The White House holds its third closed door meeting on stablecoins to discuss differences in reward mechanisms

The White House held its third closed door meeting on Thursday, inviting representatives from the cryptocurrency industry and banking groups to discuss the stablecoin reward mechanism. The meeting lasted for several hours without reaching a final compromise. Crypto Council for Innovation CEO Ji Hun Kim Discuss advancing the framework construction with the goal of protecting consumers and enhancing American competitiveness. Paul Grewal, Chief Legal Officer of Coinbase, stated that the discussions on cooperation were constructive and hinted that further negotiations would continue. Insiders revealed that the White House has proposed a principled plan to allow companies to provide rewards based on specific activities or account balances, but banks remain cautious and it has not been determined whether to hold the next round of meetings. The attending institutions include Ripple, Blockchain Association, Crypto Council for Innovation, and several major banking associations.