- The White House hosted a meeting between crypto and bank executives to discuss the path forward for the crypto market structure legislation.
- Familiar sources said the White House has issued a February deadline to both parties to finalize agreements to fast-track a bipartisan market structure bill.
- The White House will schedule subsequent meetings to conclude talks about stablecoin yields and possibly review legislative text.
Top crypto industry representatives and Wall Street executives met on Monday at the White House to explore ways to advance the crypto market structure bill. Those present at the meeting described it as “constructive” and expect it to accelerate the legislation’s movement through Congress further.
Wall Street and Crypto Reps Dialogue on Stablecoin Yields
The two-hour meeting in Washington included representatives from Coinbase, Ripple, Kraken, Tether, and other crypto companies and associations. Similarly, the banking industry was duly represented by the American Bankers Association, Bank Policy Institute, and other Wall Street stakeholders.
According to familiar sources, the meeting involved dialogue with both sides, with no attempt to impose any requirements or expectations on each other. It will lay the groundwork for more constructive efforts on market structure.
The focus of this White House meeting was the very critical issue of yield-bearing stablecoins, which is one of the major elements inhibiting the passage of market structure. To tackle this gridlock, the White House has issued a deadline of February for both parties to reach a deal on stablecoin yields.
Without consensus on the issue of stablecoin rewards, analysts fear that the market structure may not pass in 2026. If that happens, the markets will bear the brunt of uncertain regulatory policy, and the US could lose digital asset dominance to top competitors like China and Europe.
President Trump himself is keen on signing the market structure bill and has mentioned that on several occasions, during this year’s World Economic Forum in Davos, Switzerland, and more recently in the White House during a meeting with lawmakers and digital asset advisors.
More Meetings Underway To Finalize Market Structure Talks
Banks are still reportedly adamant about preventing third-party institutions or crypto firms from offering stablecoin yields, while crypto companies still maintain their stance on offering interest on their customers’ holdings.
To ease these tensions and speed up compromise on stablecoins, the White House has hinted at subsequent meetings soon, which are expected to review legislative text alongside other agenda items.
“Over the course of the past few months, we have achieved breakthroughs on several seemingly intractable policy issues. I am confident we will be able to resolve this one, too,” said Patrick Witt, the Executive Director of the President’s Council of Advisors for Digital Assets.
Witt also commended the representatives from both industries for their “constructive, fact-based, and, most importantly, solutions-oriented” dialogue.
