White House expects crypto market bill to unlock capital
White House officials predict trillions in capital inflows upon passage of a crypto market structure bill, with Trump prioritizing it per Coinbase.
The CLARITY Act seeks to establish a clear regulatory framework for crypto markets by dividing crypto assets into three categories: digital commodities, investment contract assets, and permitted payment stablecoins. It clarifies the regulatory obligations of the SEC and CFTC based on these categories. The Act would grant the CFTC exclusive jurisdiction over anti-fraud or anti-manipulation enforcement in digital commodities, including in cash or spot transactions. However, the long-anticipated crypto market structure legislation, known as the CLARITY Act, may be at risk of not being signed into law in 2026. Uncertainty has risen as opposition from the banking sector intensifies, particularly over key provisions tied to stablecoin regulation. Banks have objected to provisions that would permit stablecoin issuers and other crypto firms to offer yield-bearing products and customer rewards. President Trump has urged Congress to pass the CLARITY Act, criticizing banks for trying to hold the bill "hostage". Trump's comments followed a private White House meeting with Coinbase CEO Brian Armstrong. Trump stated that Americans should earn more money on their money and that banks should not hold the CLARITY Act hostage. Trump said he may not sign other legislation until the SAVE America Act is handled, introducing uncertainty for the CLARITY Act as well. The SAVE America Act is an election-related bill that includes stricter voter ID requirements, demands for proof of citizenship, and limits on mail-in voting.
