In brief
- U.S. officials met Thursday with banks and crypto industry groups to discuss how stablecoin rewards could be treated under pending market-structure legislation.
- The talks focused on whether incentives can be structured without classifying stablecoin issuers as deposit-taking institutions.
- Stablecoin rewards have emerged as a central obstacle to moving forward with the CLARITY Act.
U.S. officials, banking representatives, and crypto industry groups met again at the White House on Thursday to discuss the treatment of stablecoin rewards under proposed digital-asset market-structure legislation, as negotiations continue over an issue that has become a major sticking point for advancing the bill.
The meeting brought together administration officials, lenders, and members of the Crypto Council for Innovation, which represents major digital-asset firms.
The Block and CoinDesk were first to report on the new developments.
Discussions built on earlier sessions aimed at determining whether stablecoin incentives, often referred to as rewards or yield, can be offered without triggering regulatory treatment akin to interest-bearing bank deposits.
Stablecoin rewards have emerged as one of the most contested elements of the broader market-structure debate, with banks warning that incentive-bearing tokens could blur the line between payment instruments and traditional deposits.
Crypto firms, by contrast, argue that prohibiting rewards would reduce the competitiveness and utility of dollar-pegged tokens and risk pushing innovation offshore.
In a statement following the meeting, CCI Chief Executive Ji Hun Kim said the discussions reflected “focused working engagement.” He added that further talks are expected.
“The conversation built upon previous meetings to establish a framework that serves American consumers while reinforcing U.S. competitiveness,” Kim said.
“CCI and our members remain committed to the constructive engagement necessary to advance legislation that ensures the United States leads in responsible digital asset innovation,” Kim added.
No agreement was announced following Thursday’s session, and it remains unclear whether lawmakers will be able to resolve the issue in time to move the CLARITY Act forward during the current legislative session.
The White House did not immediately return Decrypt’s request for comment.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
The first list of "Stablecoin Licenses" in Hong Kong is about to be announced! Rumors suggest they will go to HSBC, Standard Chartered, and OSL.
Hong Kong's first batch of "Stablecoin Issuer License" list will be announced next week. The three main applicants are HSBC, Standard Chartered Bank, and virtual asset platform OSL. This licensing round may favor banks due to their capital strength and regulatory advantages, while OSL possesses rich practical experience. Although rumors suggest the main list is finalized, the actual situation may still change.
区块客55m ago
SEC Commissioner: Will Carefully Study "Innovation Exemption" for Tokenized Securities, Focus on Key Issues Such as Information Disclosure
U.S. Securities and Exchange Commission Commissioner Hester M. Peirce announced the launch of an "Innovation Safe Harbor" program for tokenized securities, which will allow limited trading and experimentation within a restricted scope. The program will take a more cautious approach, explore different tokenization models, and consider investor protection mechanisms. The SEC is also evaluating related disclosure and regulatory issues.
GateNews1h ago
A South Korean CEX Will Face Sanctions Review Tomorrow, Fines Could Exceed 352 Billion Won
Gate News reports that on March 15, a certain South Korean CEX will undergo sanctions review on March 16. Since its unreported transaction volume exceeds another South Korean CEX, the market widely expects that fines against this exchange may exceed 35.2 billion Korean won, and some operational suspension periods may also be longer than 6 months.
GateNews1h ago
Uncertainty in stablecoin regulation causes traditional banks to delay infrastructure investments, while crypto companies offering 4%-5% returns may accelerate capital migration.
Unclear stablecoin regulations create operational difficulties for traditional banks, while crypto companies continue to develop in gray areas. Banks are hesitant to make large-scale investments in stablecoin infrastructure due to advice from legal counsel, resulting in limited deployment. While large-scale deposit outflows have not yet occurred, competitive pressure is increasing.
GateNews2h ago
CLARITY Act Passage Odds Drop Without April Committee Vote
Analysts warn the CLARITY Act must pass a Senate committee by April or chances of 2026 passage drop sharply.
Dispute over stablecoin rewards between banks and crypto firms remains the main legislative obstacle.
Additional debates on DeFi regulation, SEC authority, and developer
CryptoFrontNews3h ago
US Senate Bans CBDC: What Happens to Its Wholesale Version?
The US Senate’s newly passed Housing Act does not clearly distinguish between retail and wholesale versions of a CBDC.
The definition of the act, though, implies that the CBDC prohibition applies only to the retail version, which is designed to be widely available to the public.
The US Senate
Blockzeit6h ago
