Trump Urges Banks to Cooperate with Crypto Firms on Market Structure Legislation

US President Donald Trump has called on major banks to work with crypto firms to advance market structure legislation, specifically the CLARITY Act. The act aims to provide clarity for companies and investors in the digital asset industry by establishing clear rules and regulations.

The bill has been stalled due to disagreements over stablecoin interest payments. Crypto advocates argue that allowing exchanges to pay competitive yields on stablecoin balances is essential for legitimate competition, while banking lobby argues it would destabilize traditional savings accounts.