White House Clarifies Community Banks Not Excluded from Stablecoin Compensation Negotiations

White House Cryptocurrency Committee Chief Patrick Witte has refuted claims that community banks were excluded from negotiations over the stablecoin compensation provisions in the CLARITY Act. In a post on X, Witte stated: 'The American Bankers Association (ABA) and the Independent Community Bankers of America (ICBA) both attended relevant White House meetings, and individual member bank inquiries were made but no responses were received.' This addresses comments from CitizBank CEO Jill Castilla who noted that she and other community bank officials had not been invited to participate in the negotiations. Witte emphasized that the compromise on stablecoin compensation provisions was developed through discussions with Senators Tom Tillis and Angela Alsobrooks and community bank representatives.