The White House’s closed-door meeting on the CLARITY Act is seen as a collaborative working session, not a confrontation, as talks focused on stablecoin yields.

The White House will be holding its second closed-door meeting on Tuesday after its last meeting on February 2, 2026, with representatives from the crypto and banking industries to break deadlocks on the CLARITY Act, focusing on disputes over stablecoin yields and rewards. 

The second closed-door meeting would discuss that the key disputes center on stablecoin yields and rewards, which could shift billions in liquidity from banks to crypto if allowed. This could potentially favor traditional finance or stall the bill’s Senate progress, according to reports.

“The White House continues to engage in productive conversations to advance President Trump’s agenda of cementing American dominance in the cutting-edge technologies of the future,” White House spokesman Kush Desai told Reuters.

Inside The White House’s Closed-Door Talks

The White House’s meeting on stablecoin yields would involve senior policy executives from Coinbase (COIN), Blockchain Association, Digital Chamber, Crypto Council, ABA, and ICBA, and not CEOs. Crypto journalist Eleanor Terrett described it as a collaborative working session, “not ambushing or ganging up on either side,” and likely the first of several discussions.

Political Pressure Mounts On Crypto Firms

Tensions sharpened after Scott Bessent criticized Coinbase for opposing the CLARITY Act, describing the exchange as a “recalcitrant actor,” arguing that resistance from major crypto firms was slowing progress on legislation meant to advance President Trump’s crypto agenda and deliver long-sought regulatory clarity.

Project Crypto Initiative

Complementing these negotiations, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have advanced regulatory harmony through their joint “Project Crypto” initiative, relaunched in late January. The effort would aim to clarify asset classifications, reduce jurisdictional overlap, and support innovations like tokenized assets, prediction markets, and stablecoins under a more predictable framework, which is a shift from past enforcement-heavy approaches.

The CLARITY Act: Where Does It Stand Now?

The Digital Asset Market Clarity Act of 2025 (CLARITY Act) is a bipartisan bill that aims to clarify U.S. crypto rules by putting most digital commodities under CFTC oversight, while the SEC keeps authority over areas like stablecoin yields.

The bill passed the House in 2025 but remains stalled in the Senate Banking Committee over concerns that stablecoin rewards could pull deposits from banks, with no progress reported as of Tuesday.