President Donald Trump openly criticized the banking sector on his Truth Social platform for trying to sabotage key bills for the crypto industry. The growing conflict over the Clarity Act and the GENIUS Act shows that traditional finance is afraid of growing competition from stablecoins. The outcome of this clash may shape the future of the US digital asset market for years to come.
Presidential intervention in defense of the crypto market and the Clarity Act
In a recent post on the Truth Social platform, published late in the evening on March 3, 2026, Donald Trump took a firm stance in the ongoing dispute between the banking sector and the cryptocurrency industry.
The US president accused banks of actively trying to undermine the GENIUS Act, which was signed last year and constitutes the foundation for stablecoin issuers, despite recording record profits.
Donald Trump’s post on Truth Social
Trump also called for the immediate passage of the Clarity Act, or the Digital Market Structure Act, arguing that Americans should earn more with their own resources.
His words send a clear message, warning that the lack of appropriate regulations may push innovation to China and other emerging countries.
Fear of capital flight and Wall Street lobbying against crypto regulations
The conflict between Washington and Wall Street is purely financial.
The Clarity Act, which previously gained bipartisan support in the House of Representatives and divides supervisory powers between the SEC and CFTC, is stalled in the Senate.
Traditional financial institutions are seeking to amend the existing GENIUS Act to limit regulations that allow them to generate profits from stablecoins.
Bank representatives fear that attractive interest rates on digital dollars may lead to a mass outflow of deposits from traditional accounts.
Jamie Dimon, CEO of JPMorgan Chase, explicitly called for a level playing field, suggesting that profits from stablecoins should be subject to the same stringent regulations as standard banking products.
Behind-the-scenes conversations and regulatory forecasts for the blockchain sector. Will the Clarity Act finally pass?
The president’s decisive reaction does not seem accidental, taking into account the latest reports from behind the scenes of power. Shortly before making the high-profile tweet, Donald Trump met privately with Coinbase CEO Brian Armstrong.
The latter, in turn, on the X platform, owned by Elon Musk, has supported Trump’s actions in recent days, at the same time believing in his mission in the area of cryptocurrencies.
Armstrong also took a dig at the previous administration, which in his opinion limited the potential of the blockchain sector.
Brian Armstrong’s entry on Platform X
It is worth recalling that at the beginning of 2026, the Coinbase exchange withdrew its support for the Senate Clarity Act project when lawmakers tried to push through changes favoring the banking sector.
The White House has been trying to mediate between the conflicting parties for a month, but the negotiations did not bring a breakthrough.
Despite this, market data indicate optimism among investors, and the Polymarket platform currently estimates a 72% chance that the Clarity Act will finally be signed in 2026.
However, prolonged regulatory uncertainty may still affect the volatility of quotations of the most important digital assets, which we have been seeing on the charts for several weeks, if not months.
