The White House will convene a meeting next week with senior executives from banks and the crypto industry to discuss digital asset legislation.

According to Reuters, the White House plans to host a closed-door meeting next week with senior executives from the banking and crypto industries to discuss the stalled digital asset legislation in the Senate. Sources indicate the meeting will be led by the White House Crypto Affairs Committee. The report notes that the core issue will focus on the regulatory treatment of stablecoin rewards, a major point of contention in the Senate Banking Committee's legislative process. Tensions between the banking industry and crypto companies over this issue have escalated in recent months. The previously passed GENIUS Stablecoin Framework Act prohibits stablecoin issuers from directly paying interest to holders, but leaves room for third-party platforms, including Coinbase, to provide reward mechanisms, drawing opposition from banking lobbying groups. The Blockchain Association has confirmed its participation in the meeting. Its CEO, Summer Mersinger, stated that Congress has an opportunity at this juncture to push for a stable, bipartisan regulatory framework that protects consumers while promoting responsible innovation and ensuring the United States maintains its global leadership in next-generation financial and internet technologies.