Yesterdays meeting between crypto representatives and banks ended in no deal BUT there was progress made according to chief legal officer at Ripple, Stuart Alderoty.

Frankly, I'm surprised we got this far so maybe I'm wrong and we will get this passed. List of attendees:
Crypto / Industry side:
Paul Grewal (Chief Legal Officer, Coinbase)
Miles Jennings (a16z / Andreessen Horowitz crypto team)
Stuart Alderoty (Chief Legal Officer, Ripple)
Josh Rosner (Paxos)
Summer Mersinger (Blockchain Association)
Jenny Kim (CEO, Crypto Council for Innovation)
Banking side (the bad guys, jk):
Representatives from Goldman Sachs, JPMorgan, Bank of America, Wells Fargo, Citi, PNC Bank, and U.S. Bank
Trade groups including Bank Policy Institute (BPI), American Bankers Association (ABA), and Independent Community Bankers of America (ICBA)
The White House urged both sides to reach compromise language by March 1, 2026, with further discussions expected in the coming days/weeks.
The core impasse remained banks' push for a near-total prohibition on stablecoin yields (stricter than the bill's draft), citing risks to deposits, versus crypto's argument for broader allowances to drive adoption and competitiveness. Banks are scared and I feel like this is blockbuster negotiating with netflix.