White House Stablecoin Talks Yield Progress But No Final Deal
Banking groups and crypto firms extended negotiations Thursday in a third White House meeting on stablecoin yield rules, yet failed to bridge the divide blocking passage of the broader U.S. crypto market structure bill. Yield treatment remains the key sticking point.
Participants described the session as constructive despite the impasse. Crypto Council for Innovation CEO Ji Hun Kim noted discussions advanced a framework balancing consumer protection with U.S. competitiveness, while Coinbase's Paul Grewal called the dialogue cooperative. Both anticipate further meetings.
The prolonged talks reflect mounting pressure from the Biden administration to resolve the issue. Observers suggest the deadlock may delay legislative progress until after the 2024 election cycle.
