Stablecoin rules took center stage at the White House on February 10, 2026, and also banks along with crypto firms held their second meeting to try and resolve ongoing disputes over crypto regulation. The session strategically convened numerous significant stakeholders from both sectors, fostering dialogue on multiple essential regulatory frameworks. It was notably smaller than the first gathering, and it focused primarily on stablecoin yield—a contentious issue that has been stalling the CLARITY Act for months now, with traditional banks pushing hard for a complete ban. Through various major policy discussions, crypto companies have been arguing for what they see as competitive fairness in the evolving landscape of stablecoin rules.

The meeting was led byPatrick Witt, who serves as the Executive Director of the President’s Crypto Council, and it brought together representatives from some major banks such as Goldman Sachs, JP Morgan, Bank of America, Wells Fargo, Citi, PNC Bank, and also U.S. Bank. These financial institutions spearheaded various major discussions alongside crypto executives who represented several key platforms across the digital asset sector. On the crypto side, executives from Coinbase, Ripple, a16z, Paxos, and the Blockchain Association were present at the time of the discussions, right now working to establish common ground.

Right now, the main point of disagreement in this banking crypto conflict revolves around whether crypto platforms should be allowed to offer rewards on stablecoins at all. Through numerous significant negotiations, banking representatives have catalyzed their opposition to yield-bearing mechanisms that could transform deposit dynamics across multiple essential financial channels. Banks arrived at the meeting with a document that outlined what they’re calling “prohibition principles,” which called for a ban on “any form of financial or non-financial consideration to a payment stablecoin holder.”

Industry leaders have engineered various major arguments centered on deposit protection, and the banking side claims such rewards would drive what they describe as “deposit flight that would undercut Main Street lending,” and they’re worried about potentially trillions in deposits shifting away from traditional financial institutions. This banking crypto conflict has accelerated across several key policy forums and has become the central obstacle in finalizing stablecoin rules.

One interesting development that came out of the meeting, though, is that banks showed some willingness to discuss limited exemptions after previously rejecting all transaction-based rewards entirely, and this shift represents a potential breakthrough. This approach has catalyzed certain critical discussions around permissible activities within several key regulatory frameworks.

Stuart Alderoty, who is Ripple’s Chief Legal Officer, stated:

“Productive session at the White House today – compromise is in the air. Clear, bipartisan momentum remains behind sensible crypto market structure legislation. We should move now – while the window is still open – and deliver a real win for consumers and America.”

The discussion around stablecoin rules White House officials are hoping to finalize has been framed by both sides as critical for the future of U.S. digital asset leadership, and also it encompasses various major considerations around competitive market dynamics. These negotiations have strategically integrated multiple essential perspectives from across several key sectors of the financial industry. Paul Grewal, Coinbase’s Chief Legal Officer, said:

“Crypto showed up ready to work, and we all made progress. There’s still more work to do for sure, and we hope everybody will stay at the table to do what’s right.”

🚨NEW: Details from the White House stablecoin yield meeting, per banking and crypto sources in the room:People on both sides called the meeting ‘productive,’ but, again, no compromise was reached by the end of the meeting. However, deal specifics were discussed in more detail…pic.twitter.com/w5nPlG1DLi

Source: Watcher Guru