The latest White House meeting between bankers and crypto experts showed progress on stablecoin yield issues, though no agreement was reached. This third session aimed to resolve a key impasse blocking the Digital Asset Market Clarity Act. Participants described the discussions as constructive, with more talks expected.
On Thursday, February 19, 2026, the White House hosted the third in a series of meetings between representatives from the banking industry and crypto policy experts. The focus was on resolving disagreements over stablecoin yields, a sticking point in the Digital Asset Market Clarity Act, which seeks to establish regulations for U.S. crypto markets.
The talks built on prior sessions but did not yield a compromise. Crypto insiders who attended noted that the meeting extended beyond its scheduled two hours, with White House officials encouraging participants to continue by collecting their phones. Sources familiar with the discussions indicated that White House negotiators urged bankers to accept limited stablecoin rewards that would not threaten their core deposits business. Banking representatives reportedly began working on language to support this approach, though no final draft has been circulated.
Ji Kim, CEO of the Crypto Council for Innovation and a regular participant, described the session as a "constructive meeting at the White House [that] reflects the importance of focused working engagement." He added that the conversation aimed to "establish a framework that serves American consumers while reinforcing U.S. competitiveness," with "more to come" in future discussions.
Paul Grewal, chief legal officer at Coinbase, echoed this sentiment in a post on X, stating, "The dialogue was constructive and the tone cooperative," and that the sides made "more progress."
The impasse stems from the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which permitted crypto firms to offer rewards on stablecoins. Bankers contend these rewards endanger their deposits operations and have insisted the Clarity Act ban them entirely. An earlier proposal allowed rewards only for certain activities and transactions, not static holdings, but banks rejected it.
Even if resolved, the bill faces hurdles. The Senate Banking Committee must hold a hearing, and Democratic support is needed for passage. Democrats have demanded prohibitions on senior officials holding significant crypto interests—targeting concerns about President Donald Trump—along with filling vacancies at the Commodity Futures Trading Commission and Securities and Exchange Commission, and stronger controls on illicit finance risks in decentralized finance (DeFi). Republicans and the White House have not yet met these requests.
The Clarity Act remains the crypto industry's top legislative priority, with expectations of increased activity once U.S. rules are finalized.
