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Patrick Witt, executive director of the White House crypto council, rejected claims that community banks were left out of negotiations over the CLARITY bill’s stablecoin remuneration provisions. In a post on X, Witt said the American Bankers Association and the Independent Community Bankers of America both attended the relevant White House meetings, and individual member banks were also asked whether they wanted to participate, but no response was received.
The remarks came after Jill Castilla, CEO of Citizens Bank of Edmond, said neither Castilla nor other nearby community bank representatives had been asked by the administration to join the negotiations. Witt added the compromise proposal on the stablecoin remuneration provisions was worked out through consultations with Senators Thom Tillis and Angela Alsobrooks, as well as community banks.