Third closed-door White House meeting held February 19 focused on stablecoin rewards and yields under pending U.S. legislation.
Participants included Coinbase, Ripple, Crypto Council for Innovation, Blockchain Association, and major bank trade groups.
Leaders described the session as constructive, signaling “more to come” on a consumer-friendly framework.
Discussions center on allowing platform-level rewards without treating stablecoin issuers as deposit-taking banks.
Ripple CEO Brad Garlinghouse gives the linked CLARITY Act a 90% chance of passing by end of April.
Crypto industry representatives and traditional banking groups returned to the White House on February 19 for their third closed-door session on stablecoin rewards, a critical sticking point in broader U.S. digital asset market structure legislation.
According to a detailed report by The Block, the hours-long meeting that began at 9 a.m. ET built directly on prior discussions to shape a framework serving American consumers while strengthening U.S. competitiveness in digital assets. Ji Hun Kim, CEO of the Crypto Council for Innovation, described the talks as constructive, stating, “The conversation built upon previous meetings to establish a framework that serves American consumers while reinforcing U.S. competitiveness. More to come to build upon today’s progress.”
The Crypto Council for Innovation further highlighted the engagement in a post on X: @crypto_council.
CCI returned to the White House today to discuss stablecoin rewards within market structure legislation and a clear path forward. Thank you to the @whitehouse @patrickjwitt and fellow participants. Our CEO @_jikim’s statement: pic.twitter.com/3U9J1vb1sb
— Crypto Council for Innovation (@crypto_council) February 19, 2026
Coinbase Chief Legal Officer Paul Grewal echoed the positive tone, calling the dialogue “constructive and the tone cooperative.” Coverage from Decrypt confirms the focus remained on whether incentives for stablecoin holdings can be structured without issuers being deemed deposit-taking institutions.
Key participants included representatives from Ripple, the Blockchain Association, the Crypto Council for Innovation, and bank trade associations such as the American Bankers Association, Bank Policy Institute, and Independent Community Bankers of America. No individual banks attended directly. The White House appeared intent on driving toward resolution, though no compromise was announced.
The debate ties closely to the GENIUS Act passed last summer, which prohibits direct interest payments by stablecoin issuers but leaves room for third-party platforms to offer rewards. Banks argue that yields could drain deposits and harm lending; crypto firms counter that restrictions would stifle innovation and competitiveness.
This issue is central to the CLARITY Act, which would clarify jurisdiction between the SEC and CFTC for digital assets. CoinDesk reports that Ripple CEO Brad Garlinghouse, speaking on Fox Business, now sees a 90% chance the bill will pass by the end of April, citing renewed White House momentum and engagement from lawmakers.
While challenges remain—including political considerations and the need for Senate Banking Committee action—the continued dialogue underscores growing bipartisan and executive support for regulatory clarity. Resolution could accelerate stablecoin adoption and tokenized asset growth, though failure to bridge the yield gap risks delaying broader market structure reform.
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.
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