US President Donald Trump recently met with a top crypto executive, reportedly urging support for a key crypto market structure bill. Just hours after the meeting, Trump took to social media, criticizing banks for holding the bill "hostage" and pushing for its swift passage. "The US needs to get Market Structure done, ASAP," he posted.
The bill's fate hangs in the balance, with banks and crypto firms at odds. Banks want to ban stablecoin yields, fearing it could draw deposits away from traditional accounts, while crypto advocates argue this unfairly targets their industry. Trump's stance aligns with the crypto sector, emphasizing the need for a "powerful Crypto Agenda".
The meeting and Trump's comments come as the Senate Banking Committee had postponed a markup on the legislation. Crypto-related stocks jumped following the news, reflecting the market's sensitivity to regulatory developments. With the crypto industry eager for clarity, all eyes are on Congress to pass the bill.
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