U.S. President Trump posted a series of warnings on Truth Social, stating that if Bank of America continues to obstruct the advancement of the GENIUS Act (Stablecoin Bill) and the CLARITY Act (Digital Asset Market Structure Bill), innovation and capital in the cryptocurrency industry may flow to other countries.
He accused the banking system of perpetuating financial monopolies over the long term and called on Congress to expedite relevant legislation. Senator Cynthia Lummis later publicly expressed her support, emphasizing that the United States must maintain its global leadership in the digital asset space. Eric Trump also joined the discussion, criticizing traditional banks for offering near-zero yields to customers while charging exorbitant fees, alongside displaying excessive panic over the reward mechanisms of crypto platforms. Several executives from the cryptocurrency industry reposted the related comments, viewing them as a significant turning point in the trajectory of U.S. crypto regulation.
The tension between banking monopolies and cryptocurrency innovation once again highlights the sluggishness of the U.S. regulatory system. If legislative progress continues to stall, some talent and capital may flow to more crypto-friendly jurisdictions. Overall, the discussion reflects a core issue: how can cryptocurrencies maintain their innovative momentum while achieving institutional integration with the traditional financial system?
Editor/joryn