Trump urges passage of U.S. Clarity Act, attacks banks for 'undercutting' GENIUS

Former U.S. President Donald Trump posted on Truth Social urging Congress to pass the crypto market structure legislation, referred to as The Clarity Act, without interference, stating Americans should earn more on their money. He accused banks of trying to undermine the stablecoin bill he signed last year, warning them against holding the Clarity Act "hostage." The market structure bill has stalled since January, primarily due to a dispute between the banking and crypto sectors over whether third parties can offer yield on stablecoin deposits. Banks fear deposit flight, while crypto firms argue yield generation is permissible under the GENIUS Act. The White House has been mediating negotiations, but a deal has not yet emerged as the legislative calendar shrinks.

(Source：CoinDesk)