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flag Trump and Eric push banks to support crypto legislation, warning U.S. risks if China leads in digital assets.

flag President Trump and his son Eric intensified pressure on major banks over stalled cryptocurrency legislation, accusing financial institutions of resisting innovation and undermining U.S. leadership in digital assets. flag The dispute centers on whether stablecoin platforms can offer yield on deposits, a move banks oppose due to fears of deposit flight, while crypto advocates argue it's essential for competitiveness. flag The Senate has delayed action on the Clarity Act, which aims to clarify digital asset regulations, despite House approval and White House mediation efforts. flag Trump warned that inaction could allow countries like China to gain an advantage, urging a compromise that ties rewards to transactions rather than balances. flag Meanwhile, crypto stocks saw modest declines.

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