The White House is currently in discussions with cryptocurrency companies and banks regarding the stablecoin yield issue

BlockBeats News, February 3rd, the cryptocurrency advocacy organization stated that the White House's meeting on Monday regarding "How to Define Stablecoin Yield" was a "significant step" and a push for progress needed for crypto legislation amidst ongoing legislative processes. However, the formation of related compromise solutions may not be smooth.

Representatives from Coinbase, major crypto industry associations, and banking organizations gathered in Washington D.C. to discuss the regulatory approach to stablecoin yields and whether third parties, including Coinbase, should be allowed to offer such yields. The meeting was chaired by Patrick Witt, a member of the President's Digital Asset Policy Advisory Board.

CEO of the Blockchain Association, Summer Mersinger, stated, "Today's meeting at the White House is a significant step towards advancing bipartisan-supported digital asset market structure legislative solutions. We appreciate Patrick Witt and the government's leadership in convening stakeholders to collectively address one of the key outstanding issues, stablecoin yields."