Ripple CEO Confirms White House Meeting on Market Structure Bill
The White House convened another meeting between cryptocurrency and banking industry representatives to discuss a digital asset market structure bill under consideration in the U.S. Senate, aiming to resolve differences over stablecoin yield provisions and other issues.
In a Thursday Fox News interview, Ripple CEO Brad Garlinghouse said the company’s chief legal officer, Stuart Alderoty, attended the meeting with White House officials earlier in the day. His remarks followed unconfirmed reports that the Trump administration would hold a follow-up session after its Feb. 10 meeting on the CLARITY Act, legislation intended to establish a digital asset market structure. That earlier meeting did not result in an agreement on stablecoins.
The CLARITY Act passed the U.S. House of Representatives in July but has faced multiple delays in the Senate and its committees. These included two government shutdowns — the longest lasting 43 days in 2025 — concerns from Democratic lawmakers about conflicts of interest, and advocacy from various groups for provisions addressing decentralized finance, tokenized equities, and stablecoin yield.
The latest White House session occurred a day after policymakers, including CFTC Chair Michael Selig and two U.S. senators, joined industry representatives at President Donald Trump’s private Mar-a-Lago club for a forum hosted by World Liberty Financial, a company founded by the president’s sons and others. At the event, Ohio Senator Bernie Moreno said he expected the CLARITY Act to pass Congress and be ready for signature “by April.”
White House crypto advisers Patrick Witt and David Sacks had not publicly commented on the meeting at the time of writing.
Crypto Council for Innovation CEO Ji Hun Kim described Thursday’s discussion as constructive, saying it built on previous meetings to shape a framework that serves American consumers while reinforcing U.S. competitiveness.
Market structure bill awaits markup by Senate Banking panel
While the Senate Agriculture Committee advanced its version of a digital asset market structure bill in January, another key committee has paused action following stated opposition from Coinbase CEO Brian Armstrong.
Armstrong objected to provisions that would restrict rewards on stablecoin holdings and warned the legislation could weaken the CFTC’s role in favor of broader SEC authority.
The Senate Banking Committee was scheduled to mark up its market structure bill in January but delayed the session indefinitely after Armstrong said the exchange could not support the bill as drafted, citing concerns about tokenized equities. As of Thursday, the committee had not rescheduled the markup.
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