White House crypto meeting dug into stablecoin yield debate on market structure bill
CoinDesk • • business
Key Points:
- A White House meeting aimed at bridging differences between crypto firms and Wall Street bankers highlighted ongoing disagreements, particularly over stablecoin yield regulations, with crypto insiders feeling banks are slow to reach a compromise.
- The White House has instructed all parties to finalize new legislative language on stablecoin yields by the end of the month to advance crypto market structure legislation, which is currently stalled in the U.S. Senate.
- Banking groups emphasized the need for legislation that protects traditional banking functions like local lending and financial system stability, while crypto advocates stressed the importance of not stifling innovation or consumer access to digital assets.
- The legislative process remains complex, with disagreements not only between crypto and banking sectors but also within political lines, including concerns over ethics provisions
