White House crypto meeting dug into stablecoin yield debate on market structure bill
A White House meeting, led by David Sacks, addressed sticking points in the Senate crypto bill, focusing on stablecoin yield.Summary
Industry insiders and Wall Street policy experts met at the White House, led by David Sacks, to negotiate impasses in the Senate's crypto market structure bill. The primary sticking point discussed was whether stablecoins should be associated with yield, a feature traditional bankers fear could catastrophically compete with their deposit business. While participants noted progress, the legislation still faces a difficult path through the Senate Banking Committee. Democrats also raised demands concerning anti-corruption provisions targeting Trump-tied crypto businesses and stricter illicit-finance protections. The meeting occurred despite a partial government shutdown, raising questions about staff capacity to finalize negotiations.
(Source：CoinDesk)