White House to Meet With Crypto, Prediction Market Executives on August 19

It is worth noting that the crypto and TradFi industries have also been at loggerheads over the crypto bill, as banking groups lobby against stablecoin yields in it. Issues such as stablecoin yields and an ethics provision continue to act as obstacles to passing the crypto bill.

The White House meeting will notably take place just a day before the inaugural meeting of the CFTC’s Innovation Advisory Committee. The CFTC today released the agenda for the meeting, with the panel set to discuss potential topics related to crypto regulation.

CLARITY Act Odds Slightly Climb

Reports of the White House meeting with crypto executives have slightly boosted optimism of the CLARITY Act passing this year. Data from the top crypto prediction market platform, Polymarket, show a 21% chance that President Trump will sign the crypto bill into law this year, up from as low as 17% as of yesterday.

Rising optimism may stem from the meeting potentially addressing key issues, such as the ethics provision. The Senate is currently waiting on the bipartisan ethics package that Senators Thom Tillis and Ruben Gallego put forward.

The White House had failed to give the green light just before the Senate went on its August recess. Meanwhile, the meeting could also help put to bed concerns that stablecoin yields pose a risk to bank deposits. Addressing these issues is key to a bipartisan deal, which is necessary to invoke cloture and pass the crypto bill.