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Trump sides with crypto firms in trillion-dollar battle with banks over stablecoin yield
President Donald Trump has thrown his support behind crypto firms in their high-stakes battle with U.S. banks over whether they can offer interest-like returns on stablecoins. Trump, in a social media post late Tuesday, ratcheted up pressure on banks to relent on the stablecoin yield issue. That’s the key point of contention holding up passage in Congress of the Clarity Act, which is a companion bill to the Genius Act approved last year, setting up a framework for regulated stablecoins. “The Genius Act is being threatened and undermined by the Banks, and that is unacceptable,” Trump said in his post. “They ... (full story)
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From moneycheck.com | Mar 4, 2026
President Trump used his Truth Social platform on Tuesday to criticize the banking industry for obstructing cryptocurrency regulation. tweet He claimed banks are jeopardizing the GENIUS Act — the stablecoin legislation he enacted in July — while attempting to prevent passage of the CLARITY Act, a comprehensive crypto market structure bill stuck in the ...
