The White House held the third round of closed-door meetings on stablecoins, and crypto executives stated that "there are still further developments."

The White House held a third round of closed-door meetings on Thursday, inviting representatives from the crypto industry and banking groups to discuss the stablecoin reward mechanism. The meeting lasted for several hours and was described by attendees as a "constructive dialogue," but no final compromise has been reached.

Ji Hun Kim, CEO of the Crypto Council for Innovation, stated that the meeting further advanced the framework building based on previous discussions, aiming to enhance U.S. competitiveness while protecting consumers. Paul Grewal, Chief Legal Officer of Coinbase, also described the discussions as "cooperative in tone and constructive," suggesting that negotiations will continue.

The stablecoin holding reward mechanism is a key point of divergence in the current crypto market structure legislation. Sources revealed that the White House proposed some principled options, allowing businesses to offer rewards based on specific activities or account balances, but the banking side remains cautious. It is still uncertain whether a next round of meetings will be held. Participating organizations included Ripple, the Blockchain Association, the Crypto Council for Innovation, and several major banking associations.