- White House schedules February 10 meeting with banks joining stablecoin policy discussions.
- Talks focus on stablecoin yields and broader digital asset regulatory framework progress.
- Officials push the CLARITY Act to align SEC and CFTC oversight responsibilities.
The White House has scheduled another round of discussions on stablecoin policy for February 10, bringing together representatives from major banks, crypto industry trade groups, and government officials.
The meeting will take place at the staff level but is expected to mark the first time bank representatives participate directly in the ongoing talks.
Stablecoin Yield Debate Remains Key Issue
Officials and industry participants are continuing discussions on whether stablecoins should be allowed to offer yield to users. Some banks have expressed concerns that yield-bearing stablecoins could draw deposits away from traditional financial institutions, while parts of the crypto industry argue that such features could encourage innovation and broader adoption of digital assets.
Negotiators are working toward a potential compromise that could allow progress on broader digital-asset legislation later this year.
CLARITY Act Push Gains Momentum
On the regulatory side, senior administration officials, including Scott Bessent, Paul Atkins, and Cynthia Lummis, urge the Senate to pass the Digital Asset Market Clarity Act, commonly known as the CLARITY Act. The bill previously passed the House of Representatives with bipartisan support.
Atkins said regulators are working to align oversight frameworks to provide clearer rules for the industry, stating, “We are out to harmonize the rules between the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission, giving clarity and certainty to innovators and investors so people can build in the United States instead of going offshore.”
The proposed legislation aims to clarify the regulatory responsibilities of the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission, defining which digital assets fall under securities or commodities oversight and establishing rules for exchanges, compliance, and anti-money-laundering safeguards.
Related: CFTC Revises Rules to Let National Trust Bank Issue Stablecoins
Atkins On Tokenized Securities
During recent discussions on financial innovation, Atkins also stressed that tokenization, could help innovators save both time and operational costs by streamlining settlement and record-keeping processes.
He explained that a tokenized security represents digital ownership of an underlying asset, such as shares in a company or units of an investment fund, similar to traditional securities but recorded and transferred on blockchain systems rather than through conventional clearing infrastructure.
Related: China Reiterates Ban on Unapproved Overseas Yuan-Linked Stablecoins
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