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White House to mediate bank-crypto clash over stablecoin rules amid fears of $500B deposit loss and stalled Clarity Act.
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.
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.
The Senate postponed a vote due to unresolved concerns and Republican divisions, though the House passed its version in July.
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.
La Casa Blanca para mediar el choque entre bancos y criptomonedas sobre las reglas de las monedas estables en medio de temores de pérdida de depósitos de $500 mil millones y la Ley de Claridad estancada.