The White House intensified efforts to break the U.S. crypto regulatory stalemate by convening two high-level meetings on February 2 and February 10, 2026, bringing together industry leaders, banking associations, and lawmakers to negotiate market structure rules and stablecoin oversight. The sessions, led by Patrick Witt of the President’s Council of Advisors for Digital Assets, focused on resolving disagreements around the Digital Asset Market CLARITY Act, which has stalled in the Senate.
Industry Leaders Express Optimism
Blockchain Association CEO Summer Mersinger issued a statement after the February 10 meeting, calling it a reflection of “continued, meaningful momentum toward delivering bipartisan digital asset market structure legislation.” She thanked the administration for its leadership and reaffirmed the association’s commitment to working across the aisle to turn progress into law. Ripple’s chief legal officer, Stuart Alderoty, described the session as “productive” and noted that “compromise is in the air,” urging swift action to deliver a win for consumers and America.
Banks and Crypto Firms Clash Over Stablecoin Rules
Journalist Eleanor Terrett reported details from the meetings, citing banking and crypto sources. The morning session included crypto representatives, Senate Banking Committee staffers, and members of the White House Crypto Council. A smaller afternoon meeting focused on stablecoin yield negotiations, attended by major banks including Goldman Sachs, JPMorgan, Bank of America, Wells Fargo, Citi, PNC Bank, and U.S. Bank, alongside trade groups and crypto policy leaders. Banks reportedly presented written principles prohibiting stablecoin rewards, with limited flexibility for exemptions. Discussions centered on defining permissible activities, with crypto firms seeking broader definitions and banks favoring narrower limits. The White House urged both sides to reach an agreement by March 1.
CLARITY Act Remains Stalled
The Digital Asset Market CLARITY Act, introduced in May 2025, aims to establish a federal regulatory framework dividing oversight between the SEC and CFTC, with the latter handling digital commodities. However, the Senate version has encountered roadblocks. In January, Coinbase CEO Brian Armstrong withdrew support, calling the Senate bill “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 its markup. House Digital Assets Subcommittee Chairman Bryan Steil reiterated support on X: “The CLARITY Act will secure U.S. leadership in digital assets. Let’s get it done.”
Market Implications and Outlook
The White House’s intensified engagement signals a shift toward clearer crypto regulation, which could reduce policy uncertainty, boost institutional adoption, and reshape competition between banks and crypto firms. While significant differences remain, the March 1 deadline and growing bipartisan alignment offer hope for a compromise that could finally provide the legal clarity the industry has long sought.