Trump Urges Progress on Clarity Act as DeepSnitch AI Raises $1.84M

US President Donald Trump has called out banks for stalling the Clarity Act, a new legislation aimed at regulating stablecoins. In his statement, Trump urged swift passage of the Act, noting that it remains in the best interest of the American people.

The Clarity Act would regulate stablecoins but ban issuers from directly offering yield to holders. However, crypto exchanges and third-party platforms can still provide yield, creating a loophole that banks oppose.

Despite Trump's renewed dedication toward cryptocurrencies, major coins like Bitcoin and Solana have refused to budge, with BTC sliding to $67K and SOL pulling back to $85.