Reuters: The White House convenes banks and cryptocurrency industry representatives for talks to push forward crypto legislation breakthrough

2026-01-29 01:44:29

Abstract generation in progress

Breaking News from Mars Finance: The White House will hold a cryptocurrency summit next Monday, inviting senior representatives from the banking industry and the cryptocurrency sector, in an attempt to break the deadlock over the Clarity Act. According to three industry insiders, the meeting will be hosted by the White House Cryptocurrency Committee, with the core topic focusing on whether crypto companies can offer interest and other yield returns on stablecoins held by customers. Banking industry concerns include that allowing crypto companies to pay yields could trigger deposit outflows and threaten financial stability. Standard Chartered Bank’s report estimates that by the end of 2028, stablecoins could siphon approximately $500 billion in deposits from US banks. Crypto industry advocates argue that banning yield payments would harm competitiveness and is crucial for attracting new customers.

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.