A high-stakes meeting at the White House between federal regulators, traditional banking executives, and cryptocurrency industry leaders has concluded without reaching a consensus on the regulatory framework for digital assets. The session reportedly ended in a stalemate as traditional financial institutions pushed for highly restrictive parameters on stablecoin reward programs. Banking representatives argued that without stringent limitations, interest-bearing stablecoins could undermine traditional savings accounts and pose systemic risks to the broader financial ecosystem. They called for stablecoins to be regulated with the same rigor as commercial bank deposits, including strict capital requirements. In contrast, stablecoin issuers and digital asset advocates expressed concerns that such heavy-handed restrictions would stifle innovation and prevent the growth of the decentralized finance (DeFi) sector. The lack of agreement during the session leaves the future of stablecoin legislation in a state of uncertainty, as policymakers struggle to balance consumer protection with the desire to foster technological advancement in the United States.
Source: White House session ends in impasse as banks demand restrictive parameters on stablecoin rewards
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