U.S. banking trade associations said they welcomed a White House meeting this week on proposed crypto market structure legislation that aims to clarify rules for digital asset markets and stablecoins, issuing a joint statement saying they look forward to continued engagement with policymakers.
The American Bankers Association, Bank Policy Institute, Consumer Bankers Association, Financial Services Forum and the Independent Community Bankers of America said in a joint press release that they were “thankful” for the opportunity to discuss legislative proposals at the White House and that banks of all sizes “will continue to work with lawmakers and the administration” on crafting policy around digital assets.
The associations emphasised that any legislation should strike a balance between fostering financial innovation and ensuring the safety and soundness of the financial system, particularly regarding bank deposits and local lending that support families and small businesses. They expressed optimism about ongoing discussions aimed at advancing thoughtful and effective rules for digital asset markets.
Lawmakers and industry stakeholders have been debating how to regulate digital assets and stablecoins for months, with particular contention over how to treat yield-bearing and interest-paying stablecoins — a sticking point that has delayed movement on market structure legislation in the Senate. Recent meetings involving crypto firms, banks and regulators have focused on narrowing those disputes so the bill can move forward.
Both banking trade groups and crypto advocates have been involved in discussions hosted by the White House and other federal policymakers, reflecting the growing effort to reach bipartisan consensus on how to modernise the regulatory framework for digital assets while protecting traditional financial markets.