Trump Criticizes US Banks Over Crypto Regulations

The US crypto regulation landscape is becoming increasingly contentious as tensions rise between the White House and Wall Street. At the center of the controversy is the Clarity Act, a proposed legislation aimed at bringing crypto assets into the mainstream market structure.

President Donald Trump has taken to social media to express his displeasure with major US banks, accusing them of trying to undermine laws meant to help Americans earn more on their money. He warned that delays on the Clarity Act could push the entire crypto industry towards China and other countries.

The genesis of the debate lies in the GENIUS Act, which passed in July 2025. The law set strict rules for stablecoins and banned them from paying interest directly. However, platforms like Coinbase found a workaround by offering users rewards sourced from Treasury yields, which banks call a loophole.