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Trump and Eric push banks to support crypto legislation, warning delays help China.
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.
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.
The Senate has delayed action on the Clarity Act, which aims to clarify digital asset regulations, despite House approval and White House mediation efforts.
Trump warned that inaction could allow countries like China to gain an advantage, urging a compromise that ties rewards to transactions rather than balances.
Meanwhile, crypto stocks saw modest declines.
Trump y Eric empujan a los bancos a apoyar la legislación criptográfica, advirtiendo que los retrasos ayudan a China.