‘More to come,’ crypto leaders say after third White House stablecoin meeting
Crypto leaders deemed the third White House stablecoin meeting constructive, signaling progress on a broader crypto market structure bill.Summary
The White House hosted its third closed-door meeting involving crypto advocates and banking groups to negotiate the structure of stablecoin regulation, particularly concerning yields on stablecoin holdings, which remains a key sticking point in broader crypto legislation.
Participants, including representatives from the Crypto Council for Innovation and Coinbase, described the dialogue as "constructive" and indicated "More to come" on building upon the progress made. However, one source familiar with the talks noted that no compromise was reached during the session.
The core dispute centers on whether stablecoin issuers should be allowed to pay yields. Banks argue that allowing yields would drain deposits from traditional institutions, while crypto firms contend that restrictions stifle innovation. Lawmakers are attempting to pass comprehensive legislation dividing regulatory jurisdiction between the CFTC and SEC, with the stablecoin yield issue being central to the ongoing impasse.
(Source：The Block)