The White House is planning talks with banking and crypto executives to break a dispute over stablecoin rules that has stalled progress on a major US Senate crypto bill.
According to a report by Reuters, the administration will convene industry leaders to address unresolved elements of the Senate’s Clarity Act after a key debate was postponed.
“We look forward to continuing to work with policymakers across the aisle so Congress can advance lasting market structure legislation and ensure the United States remains the crypto capital of the world,”
Said Blockchain Association chief executive, Summer Mersinger.
The talks are expected to focus on whether crypto platforms should be allowed to pay interest or rewards on dollar-pegged stablecoins, a point of contention between banks and digital asset firms.
Crypto companies argue that rewards are critical for competition and user growth, while banks warn such incentives could accelerate deposit outflows from insured lenders.
A recent analysis by Standard Chartered estimated stablecoins could pull about $500 billion in US bank deposits by the end of 2028, intensifying financial sector concerns.