White House Holds Third Round of Stablecoin Closed-Door Meeting, Crypto Executives Say "There Are Still Follow-up Developments"

Odaily News The White House convened a third round of closed-door meetings on Thursday, inviting representatives from the cryptocurrency industry and banking groups to discuss stablecoin reward mechanisms. The meeting lasted several hours and was described by participants as a "constructive dialogue," but no final compromise has been reached yet.

Ji Hun Kim, CEO of the Crypto Council for Innovation, stated that the meeting further advanced the framework building on previous discussions, with the goal of enhancing U.S. competitiveness while protecting consumers. Paul Grewal, Chief Legal Officer of Coinbase, also described the discussions as "cooperative in tone and constructive," hinting that further negotiations will continue.

The stablecoin holding reward mechanism is a key point of contention in the current crypto market structure bill. Insiders revealed that the White House proposed some principled solutions, allowing companies to provide rewards based on specific activities or account balances, but the banking side remains cautious. Whether a next round of meetings will be held has not yet been determined.

Participating institutions included Ripple, the Blockchain Association, the Crypto Council for Innovation, and several major banking associations.