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Insider: The White House supports some stablecoin reward programs and urges banks to advance the Market Structure Act
Techub News reports, citing sources familiar with the matter, that the White House expressed support for certain stablecoin reward programs during talks with the banking and crypto industries, and urged the banking sector to reach an agreement on the Market Structure Act. Sources revealed that if the banking industry agrees, restricted stablecoin rewards will be included in the next draft of the Clarity Act.
At the meeting, a White House team led by Trump’s crypto advisor Patrick Witt clearly stated that reward programs for certain activities would be retained in the bill, except for stablecoin holdings similar to deposit accounts. Summer Mersinger, CEO of the Blockchain Association, said the meeting marked a constructive step forward in addressing reward-related issues and maintaining progress on market structure legislation. Currently, the bill still needs to address demands from Democrats to strengthen regulation in the DeFi sector, prohibit senior government officials from directly participating in the crypto industry, and fill vacancies at the CFTC and SEC.