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US Crypto Landscape Faces Challenges Amidst Industry Debates and Political Scrutiny

A recent series of meetings in the US addressing cryptocurrency regulation has concluded without significant results.

The third gathering, which took place at the White House, saw reduced attendance and aimed to engage stakeholders in developing a stablecoin framework.

Attendees included leaders from major crypto firms like Coinbase and Ripple, yet notable representatives from the banking sector were absent.

The White House proposed a compromise that suggested limiting interest payments on stablecoin assets while permitting rewards for specific crypto-related activities.

However, there is also a push for a stringent ban on interest payments on idle crypto balances, with substantial fines for non-compliance.

In a contrasting viewpoint, Binance founder Changpeng Zhao firmly stated that the crypto sector does not require government intervention or bailouts.

Zhao's remarks were in response to US Senator Elizabeth Warren’s call for restricting government support due to the inherent risks of cryptocurrencies.

Additionally, Zhao returned to the US to participate in a Trump-linked crypto summit, indicating his ongoing engagement with key industry figures.

Overall, these developments underline the ongoing tensions between regulatory efforts and the cryptocurrency industry’s push for autonomy.

As discussions continue, the future of US crypto policies remains uncertain, highlighting the need for clear regulatory frameworks.