Latest White House talks on stablecoin yield make 'progress' with banks, no deal yet

A recent White House meeting aimed at resolving disagreements over U.S. digital assets legislation made constructive progress, according to Coinbase Chief Legal Officer Paul Grewal, though a compromise deal remains elusive. The primary sticking point involves whether stablecoins should be allowed to offer yield, a feature banks argue threatens their core deposit business, stemming from disagreements over the previous GENIUS Act. White House officials reportedly pressured participants to stay until common ground was found. Even if the industry resolves this issue, the Digital Asset Market Clarity Act still requires Senate committee hearings and broad Democratic support, as Democrats have insisted on unrelated provisions, such as prohibiting senior officials with crypto business interests and filling key regulatory commission vacancies, which Republicans and the White House have not yet met.

(Source：CoinDesk)