White House to host meeting between bank and crypto next week to discuss digital asset legislation: Reuters

The White House is planning to convene a meeting next week involving senior leaders from the banking and cryptocurrency sectors to discuss digital asset legislation, as progress stalls in the Senate. The summit, hosted by the White House's crypto council, will specifically focus on the contentious issue of stablecoin rewards, which has become a major obstacle in the Senate Banking Committee. Banking trade groups oppose aspects of the recently passed GENIUS Act, arguing that a lack of limits on third-party platforms offering rewards could siphon deposits away from community banks. Conversely, some in the crypto industry accuse banks of trying to stifle competition. This meeting comes as the broader push for crypto market structure legislation faces wobbling negotiations in the Senate, where key committees must amend and vote on bills before they can reach the full floor.

(Source：The Block)