Senior cryptocurrency executives and banking officials have returned to the table in Washington as the White House seeks to unlock stalled negotiations around the Clarity Act, a bill viewed as central to shaping the US digital asset framework.
Reporting on the Blockchain Bulletin, host Callum Williams said the meeting was intended to “restart talks” after months of limited progress. The core obstacle remains a proposed ban on interest-bearing stablecoins, a provision that continues to face strong resistance from industry participants who argue it would undermine legitimate use cases and push innovation offshore.
Williams noted that while the interest ban is still “holding the bill back”, engagement between regulators and market stakeholders has resumed. Importantly for the sector, the tone of the discussions appeared more pragmatic than previous rounds.
Patrick Witt, Executive Director, President’s Council of Advisers for Digital Assets, described the talks as “solutions orientated”, signalling a potential shift away from rigid policy positions.
The renewed US dialogue comes as stablecoin activity accelerates globally. Williams highlighted that investors in Tether recently blocked a proposed funding round that could have valued the firm at $500bn, arguing that the company’s profitability made external capital unnecessary.
Meanwhile, European banks are moving to assert greater control over the market. BBVA has partnered with BNP Paribas and ING to launch a euro-backed stablecoin by the second half of 2026, targeting the dominance of dollar-pegged tokens.
Regulatory momentum is also building in Asia. Hong Kong is preparing to issue its first stablecoin licences in March, with applicants required to hold at least HK$25m in capital.
Finally, data from Orbital shows retail usage rising sharply, with stablecoin payments under $10,000 surging year-on-year. USDT accounted for 73% of those transactions as the user base doubled over the past 12 months.
