2026 Crypto Legislation Stalemate: White House Meeting Fails to Bridge Bank

Feb 4, 2026

A White House meeting aimed at breaking a months-long stalemate between major U.S. banks and cryptocurrency firms ended Monday without any agreement, according to a Reuters report. The closed-door session, convened by the White House’s crypto council, brought together representatives from the crypto industry and the banking industry in an effort to reach an agreement on stalled crypto market structure legislation.

Representatives from trade groups for the banking and crypto industries were in attendance, including the American Bankers Association, the Independent Community Bankers of America, the Blockchain Association and The Digital Chamber. Both sides emerged from the meeting describing it as constructive, but fundamental disagreements remained unresolved.

Crypto market structure legislation has been held up by a clash over how the bill treats interest and other rewards paid on stablecoins. Banks have been pushing for language in the bill prohibiting the practice. Crypto companies say providing rewards such as interest is crucial for recruiting new customers and that barring them from doing so would be anti-competitive. Banks say the increased competition could result in insured lenders experiencing an exodus of deposits, potentially threatening financial stability.

Monday’s White House meeting was intended to forge compromise after the Senate Banking Committee postponed a markup last month. While both sides in statements called the meeting constructive, it did not result in an agreement, according to one source who attended and declined to be identified discussing private policy discussions. The source anticipated that there will be subsequent White House meetings in an effort to resolve the impasse.

The Clarity Act aims to create federal rules for digital assets. The House of Representatives passed its version of the bill in July.

Source: IndexBox Market Intelligence Platform