‘Clock is ticking’: crypto bill’s 2026 fate hinges on Trump and stablecoin yields

Industry experts have widely varying estimates (25% to 60%) for the passage of comprehensive digital asset legislation in 2026, with two major hurdles slowing progress: how to treat stablecoin yield and conflicts of interest involving President Donald Trump's crypto ventures. Banks are pushing for strict limits on stablecoin rewards, arguing they draw deposits away, while some in crypto resist these limitations, leading to daily industry meetings, including recent White House discussions. Furthermore, ethics concerns surrounding Trump's significant crypto holdings complicate the path, especially as Democrats scrutinize the SEC's enforcement strategy in light of these ties. The bill's immediate future rests with the Senate Banking Committee, awaiting a new draft text, as lawmakers face pressure before the midterm elections, with one source stating, "The clock is ticking."

(Source：The Block)