Inside the meeting: White House favors some stablecoin rewards, tells banks it's time to move

Sources familiar with the talks on stablecoin yields say the White House urged bankers to get on board with a deal that lets the market structure bill advance.

What to know:

The White House negotiators at the latest meeting urged bankers to allow for limited stablecoin rewards that won't threaten their deposits business, according to sources familiar with the talks.

The banking representatives at Thursday meeting were said to actively work on language to that end, though a final draft will still have to be circulated and weighed by the banks.