Trump: Will not let banks hinder the advancement of cryptocurrency market structure legislation

At a private event for TRUMP Meme coin holders held at Mar-a-Lago in Florida, U.S. President Trump stated that the White House would not allow banking lobbyists to undermine the advancement of the cryptocurrency market structure bill, the Digital Asset Market Clarity Act. He claimed that the cryptocurrency industry has entered the mainstream, stating, "The U.S. is the leader in the cryptocurrency space," and that banks should not obstruct the establishment of a stablecoin and cryptocurrency regulatory framework.

This event was dubbed "the world's most exclusive conference," with hundreds of TRUMP coin holders invited to attend. Guests included Tether CEO Paolo Ardoino, Ark Invest founder Cathie Wood, Anchorage Digital CEO Nathan McCauley, and boxing champion Mike Tyson. Previously, the U.S. banking industry had expressed concerns that the stablecoin reward mechanism could impact traditional deposit business, which had temporarily slowed down the legislative process related to it.