The White House is set to hold a second meeting in Washington on Tuesday afternoon to address rules for stablecoin yield payments. According to three sources cited by Crypto In America, the session will bring together crypto industry representatives, banks, and policy staff. The question of whether crypto firms should be allowed to pay interest on stablecoins has moved to the center of pending crypto market structure legislation.
Second session follows last week’s initial talks
Like the first meeting held last week, the upcoming round will not include company CEOs. Senior policy staff from banks and industry groups are expected instead. Sources said invitations have already been sent to Bank of America, JPMorgan, and Wells Fargo, while PNC, Citi, and U.S. Bank may also take part. Press representatives for several firms declined to comment, others did not respond, and a White House spokesperson also declined comment.
Crypto trade representatives are expected to return as well. Banking-side participants will likely include the Bank Policy Institute, the American Bankers Association, and the Independent Community Bankers of America. Each side, according to the sources, is expected to send fewer attendees than it did last week.
Yield payments remain the core point of conflict
The main issue is whether crypto companies should offer yield on stablecoins. Banks argue that higher-yield crypto accounts could pull deposits away from the banking system, reduce lending capacity, and add financial stress. Crypto firms argue the opposite from their perspective: limits on stablecoin yield would shield banks from competition while slowing product development in the crypto sector.
Treasury Secretary Scott Bessent acknowledged those concerns during Senate Banking Committee testimony last Thursday. He said deposit volatility remains undesirable and added that officials would work to prevent instability tied to stablecoin yield.
The dispute is now affecting the Clarity Act
The disagreement now has direct consequences for the Clarity Act, a crypto market structure bill still awaiting action in the Senate Banking Committee. Last month, Chairman Tim Scott canceled a planned vote after Coinbase CEO Brian Armstrong publicly criticized provisions he said favored banks.
Crypto In America reported that the White House is now treating the yield question as a higher priority than other regulatory disputes. Blockchain Association CEO Summer Mersinger said the crypto industry is meeting almost daily to align around compromise proposals. A banking industry representative said banks are also coordinating internally while keeping the process productive. White House Crypto Council Executive Director Patrick Witt has pressed both sides to reach an agreement by the end of the month.