On Thursday, the White House hosted its third closed-door meeting involving crypto advocates and banking groups to discuss stablecoin regulations, aiming to resolve the contentious issue of stablecoin yield payments, which is a critical hurdle for a broader crypto market structure bill. The meeting was described as “constructive” by participants, including Ji Hun Kim from the Crypto Council for Innovation and Paul Grewal from Coinbase, despite a lack of compromise being reached. Central to the discussion is the GENIUS Act, which prohibits stablecoin issuers from paying direct interest, while leaving room for third-party platforms to offer rewards under specific conditions. As lawmakers navigate these complexities, the outcome could significantly influence the regulatory landscape for cryptocurrencies.
White House hosts third closed-door meeting on stablecoin yield
