SAEDNEWS: Donald Trump published a controversial statement accusing major U.S. financial institutions of obstructing efforts to pass legislation regulating the cryptocurrency sector.
According to the Science and Technology Service of Saed News, Donald Trump believes that efforts by banking lobbies to oppose the “Genius Act” and the “Digital Asset Transparency Act” are aimed solely at protecting the traditional interests of these institutions. From Trump’s perspective, this move represents a serious threat to the advancement of cryptocurrency innovation in the United States.
Trump stated on the platform Truth Social that banks have pressured the Senate to block the approval of regulations related to stablecoins and the broader digital asset market framework. He claims that these banking efforts are intended to prevent stablecoin holders from earning interest and to safeguard the substantial revenues generated by the current banking system. His remarks quickly gained significant attention on the social media platform X (Twitter).
Trump warned that if the current legislative stalemate continues, developments in the crypto industry could shift toward countries such as China. He emphasized that the United States must rapidly establish a stable regulatory infrastructure for the digital asset market in order to claim the title of the world’s “crypto capital.”
On the other hand, American banks argue that the emergence of interest-bearing stablecoins could draw liquidity away from traditional bank deposits and potentially threaten financial stability. This concern has become a central point of contention in ongoing debates over cryptocurrency policy.
