Stablecoin discussion is poised to challenge legislative progress amid the looming midterms.
The White House is weighing another meeting with crypto and banking leaders to address stablecoin yield regulations, potentially as soon as Thursday, according to Crypto in America’s Eleanor Terrett.
No final decision has been made on the gathering, which would continue negotiations aimed at resolving a standoff that has stalled the key crypto market structure bill CLARITY Act in Congress.
The core of the debate is whether crypto platforms should be allowed to offer interest on stablecoin holdings, which banks say could pull deposits away and tilt competition.
To address this issue, the White House hosted two meetings between banks and crypto firms earlier this month, but the two parties failed to reach common ground.
The administration set a late-February deadline to broker a compromise before midterm considerations complicate the legislative calendar.
