U.S. President Donald Trump is set to host crypto executives at the White House on Wednesday for a meeting focused on regulation, according to Bitcoin Magazine. POLITICO first reported the planned gathering last week.
The meeting is expected to bring together executives from the prediction market and digital asset sectors. Reports cited by the publication said some of the names due to attend include executives from Coinbase, Payward, the parent company of Kraken, and Blockchain.com. The report said it has not been disclosed which prediction market executives will be in the room.
Regulatory agenda keeps moving while Clarity Act is delayed
The White House meeting lands at a time when digital asset policy is still moving through multiple channels in Washington. Even though the long-anticipated crypto market structure bill known as the Clarity Act has been delayed, regulators are continuing to advance separate initiatives.
On Tuesday, the U.S. Securities and Exchange Commission proposed its own framework for crypto asset offerings. Bitcoin Magazine said the agency is pressing forward even as the broader legislation remains stalled.
Lawmakers supportive of the crypto sector had hoped the Clarity Act would pass before Congress left for its August recess. That will not happen. A vote is now expected in September.
In July, lawmakers began considering a new draft of the bill, which had passed the House of Representatives last year. The text addressed ethics issues by banning government officials from promoting crypto or making money from it.
Conflict-of-interest criticism remains part of the debate
Some Democrats have criticized the president over alleged conflicts of interest, pointing to the Trump family’s earnings from crypto ventures. Trump and the White House have consistently denied wrongdoing, according to the report.
Trump’s broader crypto stance
Bitcoin Magazine said Trump campaigned on helping make the United States the crypto capital of the world and drew support from major industry players. Since taking office, he has signed a number of pro-crypto pieces of legislation.
The report also said several high-profile lawsuits against crypto companies have been dropped, while the SEC has adopted a friendlier posture toward oversight of the sector.
Trump has reported more than $1.4 billion in income from his family’s cryptocurrency ventures, according to Bitcoin Magazine.
The article first appeared in Bitcoin Magazine and was written by Mathew Di Salvo.