The White House to Convene High-Level Talks Between Banking and Crypto Industry Leaders Next Week to Discuss Digital Asset Legislation

Odaily News According to Reuters, the White House plans to host a closed-door meeting next week with senior executives from the banking and cryptocurrency industries to discuss the currently stalled digital asset legislation in the Senate. Sources familiar with the matter said the meeting will be led by the White House's crypto affairs committee.

The report indicates that the core agenda of the meeting will focus on the regulatory approach to stablecoin rewards, which has become a major point of contention in the legislative process of the Senate Banking Committee. Tensions between the banking industry and crypto companies over this issue have been escalating in recent months.

The previously passed GENIUS stablecoin framework bill prohibits stablecoin issuers from paying interest directly to holders but still leaves room for reward mechanisms provided by third-party platforms, including Coinbase, sparking opposition from banking lobbying groups.

The Blockchain Association has confirmed its participation in the meeting. Its CEO, Summer Mersinger, stated that Congress has an opportunity at this juncture to advance the formation of a stable, bipartisan regulatory framework that protects consumers while promoting responsible innovation, ensuring the United States maintains a global leadership position in the next generation of financial and internet technologies.