PANews reported on April 26th, citing CoinDesk, that US President Trump stated clearly at a private event for Trump Meme holders at Mar-a-Lago in Florida that the White House will not allow banking lobbying groups to undermine the legislative process of the core crypto law, the Digital Asset Market Clarity Act (CLARITY Act). He emphasized that the crypto industry has become mainstream, stating that "the United States is a leader in the crypto space," and that traditional banks should not hinder the implementation of stablecoins and the crypto regulatory framework.
This event, dubbed the "world's most exclusive conference," brought together hundreds of major Trump holders, along with prominent figures such as Tether CEO Paolo Ardoino, Ark Invest founder Cathie Wood, Anchorage Digital CEO Nathan McCauley, and boxing champion Mike Tyson. Previously, the US banking industry had strongly lobbied against stablecoins, arguing that their reward mechanisms could impact traditional deposit businesses, thus slowing down the review of the Clarity Act. Industry estimates suggested that the widespread adoption of stablecoins could lead to a loss of up to $6.6 trillion in deposits from the banking system. Trump's public endorsement provided crucial momentum for the bill to overcome industry resistance and accelerate its passage.
