White House Crypto–Bank Talks Advance as Stablecoin Yield Debate Stalls Market Structure Bill

A White House-hosted meeting between leading crypto executives and banking representatives has been described as “productive,” but key disagreements over stablecoin yield provisions remain unresolved.

Ripple’s chief legal officer, Stuart Alderoty, who attended the session, said there was clear bipartisan energy behind advancing legislation to reform the crypto market structure.

Productive session at the White House today – compromise is in the air. Clear, bipartisan momentum remains behind sensible crypto market structure legislation. We should move now – while the window is still open – and deliver a real win for consumers and America.
— Stuart Alderoty (@s_alderoty) February 10, 2026

Congress is attempting to pass legislation that would clarify how U.S. regulators oversee digital assets. While the House approved the CLARITY Act in July, the Senate Banking Committee has yet to gather enough bipartisan backing to move the bill forward.

Efforts to build consensus stalled after Coinbase withdrew support last month, citing language that would ban all yield payments linked to stablecoins.

Stablecoin yield becomes a central sticking point

Banking lobby groups argue that allowing yield payments to stablecoin holders, particularly through third-party platforms such as exchanges, could threaten traditional bank deposits and weaken the broader banking system.

Dan Spuller, head of industry affairs at the Blockchain Association, said Tuesday’s meeting was more focused than prior discussions and centred heavily on the issue of stablecoin rewards.

According to Spuller, banking representatives did not negotiate from the existing bill text but instead presented broader principles calling for strict prohibitions on yield payments. Reports indicate that banking groups distributed materials outlining “yield and interest prohibition principles” that they believe should be embedded in Senate legislation.

The American Bankers Association, the Bank Policy Institute, and the Independent Community Bankers of America released a joint statement afterwards, saying more dialogue is necessary.

Calls to separate the yield fight from the market structure bill

Some industry leaders argue the yield debate should not delay broader regulatory clarity. BitGo CEO Mike Belshe said lawmakers and stakeholders should avoid reopening debates around the GENIUS Act, which already prevents stablecoin issuers from directly paying yield.

“That battle was fought,” Belshe said, suggesting that those who oppose the GENIUS framework should pursue amendments separately. He maintained that the market structure bill should move forward independently of the stablecoin yield issue.

The latest White House session follows an earlier February 2 meeting, which White House crypto adviser Patrick Witt described as “constructive” and grounded in factual discussions.

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