White House crypto advisers held their second closed-door session on February 10, pressing industry and banking leaders to resolve the stablecoin yield debate before an end-of-February deadline.
Senior White House officials convened crypto industry executives and banking lobbyists on February 10 for a pivotal negotiation session aimed at advancing the CLARITY Act, the landmark legislation that would finally define which U.S. regulator oversees digital assets.
White House crypto advisers, led by Patrick Witt, hosted their second closed-door meeting on February 10 to hash out the most contentious provisions of the CLARITY Act and related market structure legislation. Representatives from Coinbase, Circle, Ripple, and Crypto.com sat across from the American Bankers Association and the Financial Services Forum, which represents top Wall Street CEOs.
The central sticking point remains stablecoin yields. The crypto industry wants issuers to offer interest-bearing products on tokenized deposits, while banks argue these instruments would "catastrophically compete" with traditional banking deposits, threatening the flow of credit to households and small businesses. The White House directed both sides to reach a compromise by the end of February.
The bill already cleared the Senate Agriculture Committee last week, but passage through the Senate Banking Committee remains uncertain. Democrats are also pushing for anti-corruption provisions addressing potential conflicts of interest tied to political figures' crypto holdings.
The meeting signals a significant shift in how Washington treats digital assets. By hosting negotiations at the White House level, policymakers are acknowledging that crypto markets are now systemically relevant, not a niche concern.
The CLARITY Act would resolve a years-long jurisdictional battle between the SEC and CFTC over which agency oversees different types of digital assets. Combined with the GENIUS Act on stablecoins, these bills could establish the first comprehensive U.S. crypto regulatory framework. A Goldman Sachs survey found that 35% of institutions cite regulatory uncertainty as their biggest hurdle to crypto adoption, while 32% view regulatory clarity as the top catalyst for entering the market.
For the broader crypto market, which has been rattled by a sharp sell-off this month, regulatory clarity could provide a floor of institutional confidence. Bitcoin currently trades around $71,000 after falling from above $126,000 in October 2025.
The end-of-February deadline for a stablecoin yield compromise will be the first test of whether this legislative push has real momentum. If negotiators fail to bridge the gap, the CLARITY Act could stall in committee, pushing comprehensive regulation into 2027. Over 100 new crypto ETFs are anticipated to launch this year, and many depend on the regulatory clarity these bills would provide.
The White House's direct involvement elevates crypto regulation from a niche policy debate to a top-tier economic priority. Whether the February deadline produces a workable compromise or another stalemate will shape the trajectory of U.S. digital asset policy for years to come.
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