The White House convened a second high-level meeting on digital asset policy on Feb. 10, signaling renewed bipartisan momentum to advance long-stalled market structure legislation and resolve disputes over stablecoin oversight. The session brought together crypto executives, major banking associations, and policymakers, following an initial meeting on Feb. 2.
Participants and Agenda
The morning session included representatives from the Blockchain Association, Ripple, and other crypto firms, alongside staffers from the Senate Banking Committee and members of the White House Crypto Council. The afternoon meeting focused specifically on stablecoin yield negotiations, with participation from Goldman Sachs, JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, PNC Bank, and U.S. Bank, as well as trade groups and crypto policy leaders. According to journalist Eleanor Terrett, who cited banking and crypto sources, the banks presented written principles prohibiting stablecoin rewards, with only limited flexibility for exemptions. Crypto firms pushed for broader definitions of permissible activities, while banks favored narrower limits. The White House urged both sides to reach an agreement by March 1.
Industry Leaders Express Optimism
Blockchain Association CEO Summer Mersinger issued a statement following the meeting: “Today’s second White House meeting reflects continued, meaningful momentum toward delivering bipartisan digital asset market structure legislation, and we’re encouraged by the progress being made as stakeholders remain constructively engaged on resolving outstanding issues.” She thanked Patrick Witt of the President’s Council of Advisors for Digital Assets and the Administration for their leadership. Ripple’s Chief Legal Officer Stuart Alderoty also commented: “Productive session at the White House today – compromise is in the air. Clear, bipartisan momentum remains behind sensible crypto market structure legislation. We should move now – while the window is still open – and deliver a real win for consumers and America.” His remarks underscored industry confidence that lawmakers remain aligned on the need for statutory clarity.
The CLARITY Act and Senate Hurdles
The Digital Asset Market CLARITY Act, introduced in May 2025, aims to establish a federal regulatory framework by dividing oversight between the SEC and CFTC, with the CFTC overseeing digital commodities. The bill has stalled in the Senate. In January, Coinbase CEO Brian Armstrong withdrew support for the Senate version, calling it “materially worse than the status quo” and criticizing provisions that would restrict tokenized equities, decentralized finance, and CFTC authority. The Senate Banking Committee subsequently postponed the markup. However, House Financial Services Committee Digital Assets Subcommittee Chairman Bryan Steil tweeted on Feb. 10: “The CLARITY Act will secure U.S. leadership in digital assets. Let’s get it done.”
Implications for Investors and Markets
The convening of two White House meetings in quick succession suggests that the Biden administration is prioritizing crypto regulation. The involvement of major traditional banks—Goldman Sachs, JPMorgan, Bank of America, and others—underscores the growing intersection between digital assets and traditional finance. A clear market structure and stablecoin framework could significantly reduce regulatory risk, encourage institutional adoption, and reshape competitive dynamics between banks and crypto firms. Investors are watching closely for a breakthrough by the March 1 deadline, which could unlock a new wave of capital inflows and regulatory clarity for the U.S. crypto market.