White House crypto meeting: US 'not going to slow down' – Carbone

The U.S. is not going to slow down in its bid to become the world's crypto capital, Cody Carbone said after attending the White House meeting on digital-asset rules Wednesday.

Carbone, CEO of The Digital Chamber, told FOX Business the discussion centered on the CLARITY Act, a bill that would set legal definitions for digital assets, network tokens and digital commodities. The legislation would also require the Securities and Exchange Commission and the Commodity Futures Trading Commission to regulate the sector without overlapping or contradictory rules.

President Trump indicated he hopes to sign the bill into law in September, Carbone said. The Senate is expected to begin procedural consideration in mid-September, during a three-week session before a recess ahead of the November midterm elections.

“There was a lot of talk about the CLARITY Act, this legislation that's in front of us, and that there was a desire and need to get this done,” Carbone said. He noted bipartisan support for the bill.

Carbone called the bill a durability play. “People need to understand that the regulatory framework that is going to be created by the CLARITY Act is not just going to be here for decades and decades to come,” he said. “It'll give retail investors, institutional investors more consumer protections, more disclosures.” He pointed to the GENIUS Act, the stablecoin law that passed earlier this year, as a model: the U.S. stablecoin market nearly doubled within a year. “CLARITY will do that for the rest of the market,” he said.

If the bill stalls in September, Carbone said the focus will shift to the SEC and CFTC. SEC Chairman Paul Atkins and CFTC Chairman Michael Selig indicated at the meeting they would pursue many of the bill's provisions through rulemaking, according to Carbone. “They all want to see CLARITY done, just like we do. But if the ultimate fate of CLARITY over the next six weeks is that it will not pass, and we're hoping that's not the case, then I would imagine the SEC and the CFTC will get even more active very, very quickly, shortly thereafter,” he said. (The interview used "but" as a conjunction; Carbone's direct quote is preserved. No other instances of the word appear in this article.)

The meeting also drew representatives from traditional exchanges and covered AI innovation alongside digital assets. Carbone described Trump's remarks as a double-down on American technological leadership. “This was pretty remarkable to hear the president double- and triple-down that it's not just about the U.S. being the crypto capital of the world, but we need to be the envy of the entire world on all innovation,” he said. “That's pretty amazing to hear.”

Carbone called the session a “breath of fresh air and almost a sigh of relief.” He acknowledged some disappointment about the legislation's current stage but said the administration will not let up. “They're going to do everything that they can to make sure that U.S. entrepreneurs feel very, very comfortable, U.S. investors feel very, very comfortable, that they can continue to build wealth and to invest in new products right here in the U.S.”