The White House will launch an interactive tool to advance the Clarity Act and refute claims of stablecoin deposit outflows.

Odaily Planet Daily reports that the Trump administration is lobbying Senate Republicans to advance the Clarity Act, a bill designed to structure the crypto market. Chris Phelan, chairman of the White House Council of Economic Advisers, stated that officials will launch an interactive tool on Tuesday, allowing users to set parameters and run scenarios to verify that there is no substantial relationship between stablecoin growth and the outflow of deposits from community banks. Banking groups say the latest text amendments to the bill are still insufficient to make its stablecoin provisions acceptable. The bill requires at least 60 votes to move forward, and the Senate is scheduled to hold a procedural vote on Tuesday afternoon; several Republicans, including Texas Senator John Cornyn, have hinted at potentially voting against it, while pro-crypto Democrats have expressed dissatisfaction with the restrictions placed on President Trump in the latest text. Patrick Witt, executive director of the White House Council of Advisors on Digital Assets, stated that the bill includes measures to protect community banks.