Crypto use has become a routine part of digital finance, with stablecoins increasingly used for payments, savings, and transfers. Behind this growth, however, U.S. lawmakers, banks, and crypto firms remain divided over how digital dollars should be regulated.
That disagreement has stalled one of the most significant crypto bills in years, leaving uncertainty around the future of stablecoins, market structure, and oversight as negotiations continue.
David Adubiina
Stablecoins Sit at the Center of the Dispute
At the heart of the delay is stablecoins, digital tokens designed to track the US dollar. Banks worry that stablecoins, especially those that offer rewards, could pull money away from savings and checking accounts. Crypto firms argue that these tokens make payments cheaper, faster, and more accessible.
According to a new Bloomberg report, crypto companies are now offering new compromises in an effort to keep the bill alive after talks at the White House failed to produce an agreement earlier this week.
The Bloomberg Report stated, “Fresh proposals include giving community banks a bigger role in the stablecoin system — such as holding reserves or issuing tokens through partnerships,” highlighting the efforts to address bank concerns.
But the biggest tension remains whether crypto platforms should be allowed to offer rewards on stablecoins. Banks see those rewards as direct competition. Crypto firms see them as innovation. That gap has proven hard to close.
In recent days, some crypto firms have shifted tactics. Instead of pushing back against banks, they are trying to pull them in. People familiar with the talks told Bloomberg that new ideas include requiring stablecoin issuers to keep part of their reserves at community banks or allowing smaller banks to issue their own stablecoins through partnerships. The goal is simple. Reduce fear of lost deposits while giving banks a new way to earn revenue in a digital system that is already growing.
Not every crypto company supports these ideas, and no deal has been reached. But the proposals show that parts of the industry are willing to give ground rather than let the bill collapse entirely.
What Happens Next for Crypto in the US
For now, the bill remains stuck. The White House meeting earlier this week ended without resolution, and the stablecoin issue is still unresolved. But the latest proposals suggest crypto firms understand the risk of doing nothing. Without clear rules, uncertainty grows; investment slows, and innovation drifts elsewhere.
Whether these concessions are enough to win over banks is still unclear. What’s clear is that crypto is no longer asking to be ignored. It is asking to be regulated, but on terms that allow it to survive. The next few weeks will likely decide whether the US moves closer to clear crypto rules or stays trapped in the same fight while the rest of the world moves ahead.
Jemi Motesho
