Trump administration moves ahead with new crypto rules, with key bill stalled in Congress

The Trump administration is aggressively pushing forward with executive actions to bolster the cryptocurrency industry as comprehensive regulatory legislation stalls in the Senate.

During a White House meeting with crypto executives on Wednesday, President Trump urged Congress to break its deadlock on the Clarity Act. The bill remains hung up over disputed ethics language designed to prevent government officials from profiting off digital assets. Trump called on industry executives to work with regulators to move the sector forward.

The meeting drew roughly two dozen attendees, including Securities and Exchange Commission Chair Paul Atkins, Commodity Futures Trading Commission Chair Mike Selig, and the chief executives of Coinbase (COIN) and Robinhood (HOOD), as well as Tyler and Cameron Winklevoss. (Disclosure: Yahoo Finance has a partnership with Coinbase.)

Simultaneously, the Office of the Comptroller of the Currency (OCC) is accelerating its regulatory timeline. Speaking at the Wyoming Blockchain Summit on Wednesday, Acting Comptroller Jonathan Gould announced plans to finalize federal rules for stablecoins by November, with the agency set to begin processing crypto license applications starting in January.