Trump Supports the "GENIUS Act" and the "Clarity Act": Criticizes Banks for Obstruction and Calls for Accelerating the U.S. to Become the "Global Crypto Capital"

President Trump recently publicly expressed strong support for legislation related to the crypto industry and criticized traditional banking systems for trying to weaken the influence of the GENIUS Act. He pointed out that the U.S. must quickly complete legislation on the crypto market structure to ensure the industry stays in the country for development, or else opportunities may flow to China and other nations.

Trump emphasized that the GENIUS Act is just the first step, and pushing forward with the Clarity Act to complete legislation will be key to consolidating America’s position in the crypto industry. He called for banks and the crypto industry to cooperate rather than hinder innovation, ensuring this rapidly growing sector ultimately benefits the American people.

Trump Criticizes Banks for Blocking the GENIUS Act

On social media, Trump stated that the GENIUS Act is facing threats and undermining from the banking industry, which he finds “unacceptable.” He believes that while U.S. financial institutions are generating historically high profits, they should not attempt to obstruct the development of the crypto industry.

Trump pointed out that banks should not try to weaken this legislation or use the Clarity Act as a bargaining chip. He believes banks and the crypto industry should collaborate to create a market environment that benefits both the U.S. economy and its citizens, rather than suppressing emerging technologies through policy resistance.

Accelerating Market Structure Legislation to Keep Crypto Industry in the U.S.

In his statement, Trump urged the U.S. to complete legislation related to the crypto market structure as soon as possible. He believes that without a clear and friendly regulatory environment, the crypto industry might shift to other countries for development.

He specifically warned that if the Clarity Act does not progress smoothly, America’s competitive advantage in the global crypto industry could be weakened, even allowing countries like China to take the lead. For this fast-growing sector, regulatory clarity and policy support will be crucial factors for companies when choosing where to establish themselves.

GENIUS Act and Clarity Act Seen as Key Policies

Trump emphasized that the GENIUS Act is an important first step toward making the U.S. a “global crypto hub.” The bill aims to establish a clearer policy framework for digital assets and promote innovation and investment to stay within the United States.

Building on this, he believes the Clarity Act will be the next critical milestone. By further refining the regulatory framework, the U.S. has the opportunity to establish leadership in the global digital asset competition, while ensuring industry growth is not hindered by overregulation or financial institution monopolies.

Trump: Crypto Industry Should Create Value for Americans

In his post, Trump stated that the crypto industry is at a crucial moment on its path to success and should not let this opportunity slip away from the American people. He believes that with timely policies, the crypto sector could become a significant driver of the U.S. economy.

He finally called for banks and the crypto industry to build more constructive cooperation and support the advancement of relevant legislation to ensure this “large and promising industry” continues to develop in the U.S. Trump emphasized that when the industry is on the verge of real success, the U.S. should not let opportunities flow overseas.

What Are the GENIUS Act and Clarity Act? A Quick Overview of the Two Major Crypto Regulations

In his recent speech, Trump mentioned two key bills— the GENIUS Act and the Clarity Act— regarded as foundational to the U.S. crypto regulatory system. The GENIUS Act mainly focuses on establishing a basic regulatory framework for digital assets and stablecoins. It is seen as the first major step by the U.S. government to promote crypto regulation, aiming to enable financial institutions and blockchain companies to operate under clearer rules while fostering innovation and capital inflow.

The Clarity Act is viewed as a further step to improve market structure, primarily clarifying the jurisdiction of different regulatory agencies (such as securities and commodities regulators) over digital assets, addressing the industry’s long-standing “regulatory uncertainty.” If passed smoothly, it is widely believed that the law will help establish a clearer legal position for the U.S. crypto industry and attract more companies and capital to develop domestically.

This article, Trump Supports the GENIUS Act and Clarity Act: Criticizes Banks for Obstruction and Calls for Accelerated Efforts to Make the U.S. the “Global Crypto Capital,” first appeared on Chain News ABMedia.