The White House is intervening to break a legislative deadlock on comprehensive cryptocurrency regulation, a process stalled by disagreements between the traditional banking sector and the crypto industry. According to three sources familiar with the matter, the White House will convene a high-level meeting on Monday, bringing together senior executives from major banks and leading cryptocurrency companies.
The meeting, hosted by the White House's crypto council, will also include executives from various trade associations representing both sectors. The primary focus of the discussions will be on a key point of contention: how pending draft legislation addresses interest and similar returns that could be offered to customers through dollar-pegged crypto assets, known as stablecoins.
This initiative is seen as a critical step to forge a compromise between the two powerful industries. The meeting is also intended to demonstrate the commitment of the Donald Trump administration to seeing this pivotal regulation through to implementation. Sources indicate the administration is keen to bring the law to the "finishing line."
