Coinbase CEO Brian Armstrong announced the company's withdrawal of support for the Digital Asset Market Clarity Act, leading to tensions with the White House. The dispute centers on stablecoin yield regulations that banking groups argue could destabilize traditional financial systems, threatening significant revenue for Coinbase.

The White House will meet with banking and cryptocurrency executives to discuss the stalled Clarity Act, which aims to set federal rules for digital assets. Key issues include how the bill addresses interest payments on stablecoins, a point of contention between the two industries.