The White House holds the third closed-door meeting on stablecoins, discussing differences over incentive mechanisms

The White House held the third round of closed-door meetings on Thursday, inviting representatives from the crypto industry and banking groups to discuss the stablecoin rewards mechanism. The meeting lasted several hours without reaching a final compromise. Ji Hun Kim, CEO of Crypto Council for Innovation, stated that the discussions advanced the framework-building process, aiming to protect consumers and enhance U.S. competitiveness. Paul Grewal, Chief Legal Officer of an exchange, said the discussions were cooperative and constructive, suggesting that negotiations will continue. According to sources, the White House proposed a principled plan allowing companies to offer rewards based on specific activities or account balances, but the banking sector remains cautious, and it is still uncertain whether another round of meetings will be held. Participating organizations included Ripple, Blockchain Association, Crypto Council for Innovation, and several major banking associations.