TechFlame News - The White House convened its third closed-door meeting on Thursday, inviting representatives from the cryptocurrency industry and banking groups to discuss stablecoin reward mechanisms. The meeting lasted several hours and was described by attendees as a "constructive dialogue," though no final compromise was reached.

Ji Hun Kim, CEO of the Crypto Council for Innovation, stated that the meeting built upon previous discussions to advance the framework, with the goal of protecting consumers while enhancing U.S. competitiveness. Paul Grewal, Chief Legal Officer of Coinbase, also described the discussions as "collaborative and constructive," hinting that further negotiations will continue.

The reward mechanism for stablecoin holders is a key point of contention in the current crypto market structure bill. Sources familiar with the matter revealed that the White House proposed some principled approaches, allowing companies to offer rewards based on specific activities or account balances, but banks remain cautious. It is yet to be determined whether another round of meetings will be held.

Attending institutions included Ripple, the Blockchain Association, the Crypto Council for Innovation, and several major banking associations.