Trump: Crypto has become mainstream, and the White House will not allow banks to disrupt crypto market-structure legislation

On April 26, around hundreds of Meme coin TRUMP holders attended a private event at Trump’s Mar-a-Lago estate in Palm Beach, Florida, on Saturday, spending time with Trump and several heavyweight guests. At the event, Trump warned the banking industry not to obstruct crypto legislation. At this private gathering, dubbed “the world’s most exclusive meeting,” which focused on finance, Trump echoed his White House crypto adviser’s position on the Digital Asset Market Clarity Act (Clarity Act), pushing back against bank lobbyists who had stalled the bill. The bill is the crypto industry’s top policy goal. Trump said, “The White House will not let banks destroy crypto market-structure legislation.”

In negotiations over the past few months, banking industry groups have persuaded some senators on the question of how U.S. regulation could pave the way for a stablecoin incentive program, with industry participants arguing that such a plan could threaten their traditional deposit accounts. This opposition derailed progress in the Senate’s efforts to secure a new regulatory framework for crypto, but recent discussions show the bill may still get back on track and could be carried forward in this year’s tightening legislative schedule. Trump has made clear that this is one of his priorities.

The event’s guest lineup included Tether CEO Paolo Ardoino, Ark Invest’s Cathie Wood, Anchorage Digital CEO Nathan McCauley, and boxer Mike Tyson was also in attendance. As for the digital asset industry, Trump used his usual line: “We are leaders in the crypto space, and it has become mainstream.” As the meeting took place, Trump continued to back a crypto project named after him, while also prompting industry support and political scrutiny. His close personal ties with digital-asset companies were also one of the controversies during the passage process of the Clarity Act, as Democratic negotiators insisted that senior government officials, including the president, be prohibited from profiting from the industry.