Negotiations between banks and crypto executives at the White House over stablecoin yields ended without agreement, as the March 1 deadline looms. The discussions focused on whether crypto firms can offer yields on dollar-pegged tokens without impacting traditional bank deposits. Despite a productive session, no compromise was reached, with banks advocating for a broad ban on yield-bearing stablecoins, citing potential deposit flight risks.
The meeting, led by Patrick Witt of the President’s Crypto Council, included major banks like JPMorgan and Goldman Sachs, and crypto firms such as Coinbase and Ripple. While some concessions were discussed, the scope of permissible activities remains contested. Further talks are anticipated, though it's unclear if another White House meeting will occur before the deadline.
White House Stablecoin Yield Talks Stall as March Deadline Nears
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