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flag White House to mediate bank-crypto clash over stablecoin rules amid fears of $500B deposit loss and stalled Clarity Act.

flag The White House will host a meeting between bank and crypto industry leaders to resolve disputes blocking the Clarity Act, focusing on rules for interest and rewards on dollar-pegged stablecoins. flag Banks warn such incentives could trigger a $500 billion deposit outflow by 2028, threatening financial stability, while crypto firms say they are vital for growth and competitiveness. flag The Senate postponed a vote due to unresolved concerns and Republican divisions, though the House passed its version in July. flag The meeting, led by the White House crypto council, aims to find common ground amid high stakes for regulatory clarity and U.S. leadership in digital finance.

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