Crypto Firms and Banks Join Forces as Odds of Crypto Bill Passage Climb to 83%

▲ Cryptocurrency Regulation

At an emergency meeting on digital assets held at the White House, the banking sector and the cryptocurrency industry achieved dramatic progress by narrowing differences over key provisions of the market structure bill, raising the likelihood of its passage to over 80%.

According to cryptocurrency media outlet CoinGape on February 20 (local time), the White House convened a closed-door meeting to mediate conflicts between banks and crypto companies surrounding the U.S. cryptocurrency market structure bill (CLARITY). The session was the third held to resume discussions that had stalled over restrictions on stablecoin yields, with both sides seeking a compromise ahead of the March 1 deadline. Industry heavyweights including Coinbase and Ripple attended the meeting and engaged in intensive discussions.

Paul Grewal, Chief Legal Officer of Coinbase, described the talks as highly constructive and collaborative. Posting on X (formerly Twitter), Grewal said the two sides had made progress in narrowing their differences and hinted at further updates to come. While banks have argued for a ban on offering yields on digital dollars to protect deposits, the crypto industry has countered that yield generation is a key driver of innovation.

Ripple CEO Brad Garlinghouse also expressed strong confidence in the bill’s passage. He estimated an 80% to 90% probability that the U.S. cryptocurrency market structure bill will pass Congress on March 1 and receive the president’s final signature in April. The White House’s strong commitment to advancing the process has fueled such optimism.

Prediction markets have likewise responded positively to the outcome of the meeting, raising the odds of the bill’s passage. According to data from Polymarket, the probability that a Bitcoin (BTC) and cryptocurrency market structure bill will pass within this year surged to 83% following reports of the White House meeting. This reflects investors’ perception of regulatory clarity as a new bullish catalyst for the digital asset market.

Coinbase CEO Brian Armstrong also maintained an optimistic stance, saying a viable solution could be found. Although both sides aim to reach a balanced outcome that satisfies all parties, no final agreement has yet been announced. If the U.S. cryptocurrency market structure bill passes Congress, a clear federal regulatory framework is expected to be established, lowering barriers to entry for institutional investors.

The White House’s efforts to resolve regulatory uncertainty are viewed as an essential step toward positioning the United States as a global hub for digital assets. Whether the banking sector and the cryptocurrency industry can resolve remaining issues—such as stablecoin yield distribution—and finalize the bill by April is expected to be a decisive factor shaping the future direction of the digital asset market, including Bitcoin and XRP.

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