White House, Banks, Crypto Groups Resume Stablecoin Rewards Talks
White House officials met with banks and crypto groups Thursday to discuss whether stablecoin issuers can offer rewards without being classified as deposit-taking institutions. The talks focused on how stablecoin rewards should be treated under the pending CLARITY Act.
White House officials met with banks and crypto groups Thursday to discuss whether stablecoin issuers can offer rewards without being classified as deposit-taking institutions.
The Block and CoinDesk first reported the meeting, which brought together unnamed administration officials, banking representatives, and members of the Crypto Council for Innovation. Crypto Council for Innovation Chief Executive Officer Ji Hun Kim described it as a focused working engagement that built upon previous meetings to establish a framework that serves American consumers while reinforcing U.S. competitiveness.
Banks argued that stablecoin rewards blur the line between payment instruments and traditional deposits and represent a competitive threat to their business model. The crypto industry countered that prohibiting rewards would reduce the competitiveness and utility of dollar-pegged tokens, risking that innovation moves offshore.
The meeting centered on how stablecoin rewards should be treated under the CLARITY Act, which passed the House in July 2025 with strong bipartisan support. The bill moved to the Senate Committee on Banking, Housing, and Urban Affairs in mid-September 2025, with its first markup session held January 15, 2026. No agreement was announced after Thursday's session.
The GENIUS Act signed into law in July 2025 banned interest on stablecoins but stayed silent on rewards-based compensation, creating the debate now linked to the CLARITY Act. Under the CLARITY Act, permitted payment stablecoin issuers would fall under banking regulators' supervisory authority, while the CFTC and SEC retain anti-fraud and anti-manipulation jurisdiction over transactions on their respective registered platforms.
Crypto Council for Innovation Chief Executive Officer Ji Hun Kim said the organization and its members remain committed to constructive engagement to advance legislation that ensures the United States leads in responsible digital asset innovation, with further talks expected but no specific date announced.
Ang artikulong ito ay isinulat batay sa ulat mula sa Decrypt.
