White House, Banks and Crypto Groups Resume Talks on Stablecoin Rewards

In brief

• U.S. officials met Thursday with banks and crypto industry groups to discuss how stablecoin rewards could be treated under pending market-structure legislation.
• The talks focused on whether incentives can be structured without classifying stablecoin issuers as deposit-taking institutions.
• Stablecoin rewards have emerged as a central obstacle to moving forward with the CLARITY Act.