Trump claims U.S. banks are blocking crypto reforms as Clarity Act talks hit stalemate

On Tuesday, President Donald Trump argued that U.S. banks are undermining key crypto legislation by stalling the Clarity Act, following the earlier passage of the GENIUS Act on stablecoins. He warned that disputes over whether stablecoins can offer yield are delaying broader market structure reforms and could drive digital asset activity to China and other jurisdictions. The Clarity Act remains stuck in the Senate as lawmakers, banks and the crypto industry clash over stablecoin rules and their impact on traditional banking.