In a high-profile engagement that brought together traditional finance and the burgeoning crypto industry, a coalition of major banking trade associations has issued a joint statement following a White House meeting on crypto market structure legislation. The announcement reflects both the continuing interest of the banking sector in digital asset regulation and the ongoing tension over how new laws should govern the intersection of cryptocurrencies and the broader financial system.
On February 2, 2026, representatives from key banking organizations — including the American Bankers Association, Bank Policy Institute, Consumer Bankers Association, Financial Services Forum, and the Independent Community Bankers of America — met at the White House with government officials and other industry stakeholders to discuss proposed crypto market structure legislation. In the joint statement released afterward, these groups thanked the administration for convening the conversation and emphasized the need for thoughtful, effective policy around digital assets that preserves core banking functions and supports economic growth.
The joint statement issued by the banking groups struck a notably diplomatic tone. While welcoming the administration’s efforts to engage diverse industry voices, the associations underscored that any regulatory framework must uphold the safety, soundness and stability of the financial system, particularly with regard to traditional lending and community banking, which plays a critical role in financing families and small businesses across the United States. Banks of all sizes, the statement affirmed, are committed to working constructively with lawmakers, the White House, and other stakeholders to shape legislation that governs digital assets while protecting the broader economy.
The participation of the Bank Policy Institute, in particular, highlights the seriousness with which large financial institutions are watching the evolution of crypto regulation. As a nonpartisan research and advocacy organization representing universal, regional and major foreign banks operating in the U.S., the institute has been actively analyzing regulatory and monetary policy topics, offering guidance on matters ranging from cybersecurity to market integrity. Its inclusion in the statement signals that traditional banking voices intend to have a seat at the table as lawmakers and regulators refine digital asset oversight.
The meeting came at a critical juncture in the long-running debate over U.S. crypto legislation. Lawmakers have been working on a crypto market structure bill, a major piece of policy designed to provide clarity on the rules governing digital asset trading, custodial services, and investor protections. This bill follows previous legislative efforts such as the GENIUS Act, which established a regulatory framework for payment stablecoins, but the broader market structure legislation would extend those principles to a wider range of digital assets.
Despite bipartisan interest in advancing such legislation, progress has been stalled by disagreements between industry stakeholders. One central point of contention has been the treatment of stablecoin yields and rewards — whether digital asset issuers should be permitted to offer interest or reward-earning features to holders. Banks have voiced concerns that yield-bearing stablecoins could siphon deposits away from traditional financial institutions, potentially undermining their ability to lend and affecting deposit stability. By contrast, many crypto firms argue that yield and rewards are essential to remain competitive and meet consumer demand in the digital financial ecosystem.
Indeed, recent reports indicate that the White House meeting ended without a complete agreement on critical issues, particularly the stablecoin yield question. Participants from both sectors acknowledged that significant differences remain, even as the session was described as constructive and solutions-oriented by some observers. The unresolved debates continue to slow the legislative process and leave the market structure bill in a state of limbo, with further discussions expected in the coming weeks and months.
One consistent theme from the banking groups’ involvement has been the importance of aligning digital asset regulation with traditional financial system objectives, such as protecting depositors, maintaining stable credit markets, and ensuring robust oversight. In the joint statement, the associations collectively emphasized that any new policy must support local lending activities — a foundational function of community banks that underpins economic growth across regions and sectors. This emphasis reflects long-standing concerns that overly permissive crypto regulation could disrupt existing banking models without providing commensurate protections.
Additionally, banking trade groups have previously engaged in advocacy related to stablecoin risks. Research circulated among these associations has highlighted concerns that certain stablecoin models — especially those offering interest or yield — could reduce traditional bank deposits and impede lending capacity. These discussions feed directly into the White House meeting’s agenda, where technical and policy implications of stablecoin provisions were a central focus.
The involvement of major financial industry bodies in crypto policy talks reflects a broader trend: the increasing entanglement of digital assets with mainstream finance. Although cryptocurrencies once operated largely on the periphery of traditional markets, that dynamic has shifted as institutional participation, regulated investment products and payment innovations have expanded. This crossover has made it harder for policymakers to treat crypto in isolation; instead, digital assets have become part of broader conversations about financial stability, capital markets structure and consumer protection.
For banks, engaging in these discussions is not merely a regulatory formality — it represents an effort to shape rules in ways that align with systemic risk management and existing banking frameworks. At the same time, the industry recognizes that digital asset technologies carry potential for innovation in payments, efficiency and financial inclusion. The challenge for regulators, industry groups and legislators is to find a balanced approach that permits innovation while guarding against systemic risks that could undermine confidence in the financial system.
Reactions to the banking groups’ statement have been mixed within the crypto community. Advocacy organizations that also participated in White House discussions described the talks as an opportunity to bridge differences, even as major sticking points remain. Some industry voices emphasized the need for pro-innovation, pro-consumer policies that accommodate digital asset growth without imposing undue burdens. The dialogue between banking representatives and crypto leaders, though constructive, has underscored how divergent priorities still are across sectors.
Looking ahead, the White House’s willingness to host these meetings signals a broader commitment to addressing regulatory roadblocks and finding legislative solutions. However, the ongoing debate over key provisions — especially stablecoin yields — continues to delay progress on the market structure bill. With expectations now set for further negotiation and potential deadlines set by policymakers, industry observers anticipate that the coming weeks will be pivotal in determining whether a compromise can be achieved.
The joint statement issued by banking trade groups after the White House crypto market structure meeting represents an important moment in the intersection of finance and digital assets. It illustrates how traditional financial institutions are seeking a greater voice in shaping the future of crypto regulation, particularly as lawmakers and regulators work to draft laws that will govern this rapidly evolving sector.
At the same time, the lack of consensus on fundamental issues like stablecoin rewards highlights the challenges ahead. The engagement of banks, crypto firms and policymakers under one roof underscores the complex balancing act between fostering innovation and safeguarding financial stability — a balance that will define the next chapter of digital asset regulation in the United States. As negotiations continue, the industry will be watching closely to see whether collaboration can give way to actionable policy outcomes that move beyond rhetoric and toward meaningful regulatory clarity