White House to Host Crypto and Banking Executives for Talks on Stalled U.S. Crypto Bill

The White House is scheduled to host executives from the banking and cryptocurrency sectors on Monday, February 2, to negotiate a path forward for stalled U.S. crypto legislation, according to Reuters. The summit, organized by the administration’s crypto council, will focus on contentious provisions, particularly how proposed law handles interest and rewards paid on customer holdings of stablecoins.

This meeting signals the administration's desire to broker a compromise after negotiations stalled due to competing priorities and industry pushback. Previously, the House passed the CLARITY Act, intended to define regulatory authority between the SEC and CFTC, but Senate progress collapsed when the Senate Banking Committee postponed its markup after major industry voices, including Coinbase, withdrew support. Coinbase CEO Brian Armstrong accused banks of lobbying to weaken stablecoin provisions, potentially stifling yield-earning products.

The regulatory clarity remains unresolved, though the Senate Agriculture Committee is scheduled to vote on a separate crypto market structure bill soon, which may advance if controversial amendments are excluded.

(Source：Bitcoin Magazine)