The White House convened executives from cryptocurrency firms and traditional banks on February 2, 2026, to break an impasse on major digital asset legislation.
The closed-door session sought to advance the crypto market structure bill, formally called the CLARITY Act. The legislation has stalled in Congress over industry disputes.
The talks highlight the Trump administration’s effort to deliver regulatory clarity for digital assets. Clear rules could boost innovation, protect consumers, and keep the United States competitive in blockchain technology. The bill also aims to prevent market manipulation through better oversight.
Stablecoin Rewards Emerge as Central Dispute
Participants included representatives from Coinbase, the Blockchain Association, the Crypto Council for Innovation, and banking trade groups.
The main issue centered on stablecoin provisions. Banks oppose allowing crypto platforms to offer yield or rewards on dollar-pegged stablecoins. They argue this could pull deposits away from traditional institutions.
Cryptocurrency leaders counter that such features benefit users and drive adoption. They accuse banks of trying to limit competition.
The White House crypto policy council organized the meeting. Officials from the National Economic Council and Treasury took part. The goal was to find compromise language for the bill.
Bill Seeks Clear Regulatory Framework
The CLARITY Act would divide oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission. It would create rules for digital asset trading and custody.
Supporters say the framework would reduce uncertainty that has driven some firms overseas. It would also strengthen protections against fraud and abusive practices, including market manipulation.
The legislation advanced in committee last year but hit roadblocks over stablecoin details. Recent Senate panels delayed votes amid the disagreements.
Kristin Smith, CEO of the Blockchain Association, welcomed the talks. “Congress has a real opportunity to deliver bipartisan rules that protect consumers while fostering responsible innovation,” she said in a statement.
Banking groups have not issued public comments on the session.
Outlook for Legislative Progress
The White House hopes the discussions lead to swift agreement. Further meetings could follow if needed.
Lawmakers plan to revisit the bill in coming weeks. Passage would mark a milestone for the U.S. crypto sector, which has grown rapidly despite regulatory gaps.
Business readers watch the outcome closely. Clear rules could unlock institutional investment and new products. Continued delays risk losing ground to other countries with more defined frameworks.
The administration has made digital assets a priority since taking office. President Trump pledged to make the United States the global leader in cryptocurrency.
Monday’s session shows direct engagement to turn that pledge into law.
