WHITE HOUSE MEETING WITH CRYPTO AND BANKS ON STABLECOIN LEGAL ISSUES
The White House is set to hold a meeting with leaders of crypto companies and traditional banks in the coming days to address issues related to the legislation structuring the digital asset market, particularly concerning the question of yields from stablecoins.
The bill has been delayed due to debates over whether to allow USD-pegged stablecoins to offer interest or rewards to users. Banks oppose this model, arguing it could lead to a withdrawal of deposits from the banking system, while the crypto industry believes that sharing yields will benefit users.
The meeting will be chaired by the White House's crypto policy council, with participation from the National Economic Council, the Department of Treasury, and relevant agencies. The goal is to gather direct opinions from market stakeholders to find solutions for the legislation.
Lobbying groups such as the Blockchain Association and the Crypto Council for Innovation have confirmed their participation, hoping to establish a clear bipartisan framework that protects consumers and promotes responsible innovation in the digital asset space.
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