The White House Hosts Second «CLARITY Act» Special Meeting, Deemed «Productive», but Banking Industry Remains Obstinate on Stablecoin Yield Issue

BlockBeats News, February 11, Today, the White House hosted the second Cryptocurrency Summit, bringing together teams representing the digital asset industry and traditional banking industry. The purpose of this summit was to bridge the gap between the two sides on multiple issues, with perhaps the most crucial being the stablecoin yield issue.

Cryptocurrency journalist Eleanor Terrett stated that compared to the previous summit, this was a "smaller scale, more efficient" meeting. She listed the primary agenda item as banning stablecoins from generating yield, as banks claimed this would harm their "main street" lending business. Even though the reality is quite the opposite.

Stuart Alderoty, Chief Legal Officer of Ripple, suggested that a consensus may be imminent: "Today's meeting at the White House was productive—an atmosphere of compromise is forming. A clear bipartisan momentum still exists in terms of sensible cryptocurrency market structure legislation. We should act now while the window is still open to secure a true victory for consumers and America."

Paul Grewal, Chief Legal Officer of Coinbase, stated: "The crypto industry is ready to move forward, and we have all made progress. Of course, there is still more work to be done, and we hope all parties can continue to stay at the negotiating table and make the right choices."

The banking industry remains stubborn on the stablecoin yield issue, but the U.S. government hopes to complete the relevant work by the end of February.

As of the time of publication, the probability on Polymarket of the "《CLARITY Act》 passing legislation by 2026" is currently at 56%, showing no significant fluctuation.