U.S. officials met again with banks and crypto industry groups at the White House on Thursday to discuss the contentious issue of stablecoin rewards. The talks focused on whether offering incentives on dollar-pegged tokens would classify issuers as deposit-taking banks, a key obstacle for the pending CLARITY Act. No agreement was reached, leaving the path forward for the legislation uncertain.
U.S. administration officials, banking representatives, and members of the Crypto Council for Innovation convened for another round of discussions on stablecoin regulation. The meeting centered on whether stablecoin rewards could be structured without triggering banking regulations that govern interest-bearing deposits.
Stablecoin rewards have become a central sticking point in advancing the broader market-structure legislation known as the CLARITY Act. Banking interests warn that incentive-bearing tokens could blur the line with traditional bank deposits, while crypto firms argue a prohibition would reduce competitiveness.
In a statement, CCI Chief Executive Ji Hun Kim described the talks as “focused working engagement.” “The conversation built upon previous meetings to establish a framework that serves American consumers while reinforcing U.S. competitiveness,” Kim said.
He added that further discussions are expected, as reported by other news outlets which first covered the developments. The outcome remains unclear, with no resolution announced that would clear the way for the bill’s progress in the current legislative session.
