Trump Urges Swift Passage of Crypto Market Structure Bill Amid Stablecoin Debate

U.S. President Donald Trump is pressing lawmakers to fast-track crypto market structure legislation, warning that banks are attempting to weaken the recently enacted GENIUS Act, a landmark stablecoin law he signed last year. In a Truth Social post on Tuesday, Trump emphasized the urgency of passing the Clarity Act, arguing that regulatory certainty is critical to keeping the cryptocurrency industry in the United States.

“The U.S. needs to get Market Structure done, ASAP. Americans should earn more money on their money,” Trump wrote, adding that banks posting record profits should not be allowed to undermine what he described as a “powerful Crypto Agenda.” He cautioned that delays could push crypto innovation to China and other global competitors if Congress fails to act quickly.

The crypto market structure bill has stalled since the Senate Banking Committee postponed a markup session in January. Lawmakers were expected to debate amendments, but negotiations remain ongoing. A central sticking point is whether third-party platforms such as Coinbase can offer yield on stablecoin deposits. Traditional banks warn that allowing stablecoin yield could trigger deposit flight from the banking system, while crypto companies argue that earning yield was permitted under the GENIUS Act and is essential for financial innovation.

The White House has hosted discussions between banking leaders and crypto industry representatives to resolve disputes over stablecoin regulation and yield offerings. Draft legislative language is reportedly circulating, though no final agreement has been reached. While a tentative end-of-February deadline passed without a deal, lawmakers still have limited time before the summer recess and the intensifying 2026 election cycle.

Meanwhile, the Office of the Comptroller of the Currency recently proposed guidance requiring clearer contracts between stablecoin issuers and third-party partners, stopping short of banning yield payouts. Trump-linked World Liberty Financial, which issues the USD1 stablecoin, has also sought a trust charter from the OCC, underscoring the growing intersection of politics, banking, and digital assets.