Catenaa, Monday, February 23, 2026- The White House convened a third closed-door meeting Thursday with crypto industry leaders and major banking groups as negotiations over stablecoin yield rules continue to shape a broader US crypto market structure bill.
The hours-long session began at 9 a.m. ET and focused on whether platforms can offer rewards tied to stablecoin balances.
Participants described the discussion as constructive, though no agreement was reached, according to people familiar with the talks.
Attendees included representatives from Ripple, the Blockchain Association, the Crypto Council for Innovation and major bank trade groups, along with executives from Coinbase.
Discussions centered on how rewards or yield mechanisms should be treated under federal law.
Banks have argued that allowing yields on stablecoins could pull deposits from traditional institutions, particularly community banks.
Crypto firms counter that limiting rewards would curb innovation and weaken US competitiveness in digital finance.
The debate follows passage of the GENIUS law, which bars stablecoin issuers from paying direct interest to holders but does not explicitly prohibit third-party platforms from offering rewards.
A Senate Banking Committee draft would allow exchanges to offer yield under certain conditions, such as when customers actively use or sell their holdings, but not for idle balances.
Lawmakers are weighing jurisdictional divisions between the Securities and Exchange Commission and the Commodity Futures Trading Commission as part of the broader bill. Market observers say stablecoin yield remains one of the final sticking points.
