According to CoinMeta, the White House accuses large banks of obstructing the passage of the Clearing House Act due to concerns that stablecoins could draw away deposits. Patrick Whitte, the White House's crypto advisor, stated that the opposition to the act is "a wildfire sparked by large banks that has eventually spread to community banks." He mentioned that Trump is willing to sell his crypto assets or place them in blind trusts, calling this "the strictest ethical provision agreed upon by any president." Whitte also said that the attacks on Trump are "somewhat ironic," as "many senators on banking committees" are actively trading stocks of the financial companies they regulate.