EXCLUSIVE-White House set to meet with banks, crypto companies on legislation clash

By Hannah Lang

Jan 28 (Reuters) - The White House on Monday will meet with executives from the banking and cryptocurrency industries to discuss a path forward for landmark crypto legislation which has stalled due a clash between the two powerful sectors, said three people familiar with the matter.

The summit hosted by the White House's crypto council will include executives from several trade groups and will focus on how the bill treats interest and other rewards crypto firms can dish out on customer holdings of dollar-pegged tokens known as stablecoins, the people said.

The White House meeting could help the industries reach a compromise, and underscores how keen President Donald Trump's administration is to get the legislation across the line.

The White House did not immediately respond to a request for comment. The sources declined to be identified discussing private policy discussions.