BroadChain learned that on April 26 at 08:46, US President Donald Trump, in a non-public event at Mar-a-Lago in Florida, explicitly stated to holders of the Trump Meme token that the White House will not allow banking lobbying groups to undermine the legislative process of a core crypto bill. The bill is the "Digital Asset Market Clarity Act" (CLARITY Act).
Trump emphasized that the crypto industry has become mainstream and the US is leading in this field, and traditional banks should not hinder the implementation of stablecoin and crypto regulatory frameworks. The event, dubbed the "most exclusive conference in the world," attracted hundreds of heavyweight participants, including Tether CEO Paolo Ardoino, Ark Invest founder Cathie Wood, Anchorage Digital CEO Nathan McCauley, and boxing legend Mike Tyson.
Previously, the US banking industry had strongly lobbied against stablecoins, arguing that their reward mechanisms could impact traditional deposit businesses, slowing down the review of the CLARITY Act. Industry estimates suggest that 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 provides key momentum for the bill to overcome industry resistance and accelerate its passage.