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The White House will host a meeting between banks and crypto firms next week.
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Talks will focus on how stablecoin rewards should be treated under US law.
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Disagreements have stalled progress on crypto legislation in the Senate.
Stablecoin Rewards at the Center
The White House plans to host a meeting between senior banking executives and crypto industry leaders to address tensions surrounding stablecoin rewards. The discussion will be led by the White House crypto council and is aimed at resolving disagreements that have slowed progress on digital asset legislation.
The issue has become a sticking point in the Senate Banking Committee, particularly following the passage of the GENIUS Act.
Banks vs Crypto Platforms
While the GENIUS Act prohibits stablecoin issuers from paying interest directly, it allows third-party platforms to offer rewards. Banking groups argue this could draw deposits away from traditional banks, while crypto firms say the framework already reflects negotiated compromises.
Blockchain Association confirmed it will participate in the meeting, calling for clear and durable rules that balance innovation and consumer protection.
Legislative Pressure Builds
The meeting comes as Senate negotiations over a broader crypto market structure bill remain stalled. Coinbase recently withdrew support from draft legislation, citing unresolved issues around stablecoin rewards and tokenized assets.
White House officials have said passage of the bill is inevitable, but timing remains uncertain as lawmakers attempt to reconcile competing priorities between banks and crypto firms.
