White House hosts talks on stablecoin rewards amid CLARITY stall

The summit, hosted by the White House’s crypto council, is expected to bring together executives from multiple trade groups and focus on how the bill treats yield-like incentives tied to stablecoins, the sources said. The talks are intended to help the two sides reach a compromise after months of lobbying and counter-lobbying over rules that could reshape stablecoin issuance and distribution in the United States.

The dispute centers on competition for deposits. Bank lobbyists have argued that even if stablecoin issuers are barred from paying interest directly, the draft language could still allow third parties – such as crypto exchanges or other intermediaries – to offer rewards on stablecoin balances, creating a product that resembles an interest-bearing account without being regulated like one. Crypto advocates have pushed back, arguing that reward programs are a core feature of how stablecoins are used across trading venues and payments infrastructure and should not be written out of federal rules.

The meeting underlines the administration’s push to get legislation over the finish line. Industry sources described the White House as actively trying to broker agreement between the two sectors, after President Donald Trump campaigned on promoting crypto adoption and the Senate’s work on the package has dragged on. The White House did not immediately respond to a request for comment, Reuters reported.

Crypto trade groups confirmed they plan to participate. Blockchain Association CEO Summer Mersinger said the group was “proud to participate” and said it would continue working with lawmakers on market-structure legislation, while Digital Chamber CEO Cody Carbone said the White House was “pulling all sides to the negotiating table,” according to the report.