After the bankers shared a document at the White House demanding a total ban on stablecoin yield, the crypto side answers that it needs some stablecoin rewards.
Updated Feb 14, 2026, 4: 02 a.m. Published Feb 13, 2026, 7: 25 p.m.
The current impasse over stablecoin yields in the U.S. Senate’s crypto market structure bill is now in writing, and the crypto side is holding the line on needing some forms of rewards for stablecoin users.
A White House meeting between Wall Street bankers and crypto executives hit a wall this week, despite officials in President Donald Trump’s administration urging the sides to find a compromise. The banks held their line that no stablecoin yield or reward is acceptable, arguing that such yields threaten the depository activity at the heart of the U.S. banking system, explaining their position in a one-page paper entitled “Yield and Interest Prohibition Principles.”
The Digital Chamber has now penned its own set of principles and began circulating it on Friday, defending the need for the section in the Senate Banking Committee’s draft bill that outlines a range of situations in which rewards could be acceptable. The latest document, obtained by CoinDesk, also says that the bankers’ request for a two-year study on stablecoins’ effect on deposits is acceptable, as long as it doesn’t come with an automatic regulatory rulemaking in response.
“We want to make the case known for policymakers that we do think this is a compromise,” said Digital Chamber CEO Cody Carbone, in an interview on Friday. With this document, the industry group is putting in writing that it’s willing to give up ground on anything that looks like an interest payment for static holdings of stablecoins, which would most closely resemble a bank savings account.
While the crypto sector has been pursuing stablecoin products allowed under last year’s Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, the bankers are trying to dial back that law with edits included in this pending Digital Asset Market Clarity Act. But the GENIUS Act represents the current law of the land, so Carbone suggested that his industry’s willingness to scrap rewards on stablecoin holdings is a significant concession, and the crypto companies should still be able to offer rewards when customers engage in transactions and other activity. Bankers should return to the table to talk again, he said.
“if they don’t negotiate, then the status quo is that just rewards continue as-is,” said Carbone, who suggested that his group’s wide membership — which includes banking members — can put it closer to the middle of the discussion. “If they do nothing and they continue to say, ‘We just want a blanket prohibition,’ this goes nowhere.”
He hopes the