Trump seeks compromise on crypto bill as White House convenes industry and banks

Amid rising political stakes in Washington, the White House is moving to revive the long-stalled crypto bill that could reshape digital asset regulation in the United States.

White House pushes for a deal on the CLARITY Act

U.S. President Donald Trump is reportedly eager to drive the stalled crypto market structure bill across the finish line, signaling a renewed focus on digital asset legislation. According to Reuters, the White House will host crypto firms and major banks on the 2nd of February to seek a legislative compromise.

The key sticking point remains stablecoin yields, which have sparked tension between traditional financial institutions and crypto companies. However, the administration now appears determined to broker an agreement that can restart momentum behind the bill and bridge those sectoral divides.

The measure, known formally as the CLARITY Act, suffered a major setback in mid-January when Coinbase withdrew its support. The exchange cited “too many issues,” including a direct ban on stablecoin rewards as well as provisions around tokenized securities, which it viewed as unworkable.

Senate Banking Committee delay and political headwinds

Coinbase’s reversal forced the Senate Banking Committee to postpone a planned vote on the draft legislation, halting progress just as negotiations had appeared to be advancing. Moreover, that delay intensified friction between banks and crypto firms, which have been openly clashing over how stablecoin yields should be regulated.

The White House itself was reportedly displeased with the breakdown in talks and privately urged Coinbase to rejoin discussions. That said, the episode highlighted the difficulty of aligning powerful incumbents and fast-growing digital asset platforms around a single regulatory framework.

At the same time, the Senate Banking group was instructed to place additional emphasis on affordable housing policy. As a result, the digital asset proposal slipped down the committee’s agenda, leaving the senate banking committee vote on hold and raising doubts about the bill’s near-term prospects.

Renewed optimism around Trump’s crypto push

Policy uncertainty has been compounded by external pressures, including a winter storm, the risk of a potential government shutdown, and the approach of the November midterm elections. However, the latest White House initiative has revived optimism that a compromise could still be reached this year.

If successful, the resulting framework could become the most consequential regulatory move for the sector since the stablecoin-focused GENIUS Act. In that context, the current stablecoin yield debate is seen as a critical test of whether lawmakers can balance innovation, investor protection, and banking sector concerns.

Industry groups emphasize that the outcome will shape how the clarity act crypto bill is perceived globally. Moreover, lobbyists argue that predictable rules could strengthen U.S. leadership in digital assets at a time when other jurisdictions are advancing their own crypto regimes.

Industry groups welcome White House outreach

Summer Mersinger, CEO of the Blockchain Association, confirmed that her umbrella group has been invited to the White House meeting. The association represents major players including Coinbase, Kraken, and Ripple, among others, giving it a central role in the talks.

“We look forward to continuing to work with policymakers across the aisle so Congress can advance lasting market structure legislation and ensure the United States remains the crypto capital of the world,” Mersinger said. Her comments underscore how industry leaders see this process as a defining moment for U.S. regulatory policy.

Similarly, Cody Carbone, CEO of The Digital Chamber, another prominent trade group, praised the administration for “pulling all sides to the negotiation table.” However, both organizations acknowledge that any final compromise will require concessions from banks and digital asset platforms alike.

Trump’s political calculus and crypto support

During his 2024 campaign trail, Trump received notable backing from crypto firms and repeatedly promised to deliver clearer rules for the industry. Moreover, his push to revive the current legislation is seen by many observers as an effort to honor those commitments while appealing to innovation-focused voters.

For that reason, the evolving negotiations have been closely watched as the definitive answer to what is the crypto bill that might emerge from Congress this cycle. The outcome could influence how capital is allocated across the sector and determine whether more companies choose to base operations in the United States.

Whatever happens in Congress, industry stakeholders are preparing for every scenario. That said, they are also increasing pressure through campaign financing, aiming to shape the broader political environment ahead of the November vote.

Fairshake’s $193 million war chest reshapes lobbying power

One of the clearest signs of rising crypto industry lobbying power is the rapid growth of Fairshake, a crypto-aligned super PAC. Crypto’s super PAC Fairshake has assembled a $193 million war chest ahead of the November midterms, a sum that positions it as a formidable player in U.S. politics.

Josh Vlasto, a spokesperson for Fairshake, said: “With the midterms approaching, we are united behind our mission with Fairshake continuing to oppose anti-crypto politicians and support pro-crypto leaders.” His remarks highlight how campaign spending is being targeted to influence specific races and policy outcomes.

Since last July, Fairshake has attracted $74 million in additional funding. This includes $25 million each from Coinbase and Ripple and $24 million from venture capital firm a16z. Moreover, analysts now rank Fairshake as the second-largest Super PAC by funding, underscoring crypto’s growing clout in U.S. lobbying and elections.

What the latest crypto bill talks mean for markets

The renewed White House engagement suggests that the current crypto bill in Congress is far from dead, even after Coinbase withdraws support and earlier delays. However, markets will be watching closely to see whether negotiators can resolve the stalemate over stablecoin rewards without alienating either banks or leading exchanges.

For investors and businesses, the prospect of a coherent legal framework remains central. A durable compromise on the crypto bill could set long-term expectations for compliance, product design, and risk management across the sector, while failure might push more innovation offshore.

In summary, Trump’s push for a legislative compromise, the White House crypto meeting with banks and industry, and Fairshake’s unprecedented funding all signal that digital asset policy will be a defining theme in U.S. politics and regulation throughout 2024 and beyond.