The visit was reported hours after President Donald Trump issued a statement on Truth Social, urging banks to strike a deal with crypto companies on the Major Crypto Market Structure Act.
It was confirmed by Politico that Trump had held a closed-door meeting with Armstrong before making his public comments.
In his remarks, Trump criticized banks for standing in the way of pro-crypto laws like the GENIUS Act and the CLARITY Act, warning that delays could push innovation to countries like China and hurt American investors.
The CLARITY Act, which aims to establish a comprehensive federal framework for digital asset market structure and delineate jurisdictional boundaries between the SEC and the CFTC, is facing a major impasse in the Senate due to unresolved disputes over stablecoin yield provisions.
Banks have pushed for a ban on stablecoin proceeds in an effort to curb the flight of deposits, while crypto figures like Armstrong have argued that this push is unfairly targeted at crypto companies.
Despite attempts by government officials to mediate between banks and crypto companies, no resolution has been reached.
However, speaking at the World Liberty Forum last month, Armstrong said a breakthrough in bill talks could be near. He expressed optimism that negotiations are back on track, saying there is a “win-win-win” path forward for crypto companies, banks and consumers.
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