Executive Branch and Stablecoin Developments
The Office of the Comptroller of the Currency granted preliminary conditional approval to World Liberty Trust Company on Friday, clearing a significant regulatory hurdle for the Trump-linked entity. The trust company is set to take over issuance of the USD1 stablecoin from BitGo, marking a shift in control of a major stablecoin project.
President Trump is expected to attend a White House meeting with crypto industry CEOs, prediction market operators, and AI sector leaders scheduled for the following week. The gathering signals continued engagement between the Trump administration and the crypto industry at the executive level.
Congressional Legislative Outlook Dims
Galaxy Digital has lowered its assessment of the CLARITY Act's passage odds to 10%, citing unresolved policy questions around ethics requirements, stablecoin yield provisions, and developer protections. The narrow Senate legislative window upon lawmakers' return in September has compressed the timeline for advancing the bill.
