Just finished reading an update about the White House meeting for the second time. So they gathered banks and crypto leaders again to discuss the latest U.S. crypto market structure bill. The result? No breakthrough yet, still stuck on stablecoin issues.

What’s interesting is Stuart Alderoty said the session was productive and compromise is in the air. But the reality is bipartisan momentum still exists, just the same obstacle remains—regulation of stablecoin results. This is the main barrier to moving forward with this new bill.

For context: The House already passed the CLARITY Act last July, but it’s stalled in the Senate. Why? Because major crypto platforms like Coinbase withdrew their support, worried about overly strict stablecoin result bans. On the other hand, banks strongly oppose stablecoin result ideas, fearing threats to deposits and financial stability.

In that meeting, banking representatives came with clear prevention principles—not for technical negotiations. They distributed documents firmly supporting the stablecoin result ban. Three major banking associations also issued a joint statement saying ongoing discussions are needed, but they still emphasize financial safety must be a priority.

There were also crypto executives who said—just separate the stablecoin result debate from broader market structure reforms. Mike Belshe said the GENIUS Act already limits stablecoin issuers from paying direct yields, so why debate it again?

TL;DR: The latest bill is still stalled because of stablecoin deadlock. Both sides are engaged but no compromise yet. The legislative window is still open, they say, but the clock is ticking. This is an important development to watch if you’re concerned about U.S. crypto regulation.