Armstrong pushes White House crypto deal

Coinbase chief executive Brian Armstrong said he is confident a breakthrough can be reached between the White House, major banks and the crypto industry over US market structure legislation.

“I’m confident we can achieve a market structure win-win that advances the President’s crypto agenda while addressing the concerns of the banks,”

Armstrong wrote on X, adding that Coinbase remains focused on protecting crypto users.

High-level meetings convened by the White House this month included representatives from Coinbase, Ripple, the Blockchain Association, the American Bankers Association and executives from JPMorgan, Goldman Sachs and Citi to resolve disputes over the Digital Asset Market Clarity Act.

The central sticking point is stablecoin yield, with banks pushing for restrictions due to deposit flight concerns while crypto firms argue for activity-based rewards to preserve innovation and consumer choice.

“We’re making good progress towards reaching a win-win-win between the White House, banks and crypto,”

Armstrong said, emphasising the importance of maintaining rewards for users.