Last mentioned: 2d ago
Trump Issues Ultimatum
President Trump publicly attacks banks on Truth Social, accusing them of holding the Clarity Act hostage.
Negotiation Deadline Missed
The White House deadline for a compromise between banks and crypto firms passes without a deal.
Clarity Act Postponed
The Senate Banking Committee indefinitely delays the markup of the market structure bill due to banking lobby concerns.
GENIUS Act Signed
President Trump signs the first major U.S. stablecoin framework into law.
President Trump has issued a direct warning to the banking sector, accusing institutions of sabotaging the GENIUS Act and obstructing the Clarity Act. The conflict centers on a high-stakes dispute over whether crypto exchanges can offer yield on stablecoin deposits, a move banks fear will trigger significant deposit flight.