Investing.com -- Circle Internet (NYSE:CRCL) stock surged 6% on Wednesday afternoon after Reuters reported that the White House will meet with banking and cryptocurrency industry executives to discuss stalled crypto legislation.
The meeting, scheduled for Monday, will focus on resolving conflicts between the banking and crypto sectors, particularly regarding the ability of crypto companies to pay interest and rewards on stablecoin holdings. The White House’s crypto council is hosting the summit with various trade groups in attendance, according to sources familiar with the matter.
The planned meeting highlights the Trump administration’s commitment to advancing cryptocurrency legislation. The White House did not immediately respond to requests for comment on the matter.
Circle Internet, which issues the USDC stablecoin, also benefited from an upgrade by Mizuho earlier in the day, further boosting investor sentiment.
Meanwhile, Coinbase (NASDAQ:COIN) shares edged higher following the Reuters report but remained down 0.3% for the session.
Stablecoins, which are cryptocurrencies pegged to traditional currencies like the U.S. dollar, have become an increasingly important focus for regulators and lawmakers as their usage in the financial system grows.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.





















