Trump Says Banks Won't Be Allowed to Stall Crypto Market Structure Bill

President Donald Trump said the White House will not let banking lobby groups derail the Digital Asset Market Clarity Act, arguing that crypto has moved into the mainstream and that the U.S. "is the leader in crypto." He said banks should not stand in the way of establishing regulatory frameworks for stablecoins and cryptocurrencies. Trump made the remarks at a private event for holders of the TRUMP meme coin at Mar-a-Lago in Florida, billed as "the most exclusive gathering in the world." The event drew hundreds of large TRUMP token holders, including Tether CEO Paolo Ardoino, Ark Invest founder Cathie Wood, Anchorage Digital CEO Nathan McCauley and boxing legend Mike Tyson. U.S. banks have previously warned that stablecoin reward mechanisms could undercut traditional deposit businesses, a concern that has temporarily slowed the legislation's momentum, CoinDesk reported.