Trump Hosts Crucial White House Meeting to Finalize Crypto CLARITY Act
President Trump meets with industry leaders today to resolve the CLARITY Act stalemate, focusing on stablecoin interest and market manipulation.
Today, February 10, 2026, President Donald Trump is hosting a high-stakes meeting at the White House to break the legislative deadlock surrounding the Digital Asset Market Clarity Act, commonly known as the CLARITY Act. This meeting follows a series of intense negotiations between the administration, traditional banking representatives, and top cryptocurrency executives.
The primary goal of today’s summit is to finalize the Crypto Market Structure Bill by addressing the remaining friction points—specifically regarding stablecoin interest policies and the prevention of market manipulation. This legislation is seen as the final pillar in Trump’s vision to cement the United States as the "crypto capital of the world."
What is the CLARITY Act?
The CLARITY Act is a comprehensive legislative framework designed to provide a "clear legal road" for the digital asset industry. It aims to eliminate the "regulation by enforcement" era by clearly dividing jurisdiction between the SEC and the CFTC.
Key Objectives of the Bill:
- Defining Jurisdictions: Clearly separating "digital commodities" (under the CFTC) from "investment contract assets" (under the SEC).
- Curbing Manipulation: Implementing federal anti-fraud and anti-manipulation guardrails to prevent "FTX-style" collapses.
- Stablecoin Integration: Providing a federal framework for payment stablecoins to be used in the traditional banking system.
The Core Conflict: Stablecoin Interest and Bank Disputes
The main hurdle discussed in today’s White House meeting is the "interest-bearing" status of stablecoins. This has created a significant rift between two powerful lobbies:
1. The Banking Industry's Stance
Major U.S. banks argue that if stablecoins are allowed to pay interest (often marketed as "rewards"), it could lead to a massive exodus of deposits from community banks. They view this "deposit flight" as a systemic risk to the traditional lending economy.
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Crypto firms maintain that prohibiting interest payments is anti-competitive. They argue that yield is a fundamental utility of digital assets and essential for maintaining liquidity in the crypto market.
"These conversations are exactly what's needed to bridge differences and ensure Congress can deliver clear, durable rules of the road," stated the Blockchain Association following previous preliminary talks.
Stopping Market Manipulation
A significant portion of today's meeting is dedicated to the anti-manipulation provisions within the CLARITY Act. For years, the lack of a federal market structure has allowed for "wash trading" and "spoofing" in unregulated offshore exchanges.
The bill seeks to resolve this by:
- Mandating 1:1 Reserves: Ensuring all permitted stablecoins are backed by high-quality liquid assets like U.S. Treasuries.
- Dispute Resolution: Establishing a formal mechanism for resolving conflicts between banks and crypto service providers to ensure fair access to financial services.
- Enhanced Oversight: Granting the CFTC exclusive jurisdiction over spot commodity markets to police fraudulent activity directly.
Next Steps for the Bill
If the Trump administration successfully facilitates a compromise today, the bill is expected to move quickly through the Senate Banking Committee. Sources suggest the legislation could reach the President's desk for signing as early as May 2026.
