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🏦 Trump Urges Banks to Support the CLARITY Act
Donald Trump held a closed-door meeting with Coinbase CEO Brian Armstrong at the White House, after which he called on banks to support a key piece of legislation regulating the crypto market.
🪙 The president criticized banks for resisting crypto initiatives and warned that delaying reforms could lead to the leakage of innovation to other countries, including China.
The CLARITY Act, which aims to define regulations for digital assets and delineate the powers of the SEC and CFTC, is currently blocked in the Senate due to disputes over the profitability of stablecoins.
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