The White House plans to meet with executives from bitcoin firms and traditional banks in the coming days to discuss the stalled digital asset market structure bill, according to people familiar with the matter.
Why the bill stalled
A vote on the legislation was delayed earlier this month after it ran into resistance over proposed rules for stablecoins.
The sticking point is how the bill would treat stablecoin rewards, including interest-bearing or reward-linked features tied to dollar-pegged tokens.
Banks vs. issuers on rewards
Banks have opposed allowing stablecoin issuers or their exchange partners to offer rewards, warning it could encourage deposit flight.
Industry participants have argued that offering rewards benefits end users.
Who is convening the talks
Reuters reported the meeting was convened by the White House’s internal crypto policy council, which includes officials from the National Economic Council, the Treasury Department, and other agencies.
The goal is to gather feedback directly from market participants on how to resolve the remaining points of disagreement in the bill.
