Catenaa, Monday, March 09, 2026- President Donald Trump on Tuesday urged Congress to advance digital-asset legislation, accusing major banks of attempting to undermine the administration’s crypto agenda as negotiations over market rules stall.
In a post on Truth Social, Trump called for swift passage of the CLARITY Act, legislation designed to define oversight of digital assets, and defended the GENIUS Act, which created a federal framework for payment stablecoins last year.
He warned that delays risk pushing innovation overseas and weakening US leadership in the sector.
The dispute has intensified after Jamie Dimon, chief executive of JPMorgan Chase, said companies offering rewards on stablecoin balances should operate under banking regulations.
Dimon argued that unequal oversight could threaten financial stability and create an uneven playing field between banks and crypto firms.
The broader CLARITY Act would clarify whether digital assets fall under the Securities and Exchange Commission or the Commodity Futures Trading Commission, an issue that has complicated enforcement.
Progress slowed after Coinbase withdrew support over amendments tied to stablecoin reward programs.
Meanwhile, the Office of the Comptroller of the Currency has proposed rules to implement the GENIUS Act, outlining how regulated entities may issue payment stablecoins.
