"Banking and the stablecoin industry will eventually merge" — U.S. White House officials predict the prospects of bill integration

Source: TokenPost Original Title: “Banks and the Stablecoin Industry Will Ultimately Merge”… US White House Senior Official Predicts Legislation Integration Original Link: https://www.tokenpost.kr/news/blockchain/325309

Banks and the Crypto Industry Will Merge into a Unified Digital Asset Sector

“The banking and cryptocurrency industries will eventually merge into a single digital asset industry.” This outlook was expressed by David Sacks, Director of Digital Assets at the White House, during the Davos Forum, following the passage of the US Cryptocurrency Market Structure Bill (CLARITY Act).

Sacks, speaking to CNBC’s “Squawk Box” during the World Economic Forum (WEF) in Davos, Switzerland, shared his views on the current deadlock in the US Senate over the “Clarity Act” controversy and the future restructuring of the cryptocurrency industry. He specifically pointed out that the core reason for legislative delays is the dispute over whether stablecoin issuers should pay yields.

Core Dispute in Bill Negotiations: Yield Payments

According to Sacks, the “Clarity Act” is seen as a key bill for institutionalizing the cryptocurrency market, but there are disagreements between banks and the crypto industry over whether stablecoin issuers can pay interest, which has hindered compromise.

He stated: “To advance legislation, banks, crypto companies, and Congress all need to make certain concessions. Ultimately, this bill must pass Congress and be signed by President Trump to truly move toward a digital asset industry.”

Sacks also mentioned the “GENIUS Act,” passed in July 2025, which was finally legislated after multiple failures. He emphasized: “It seemed impossible at the time, but it was ultimately made into law. Banks now also have to acknowledge that the bill includes the concept of yields.”

“Will Merge into a Single Digital Asset Industry”

Sacks said that once the bill is passed, “there will be no reason for banks and the crypto industry to remain separate.” He pointed out: “Once banks start large-scale involvement in stablecoin business, they will naturally adopt yield payment functions. Ultimately, the current banking sector and the crypto industry will merge into a ‘digital asset industry.’”

Opposition from a Major Exchange… Congress Sparks New Disputes

Recently, debates around the bill have resurfaced. The CEO of a major exchange, Brian Armstrong, publicly announced on X (formerly Twitter) last week that he is withdrawing support for the “Clarity Act.” He criticized: “The current bill has too many issues, especially the removal of yield functions for stablecoins and provisions to protect banks from competition, which are unacceptable.”

Banks are most concerned that if stablecoins offer high yields, it could lead to significant withdrawals from traditional bank deposits. In fact, some analyses suggest that the funds flowing out of low-interest US deposits could reach trillions of dollars.

In an interview with CNBC, Armstrong said: “Given the current deadlock in the Senate, we have an opportunity to renegotiate with bank CEOs to find mutually beneficial solutions.”

Legalization Outlook Will Shape the Market’s Future

The US Market Structure Bill is regarded as the “steering wheel” for the global restructuring of the cryptocurrency industry, and its importance is self-evident. The market generally believes that once the “Clarity Act” is passed, traditional financial institutions will officially enter the crypto space and accelerate the transformation of payment settlement systems centered around stablecoins.

Whether stablecoin yield payments are permitted is not only a technical issue but also a convergence of legal, political, and industry interests. How future discussions will find a compromise point is worth watching.