The White House's negotiations on stablecoin yields are still ongoing, with the banking industry denying that March 1st is the final "deadline"

According to Eleanor Terrett, citing anonymous sources, negotiations between the White House, the banking sector, and the crypto industry regarding stablecoin yield arrangements are still progressing.

Sources say that Patrick Witt, a White House official responsible for stablecoin policy, promised to reach an agreement on stablecoin yields before March 1st and described that date as the "life or death line" for the negotiations. However, several banking lobbying groups hold different expectations.

Currently, representatives from the American Bankers Association, the Independent Community Bankers of America, and the Bank Policy Institute have explicitly countered the narrative that the negotiations have fallen into "nihilism."

Banking representatives pointed out that both sides are still exchanging opinions on the bill text repeatedly, and the negotiation process has not broken down. March 1st is not an insurmountable "deadline." This statement has also effectively eased market concerns about the negotiations potentially collapsing at any moment.

In fact, the issue of stablecoin yields has long been one of the most contentious points in crypto legislation. The banking industry firmly opposes paying interest on stablecoins, believing it would directly impact traditional deposit services; meanwhile, the crypto industry views it as a key right for fair competition.

Currently, the White House is trying to find a balance amid the tug-of-war between the two sides. The continued progress of negotiations also sends a positive signal, indicating that there is still room for compromise, rather than the dead-end "ultimatum" that external rumors suggest.

Overall, the anonymous source's release of the "ultimatum" appears to be an attempt to create a sense of urgency to pressure the banking industry into compromise; meanwhile, the banking groups' urgent clarification aims to regain control of the narrative and avoid bearing the public opinion pressure of "hindering legislation."

In summary, this public opinion battle over the March 1st "life or death line" is essentially a psychological negotiation tactic. Both sides do have disagreements, but neither wants to be responsible for a breakdown in talks. Moreover, stablecoin regulation has never been a sprint but rather a marathon of利益拆解.

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