“The Genius Act is being threatened and undermined by the banks, and that is unacceptable — We are not going to allow it. The U.S. needs to get Market Structure done, ASAP. Americans should earn more money on their money.”
Attention has now shifted to the Digital Asset Market Clarity Act, which aims to define whether digital assets fall under the U.S. Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC). The measure passed the House in July but has stalled in the Senate during early 2026 amid industry disagreements, banking sector lobbying, and jurisdictional disputes between Senate committees.
Trump framed the push to pass the legislation as a pivotal step for strengthening the country’s digital asset sector, writing:
“This industry cannot be taken from the people of America when it is so close to becoming truly successful. Thank you for your attention to this matter!”
FAQ 🧭 Why is the Clarity Act important for crypto investors? It aims to establish clear market structure rules that could reduce regulatory uncertainty for digital asset companies and investors. What does the Genius Act regulate? The Genius Act sets the first nationwide framework for U.S. dollar-pegged stablecoins, requiring asset backing, audits, and licensing. Why are banks opposing parts of the crypto legislation? Some banks are pushing restrictions that would prevent stablecoin issuers from offering interest or rewards to token holders. How could these laws affect the U.S. crypto market? If passed and implemented fully, they could accelerate institutional adoption and strengthen the U.S. position in the global digital asset industry.
