The White House Is in Talks with Cryptocurrency Firms and Banks on Stablecoin Rewards Issue

**February 3 – A cryptocurrency advocacy group described Monday’s White House meeting on “Defining Stablecoin Yield” as a “critical step” and necessary development for advancing crypto legislation amid ongoing legislative efforts. Compromise solutions on the issue, however, may not come easily.** **Representatives from Coinbase, major crypto industry associations, and banking organizations gathered in Washington, D.C., to discuss regulatory approaches to stablecoin yields and whether third parties (including Coinbase) should be permitted to offer such yields. The meeting was chaired by Patrick Witt, a member of the President’s Digital Asset Advisory Committee.** **Blockchain Association CEO Summer Mersinger stated: “Today’s White House meeting marks a significant step forward in pursuing a bipartisan legislative solution for digital asset market structure. We appreciate Patrick Witt and the administration’s leadership in convening stakeholders to address one of the remaining critical issues: stablecoin yield.”**