White House to Meet Crypto Firms and Banks Over Stablecoin Yield Rules

The White House is set to convene meetings with representatives from major crypto companies and traditional banks in the coming days to address growing concerns around stablecoin yields in the proposed crypto market structure bill, according to individuals familiar with the discussions cited by CoinDesk. The move comes as lawmakers attempt to resolve disagreements that have delayed the legislation earlier this month.

At the core of the debate is how the bill would regulate stablecoin rewards, particularly interest-bearing or yield-linked features tied to dollar-pegged tokens. Traditional banks have strongly opposed allowing stablecoin issuers or crypto exchanges to offer rewards, arguing that such products could accelerate deposit flight from the banking system and undermine financial stability. By contrast, the crypto industry maintains that stablecoin yield mechanisms can provide meaningful benefits to users, including greater access to returns generated from reserve assets.

Reuters first reported that the meeting is expected to take place this week. The discussions are being organized by the White House’s internal crypto policy council, which includes senior officials from the National Economic Council, the U.S. Treasury Department, and other federal agencies. The council’s goal is to gather direct feedback from market participants to help lawmakers navigate the most contentious aspects of the bill and find a path forward.

Stablecoin rewards have become a major sticking point as Wall Street banks lobby lawmakers from both parties, warning that crypto yield products pose a direct competitive threat to traditional deposit-based institutions. Their concerns have resonated with several members of Congress, complicating efforts to advance comprehensive crypto regulation.

Industry groups, however, are eager to participate in the dialogue. Blockchain Association CEO Summer Mersinger confirmed her organization will attend the meeting and expressed appreciation to White House AI and Crypto Czar David Sacks and Patrick Witt, director of the White House crypto council. She emphasized that Congress has an opportunity to establish clear, bipartisan rules that protect consumers, support responsible innovation, and keep the United States competitive in financial technology.

The Crypto Council for Innovation also confirmed its participation, signaling broad industry engagement as policymakers work to resolve stablecoin regulation and crypto market structure issues that could shape the future of digital assets in the U.S.