Stablecoins and Trump crypto deals
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Homepage > News > Business > US market structure obstacles: Stablecoins and Trump crypto deals The White House failed in its first bid to resolve the stablecoin ‘yield v rewards’ impasse, but President Trump’s crypto profits could prove an even greater impediment to digital asset market structure progress. It’s been nearly a week since the Senate Agriculture Committee made history by advancing its digital asset market structure bill (the Digital Commodity Infrastructure Act). But there’s been no sign that the Senate Banking Committee is ready to do likewise with its market structure text (the CLARITY Act), increasing doubts that these legislative cats can be herded before senatorial focus turns to November’s midterm elections. Following last month’s last-minute cancellation of its CLARITY markup session, the Banking committee’s focus has turned to a White House-driven initiative to make housing more affordable. Banking’s formal resumption of market structure discussions is now not expected until late February or early March. There’s also the problem that Democrats and Republicans remain sharply divided on many issues in the bills, as reflected in the fact that the Ag bill advanced along purely partisan lines. A finished market structure bill will require 60 votes on the Senate floor to advance, meaning at least seven Dems will need to vote ‘aye’ along with all 53 GOP senators, making Dems’ buy-in critical. On Tuesday, The Hill quoted Brian Gardner, policy strategist for investment bankers Stifel, saying “a party-line vote is not a great sign for any bill.” And with the Congressional calendar “becoming a problem” with each passing day, Gardner doesn’t think “anybody can say that the prospects are overwhelmingly good for the bill to pass this year.” Not everyone is pessimistic. Beacon Policy Advisors analyst Chris Niebuhr agreed that “the second half of the year is basically a wash”…
Filed under: News - @ February 4, 2026 12:29 pm