During a two-hour meeting held at the White House this Monday, representatives from the crypto sector and traditional banks discussed the future of digital asset regulation in the United States.
Defined as a technical working session, the meeting was primarily aimed at unblocking debate on the proposed CLARITY Act on stablecoins, which is currently being debated in Congress and is a major blockage.
According to people close to the process, President Donald Trump’s administration would have issued the following ultimatum: An agreement on the return (interest payments) on these assets must be reached by the end of February.
The government is urgently working on legislation that would establish the structure of the market and define the powers between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Unless conflicts over interest payments and fees related to dollar-pegged digital currencies are resolved, the bill is unlikely to pass this year.
Technical debate between two opposing industries
Unlike other high-profile conferences, there were no managing directors or CEOs present at this summit. However, you need policy and compliance experts.
Attendees included representatives from companies such as Coinbase, Kraken, Ripple, Circle, and Fidelity, who faced representatives from major banking associations. Also included were the American Bankers Association (ABA) and the Bank Policy Institute.
Patrick Witt, executive director of the Crypto Council and leader of the conference, called the conference “constructive, fact-based, and solutions-focused.” After months of work, Witt said: Progress has been made in areas previously thought to be difficult to solve.He expressed confidence that the current conflict could be resolved.
However, reports from those in attendance suggest that the original position was markedly different. While industry representatives for Bitcoin and other digital assets sought to suggest specific technical solutions that would enable the returns, a spokesperson for the bank declined to go into operational details. It focuses on the need to “close legal loopholes”.
Stablecoin yield dispute
At the heart of the friction is whether stablecoins can legitimately provide rewards and interest to users through companies in the crypto space. Regarding these, This feature is key to driving mass adoption of digital assets and to compete with the traditional financial system.
On the contrary, traditional banks argue that they will maintain reservations and allow non-bank entities to offer benefits similar to savings accounts. It can destabilize the financial system and cause unfair competition.
Agencies such as the ABA argue that allowing crypto companies to offer incentives for holding digital assets is a “loophole” that must be closed. As reported by CriptoNoticias, the group recently stated that stablecoins need to be prevented from “destroying deposits.”
Meanwhile, the digital asset industry claims that these rewards are: These are the cornerstones of efficiency in the new digital economy.
Geopolitical background and government position
The pressure to regulate digital currencies responds not only to internal dynamics but also to global competitive strategies.
President Donald Trump said this Monday, hours after a meeting between bankers and crypto entrepreneurs. The United States needs to lead in this area. This is to prevent countries like China from taking the lead.
“I’m a big fan of cryptocurrencies. I’m probably the person who has supported cryptocurrencies more than anyone else because I believe in them (…) If we don’t embrace digital assets, China will,” the president said, drawing parallels with developments in artificial intelligence (AI).
The country’s Treasury Secretary, Scott Bessent, emphasized that the administration’s intention is to strengthen the United States as the “digital asset capital of the world.”
In his opinion, the introduction of regulations such as the GENIUS Act and the CLARITY Act; These are part of our efforts to provide legal security to the market.
The results of the next meeting are expected to be smaller in scope and more technically in-depth. It will determine the direction of the U.S. industry.
The resolution of this dispute will not only have implications for stablecoin issuers, but will also set a precedent for the integration of Bitcoin technology into the regulated financial system.
Now, if the parties fail to reach an agreement by the deadline imposed at the end of February, the digital asset legislative landscape in 2026 could face a prolonged period of uncertainty. It affects innovation and a country’s competitiveness in the international arena.
(Translate tag) Bitcoin (BTC)
