NEW: White House crypto adviser @patrickjwitt calls out the banking industry for continuing to oppose the CLARITY Act, even though it already bans interest-bearing stablecoins, a provision banks had demanded.

What happened

White House crypto adviser Patrick Witt publicly criticized the banking industry for continuing to oppose the CLARITY Act, even though the bill already bans interest‑bearing stablecoins—a restriction banks themselves had asked for.

Confirmed

Global impact / market context

The adviser’s criticism highlights a clash between regulators and banks over stablecoin rules, which could slow the passage of clear crypto legislation and affect how banks handle digital‑asset services.

Analyst inference

Regulators are seeking to define stablecoin activity, while banks have pushed for limits on interest‑bearing tokens; this tension shapes the broader push for U.S. crypto policy and may influence investor confidence in digital‑asset markets.

Analyst inference

What to watch

1. Progress of the CLARITY Act in Congress, because its adoption will set the legal framework for interest‑bearing stablecoins and impact banks’ crypto offerings. Analyst inference
2. Bank lobbying efforts against the Act, as intensified opposition could delay the bill and affect the timing of regulatory certainty for the crypto sector. Analyst inference
3. Stablecoin market reaction, especially any shifts in issuance or pricing, since a ban on interest‑bearing tokens could alter demand for these assets. Analyst inference

Evidence

• x.com