Trump urges the approval of the U.S. Clarity Act, criticizes banks for 'undermining' GENIUS

U.S. President Donald Trump stated in a post on Truth Social that the banking industry is trying to undermine the stablecoin bill he signed into law last year

What you need to know:

U.S. President Donald Trump attacked banks in a post on Truth Social, claiming they were holding the legislation on market structure "hostage" due to their opposition to stablecoin yield payments. Trump urged the swift approval of the bill, noting that it was important for the United States to remain at the forefront of cryptocurrency legislation. Negotiations continue between the White House and representatives of the crypto and banking industries regarding the language of the bill.