Trump hopes to sign crypto market structure bill ‘very soon’ amid growing tensions over stablecoin rewards

U.S. President Donald Trump stated during the World Economic Forum in Davos that he hopes to sign the cryptocurrency market structure legislation into law "very soon." This push comes as key stakeholders are divided, notably over provisions concerning stablecoin rewards. Tensions escalated after Coinbase withdrew support and the Senate Banking Committee postponed a vote on the bill. A major point of contention involves the GENIUS stablecoin law, which prohibits issuers from paying direct interest to holders, but allows third parties like Coinbase to offer rewards. Banking groups argue this draws deposits away from community banks, while crypto advocates see it as an attempt to stifle competition. Administration officials, including Patrick Witt and David Sacks, are urging for a compromise to pass the bill while the momentum is favorable. The Senate Agriculture Committee is scheduled to hold a hearing on its version of the bill on January 27.

(Source：The Block)