White House crypto meeting dug into stablecoin yield debate on market structure bill

The White House meeting meant to thaw the ice on the crypto market structure bill cracked into the controversial topic of stablecoin yield, with participants saying they made progress on the negotiation as the legislation is still struggling to make headway in the U.S. Senate.

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The Monday gathering, led by President Donald Trump’s crypto czar, David Sacks, was aimed at some of the sticking points over the legislation, including whether stablecoins should be associated with yield and rewards. Policy experts from the crypto industry and Wall Street banks gathered in the White House’s Diplomatic Reception Room for more than two hours to discuss how to overhaul the stickiest provisions of the bill, according to people familiar with the talks.

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