#CLARITYActAdvances

US President Donald J. Trump has accused American banks of undermining the GENIUS and CLARITY Acts. Trump stated that the traditional banking sector is hindering the cryptocurrency agenda, vowing to secure US leadership in the global crypto market.
In a post on his Truth Social account, President Trump emphasized that banks, despite achieving record profits, are threatening crypto innovation. He specifically targeted the banking lobby, which he said was trying to prevent Americans from earning more from their money through stablecoins, particularly through the GENIUS Act he signed last year.
The GENIUS Act is considered a historic law establishing the federal regulatory framework for dollar-backed payment stablecoins. Trump has repeatedly stated that this law will make the US the undisputed leader in digital assets. However, ongoing disagreements over stablecoin issuers or platforms paying interest (yield/reward) to users, coupled with intense lobbying by banks, have led to the CLARITY Act (Digital Asset Market Clarity Act) being stalled in the Senate.
The CLARITY Act aims to clarify the overall structure of the crypto market, define the boundaries of authority between the SEC and the CFTC, and bring comprehensive regulation to digital assets. The Trump administration aims to complete the passage of this law by mid-2026 and sees it as a cornerstone of its vision to make the US the "crypto capital of the world."
In a tweet, Trump stated, "Banks are making record profits, and we will not allow them to undermine our strong crypto agenda. We must get the CLARITY Act done quickly, or this leadership will shift to China and other countries." The President argued that Americans should earn more from their money, implying that banks fear stablecoin competition.
Figures from the crypto industry, such as Coinbase CEO Brian Armstrong, have similarly accused banks of weakening Trump's pro-crypto agenda. In closed-door meetings at the White House, banks requested regulations prohibiting the payment of interest on stablecoin balances, which the crypto side has characterized as an attempt to stifle competition.
Trump's tough stance increased pressure on Congress to break the deadlock in crypto regulations, while also reaffirming the U.S.'s determination to maintain its global competitiveness in the digital asset space. White House officials say that if the CLARITY Act is passed in the near future, trillions of dollars of institutional capital could flow into the crypto market.