Clarity Act Update 9am EST The third stablecoin yield meeting at the White House is happening today at 9:00 A.M. ET. This is a continuation of closed-door discussions between representatives from the crypto industry and traditional banking sectors. This third session involves a small, select group: Crypto side: Paul Grewal, Stuart Alderoty, Miles Jennings (a16z crypto), and other trade reps. Banking side: Representatives from major banks and industry groups. The core issue revolves around stablecoin yields (interest or rewards paid on stablecoins like USDC or USDT). Banks argue that allowing yields on stablecoins (especially via exchanges or platforms) creates unfair competition for traditional bank deposits, potentially draining liquidity from the banking system. Crypto firms view yields as a key feature for innovation, user incentives, and on-chain returns essentially, "yield is the feature, not a bug."These talks are tied to breaking an impasse that's stalling broader U.S. crypto market structure legislation, particularly the bipartisan CLARITY Act, which aims to clarify regulatory oversight for digital assets. Previous meetings (early February) were described as "productive" but ended without resolution, with the White House setting a March 1, 2026 deadline for the sides to reach a compromise so Congress can move forward.