Stablecoin Yield ‘Effectively Off The Table’: White House Narrows Rewards Deb...
The White House reportedly took the lead during the latest Crypto Council meeting, narrowing the stablecoin rewards dispute that has delayed progress in the long-awaited crypto market structure bill. Related Reading: Change Of Heart? Hacker Returns $21M Stolen Bitcoin To South Korean Prosecutors White House Steps In On CLARITY Act Dispute On Thursday, the White […]
Related News
Stablecoin operator Tether has announced its decision to discontinue support for its offshore Chinese Yuan token CNH₮. The USDT operator has attributed this development to a lack of market demand, among other points. Related Reading: Stablecoin Yield ‘Effectively Off The Table’: White House Narrows Rewards Debate In Latest Meeting Tether To Terminate CNH₮ Redemption In […]
A White House meeting aimed at breaking the logjam over stablecoin rewards under pending crypto market structure legislation aka Clarity Act ended without a compromise, even as both banking and crypto participants described the session as “productive,” according to details shared by Crypto In America reporter Eleanor Terrett citing sources in the room. The follow-up […]
In a report published Thursday, Reuters said the long-anticipated crypto market structure legislation, known as the CLARITY Act, may be at risk of not being signed into law in 2026. The uncertainty comes as opposition from the banking sector intensifies, particularly over key provisions tied to stablecoin regulation. Deadlock In Crypto Legislation Per the report, the legislation has run into a fresh stalemate after banks declined to support a compromise proposal advanced by the White House. That breakdown in negotiations has cast serious doubt on whether Congress can move the bill forward....
A second White House meeting between major U.S. banks and leading crypto firms ended without a deal on stablecoin yield, leaving one of the most contentious issues in U.S. digital asset regulation unresolved. Related Reading: Solana Gets A Big Infra Signal As Alibaba Demos High-Performance RPCs The February 10 session, led by Patrick Witt, Executive […]
No progress has been made recently on the delayed CLARITY Act, the crypto market structure bill, primarily due to opposition from the banking sector over stablecoin rewards. Despite this stalemate, White House Crypto Advisor Patrick Witt has been vocal in advocating for the bill’s passage. Witt Calls Out Banks For Undermining Crypto Progress In a social media post on Tuesday, Witt emphasized the importance of keeping the CLARITY Act a pro-innovation piece of legislation. He criticized efforts to co-opt the legislative process into an anti-competition framework, labeling such actions....