President Trump Meets With Coinbase’s Brian Armstrong, Then Blasts Banks Over Stalled Crypto Legislation

President Donald Trump held a private meeting with Coinbase CEO Brian Armstrong shortly before publicly criticizing banks for hindering progress on a cryptocurrency market structure bill. Trump posted on Truth Social that banks must "make a good deal with the Crypto Industry" regarding digital asset legislation, specifically mentioning that the GENIUS Act was being undermined by banks, echoing Coinbase's stance. The core dispute centers on whether crypto exchanges should be allowed to offer yield programs on stablecoins, a restriction banks seek to impose due to concerns over drawing deposits from traditional accounts. Coinbase and other digital asset firms oppose these restrictions, arguing they stifle innovation. The Senate Banking Committee markup for the legislation remains stalled, despite White House mediation efforts. Trump urged swift action, stating Americans should earn more on their money and that the CLARITY Act is vital for U.S. leadership in crypto.

(Source：Bitcoin Magazine)