The White House is set to host a third high-level meeting on stablecoin yields on February 20, 2026, at 9:00 AM ET, signaling continued engagement from U.S. policymakers on this contentious issue. The gathering is expected to include a small delegation representing both the cryptocurrency industry and the traditional banking sector.
The core dispute centers on whether platforms should be allowed to offer yield or rewards on stablecoins. Banks argue that allowing yield on stablecoins turns them into direct competitors to savings accounts, potentially blurring the line between traditional deposits and digital dollars. They have raised strong economic concerns, warning that if stablecoins offer competitive yields, consumers may move funds out of bank accounts. Some estimates presented in earlier meetings suggest up to $500 billion in deposits could shift over the next few years, with regional banks likely feeling the most pressure.
Financial institutions are pushing for strict limits or even a broad ban on yield features, especially for platforms that don't issue the stablecoins themselves. They argue this creates an uneven playing field, as banks face strict capital rules while crypto platforms operate under different standards.
In contrast, crypto firms argue that rewards and on-chain incentives drive innovation. They contend that yield can come from decentralized finance tools like liquidity pools or other blockchain-based systems, and that banning yield would slow growth and weaken U.S. competitiveness in digital finance. Companies such as Coinbase and Ripple have participated in the discussions.
This third meeting follows two earlier sessions that failed to resolve the growing dispute. Participants described the second meeting earlier in February as more detailed and productive, but no agreement emerged. The outcome of this meeting is seen as critical and could influence the future structure of digital dollar products in the United States, potentially shaping the next phase of U.S. crypto oversight.
The issue has become urgent as lawmakers work on broader digital asset legislation, including the stalled CLARITY Act. Officials want progress before momentum stalls again in Congress.
