President Trump on Tuesday criticized major banks for what he described as efforts to stall crypto legislation, calling for swift passage of market structure reforms and the Clarity Act.
GENIUS Act Under Pressure
Trump claimed in a post on Truth Social that banks are attempting to undermine the GENIUS Act and delay broader crypto regulation, which he views as critical to keeping innovation within the United States rather than pushing it overseas to countries like China.
Framing the legislation as part of a broader strategy, Trump described the GENIUS Act as the first milestone toward making the U.S. the “crypto capital of the world,” with the Clarity Act representing the next essential phase for securing the industry domestically.
He also criticized banks for posting record profits while …