Listen everyone,
The critical crypto meeting at the White House didn’t end the way Trump’s team likely wanted.
According to a report from Bitcoinsistemi, the stablecoin-focused meeting held late yesterday ended without a clear conclusion, after talks stalled over one major issue: stablecoin yield.
Representatives from major U.S. banks met with crypto industry figures to try to find common ground around the Senate’s market structure bill. But negotiations reportedly hit a wall when the banking sector refused to compromise on stablecoin interest payments and pushed for a complete ban on stablecoin yields.
A White House document reportedly suggests any exceptions should be “extremely limited” so the ban principle isn’t weakened. That stance is described as even stricter than the recent market structure bill language, which allowed yield in certain stablecoin activities.
This deadlock is now putting short-term momentum at risk for the Clarity Act, one of the biggest U.S. crypto reform efforts, and the market reacted fast. Bitcoin reportedly slipped to around $67,000 during morning hours.
Ripple’s CLO says talks were “productive”
Ripple’s Chief Legal Officer Stuart Alderoty, who attended the meeting, described the discussions as productive and said a consensus is forming, with bipartisan support for the broader market structure still intact. He also stressed the need to act while there’s an opportunity to deliver results for U.S. consumers.
Bottom line: the policy fight over stablecoin yields is turning into a real market catalyst. If lawmakers can’t agree, volatility stays high.
Not financial advice.
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