The White House is nearing a formal announcement on a U.S. Strategic Bitcoin Reserve, with Patrick Witt saying the administration has already cleared a key legal hurdle.
U.S. lawmakers and White House officials said that clear crypto rules will determine whether the U.S. leads financial innovation, with Sen. Cynthia Lummis warning that another hostile administration could mean “game over” for sensible regulation.
A White House economic analysis finds that banning stablecoin yield would provide negligible benefits to bank lending while costing consumers more in lost returns.
The White House is reportedly convening banking and crypto executives on February 2 to revive stalled U.S. crypto legislation, after Senate progress on market-structure rules collapsed earlier this month.