Trump urges passage of crypto market structure bill

President Donald Trump has urged the passage of the crypto market structure bill known as the CLARITY Act. In a post on Truth Social, Trump criticized banks for holding the bill hostage, stressing that it must be passed as soon as possible to prevent the U.S. from losing its crypto leadership to countries like China. He also pointed to the GENIUS Act, a stablecoin law that took effect last July, accusing the banking sector of exploiting a loophole—a general ban on paying interest on stablecoins—to stifle the crypto industry.