White House Convenes Clarity Act Meeting on Stablecoin Yields
On Tuesday, crypto industry representatives arrived at the White House to discuss legislation around stablecoin yields. However, banking representatives showed no sign of compromise, once again stalling progress on the Digital Asset Market Transparency Act.
Banks Hold Firm, Blocking Legislative Momentum
The debate over whether stablecoins should be allowed to generate yield continues to widen the gap between Wall Street and the crypto sector. Despite repeated calls from the White House for compromise, banks remain steadfast in opposing yield-related stablecoin operations, becoming a key roadblock.
Prominent Crypto Leaders Attend Meeting, Business Model on the Line
Among those attending the talks were executives from Coinbase, Ripple, a16z, the Digital Currency Group, and other major blockchain organizations. The future of yield-generating stablecoins, a core component of many crypto platforms, remains a top industry concern.