Trump says he wants crypto bill signed 'very soon' as Congress stalls

Beincrypto reports President Donald Trump told the World Economic Forum in Davos on Wednesday that he hopes to sign crypto market structure legislation “very soon,” but the bill remains gridlocked in Congress.

Key friction centers on stablecoin yield provisions: the GENIUS Act allows stablecoin holders to earn rewards, and banking lobbyists are pushing restrictions. Coinbase withdrew support, with CEO Brian Armstrong saying bank lobbying groups are “trying to ban their competition” and that he has “zero tolerance for that.” The Senate Banking Committee postponed its markup after the withdrawal and has shifted focus, leaving that portion of the bill now expected in late February or March. By contrast, the Agriculture Committee released the Digital Commodity Intermediaries Act text and plans a Jan. 27 markup.

The White House’s digital assets council criticized Coinbase, warning industry obstruction could be “fumbling the ball,” while lawmakers cautioned a delay could push crypto business overseas and extend regulatory paralysis by about two years. The Agriculture Committee markup is set to proceed, but a complete market-structure framework requires the Banking Committee bill to pass and be merged; the standoff over stablecoin yields remains the critical unresolved issue as markets and firms, including the NYSE, advance related projects.

Key Topics

Crypto, Donald Trump, Coinbase, Brian Armstrong, Genius Act, Stablecoin Yield