White House: Supports partial stablecoin reward programs and urges banks to expedite the advancement of market structure legislation

According to CoinDesk, the White House expressed support for certain stablecoin reward programs during talks with the banking and crypto industries, urging the banking sector to reach an agreement on the market structure bill.

According to sources, if the banking sector agrees, limited stablecoin rewards will be included in the next draft of the U.S. Senate's Digital Asset Market Clarity Act.

At Thursday's meeting, the White House team, led by Trump crypto advisor Patrick Witt, made it clear that reward programs for certain activities would remain in the bill, but rewards for stablecoin holdings similar to deposit accounts would be excluded.

Blockchain Association CEO Summer Mersinger stated that the meeting took a constructive step in addressing reward-related issues and maintaining the legislative process for market structure. Currently, the bill still needs to address demands from Democrats to strengthen regulation in the DeFi space, prohibit senior government officials from directly participating in the crypto industry, and fill vacancies among CFTC and SEC commissioners.