White House Hosts Crypto and Bank Policy Talks on Stablecoin Yields

TLDR

The White House held a stablecoin yield meeting with crypto and banking policy leaders, not CEOs.
Coinbase, Ripple, and Kraken joined trade groups to discuss yield rules under the Clarity Act.
Banks fear deposit loss if crypto firms offer stablecoin interest to users.
The Clarity Act passed a Senate committee by one vote, signaling tough progress ahead.

The White House held a working session on Monday with senior representatives from the cryptocurrency and banking sectors. The focus of the meeting was stablecoin yield products and their place in the pending Clarity Act. This policy gathering marked the beginning of what may become a series of discussions aimed at reaching regulatory agreement.

🚨NEW: Adding some color on Monday’s White House meeting with crypto and banks on stablecoin yield, first reported by @hannahdlang.

This is intentionally not a C-suite meeting, so Coinbase chief @brian_armstrong and major bank CEOs will not attend.

Instead, the discussion will…

— Eleanor Terrett (@EleanorTerrett) January 30, 2026

Unlike past meetings, this session was not attended by company CEOs. Instead, it featured senior policy officials from both industries. The event included representatives from Coinbase, Ripple, Kraken, and trade groups such as the Blockchain Association, the Digital Chamber, and the Crypto Council for Innovation. On the banking side, the American Bankers Association and the Independent Community Bankers of America participated.

Purpose of the Meeting and Policy Approach

The meeting was not organized as a high-profile or confrontational event. According to sources familiar with the matter, it was structured as a collaborative policy session. The goal was to allow both crypto and banking representatives to present their views and explore solutions together.

The Clarity Act is a legislative proposal that would assign clear responsibilities to federal agencies regulating digital assets. While the bill covers a broad range of crypto-related topics, the issue of whether stablecoin issuers should be allowed to offer yield products has become a key point of debate. Cody Carbone, CEO of The Digital Chamber, said that “stablecoin rewards have now taken over this entire bill.”

Concerns from the Banking Sector

Traditional banks have raised concerns over the potential loss of deposits. They argue that if stablecoin platforms offer interest-bearing products, it could cause customers to move funds out of traditional accounts. This would reduce banks’ access to low-cost capital and pose risks to the financial system.

Banking groups at the meeting, including the American Bankers Association and the ICBA, voiced these concerns. They emphasized the need for equal oversight and rules for all financial institutions. A source familiar with the discussions said that banks are worried about unregulated firms competing with regulated institutions.

Crypto Industry Seeks Clarity and Competition

Crypto firms believe that stablecoin yield offerings are essential for user adoption and industry growth. Without the ability to offer interest on digital dollar balances, they say the U.S. risks falling behind other countries that have more favorable regulatory environments. Coinbase, represented by Head of U.S. Policy Kara Calvert, pushed for rules that allow fair participation.

Representatives from Ripple, Kraken, and multiple trade groups stressed the need for regulatory clarity. They argued that stablecoins are already being used for payments and savings and should be treated under a clear framework that includes reward features

Clarity Act Faces Political Hurdles

The Clarity Act has encountered difficulties in Congress. Last week, the Senate Agriculture Committee passed a portion of the bill with a narrow 12–11 vote. Policy analysts suggest the bill needs broader bipartisan support, especially from Democratic lawmakers, to move forward.

Jaret Seiberg, an analyst with TD Cowen, wrote that without at least 10 Democratic votes, “this is not a sustainable strategy.” This has increased pressure on regulators and the administration to help guide the policy process.

The White House’s involvement could help bridge differences between the two industries. Monday’s meeting was hosted by David Sacks, known informally as the administration’s “crypto czar.” More meetings are expected in the coming weeks as stakeholders work toward a resolution.

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