The White House is set to bring together executives from Coinbase, major banks, and crypto lobbying groups on February 2, 2026, as it tries to break the deadlock over the stalled CLARITY Act, a key piece of legislation aimed at regulating digital asset markets.
First reported by Reuters, the meeting will be hosted by the administration’s crypto council and is expected to include leaders from several industry trade groups. People familiar with the discussions say the talks will focus on one of the bill’s most contentious issues: how interest and rewards on dollar-backed stablecoins held by customers should be treated.
Despite nearly two weeks of negotiations, a compromise has yet to emerge. Sources say that if no agreement is reached by Monday, the White House meeting itself could be pushed back.
Coinbase Set to Join Talks
Bloomberg reported Thursday that Coinbase will also have a representative at the meeting, underscoring the company’s central role in the ongoing debate.
The talks follow a major setback for the bill in mid-January, when Coinbase CEO Brian Armstrong publicly withdrew support for the draft legislation. Within hours of that announcement, Senate Banking Committee Chairman Tim Scott said the markup of the bill would be postponed.
Since then, momentum around the CLARITY Act has slowed. Cryptonews reported last week that the long-anticipated legislation is now expected to be delayed until late February or March.
Still, pressure to move the bill forward is growing. Patrick Witt, executive director of the White House’s Crypto Council, has urged lawmakers to move quickly, arguing that regulatory clarity is urgently needed. Meanwhile, Bitwise CIO Matt Hougan warned this week that failing to pass comprehensive rules could push digital assets into what he called a prolonged “show me” phase, where markets demand proof of legitimacy and stability.
Parallel Efforts in the Senate
Separately, the Senate Agriculture Committee has released its own version of a crypto market structure bill. The committee was forced to delay its planned markup this week due to a winter storm in Washington, D.C., and has rescheduled the session for Thursday.
Industry groups have welcomed the White House’s attempt to bring both sides together. The Blockchain Association recently thanked the administration for convening stakeholders to work through disagreements over stablecoin rewards.
“Any lasting and effective market structure legislation must reflect bipartisan engagement and collaboration,” said Blockchain Association CEO Summer Mersinger. She added that the group supports efforts to deliver clear rules that protect consumers while still allowing responsible innovation to move forward.
