According to Odaily Odaily, investment bank TD Cowen stated that while US President Trump's recent call on social media for the banking and crypto industries to reach an agreement on the CLARITY Act (Clarity for Digital Asset Markets Act) is a positive step, it is insufficient to break the current legislative deadlock.
In a report, Jaret Seiberg, Managing Director of Research at TD Cowen's Washington division, noted that while Trump frequently uses social media, individual posts have limited practical impact on policy implementation. To push forward legislation on the crypto market structure, the president needs direct involvement in negotiations between the banking and crypto industries.
Seiberg believes that expressing a stance solely through social media is unlikely to lead to a legislative breakthrough, and a real solution may require Trump to personally convene negotiations with all relevant parties. However, he also points out that given the current armed conflict between the United States and Iran, the likelihood of Trump directly intervening in negotiations in the short term is low.
Previously, Trump stated on Truth Social that the banking industry should reach a "reasonable agreement" with the crypto industry, rather than opposing terms that allow crypto platforms to offer yields on stablecoins, in order to push Congress to pass crypto market structure legislation as soon as possible. He also pointed out that the GENIUS Act, the stablecoin regulatory bill passed last year, is being "threatened and weakened" by the banking industry.
