Trump Urges Congress to Advance Clarity Act as Stablecoin Yield Dispute Divides Banks and Crypto Platforms

US President Donald Trump criticized banks in a Truth Social post on Tuesday evening, accusing them of attempting to undermine the Genius Act and delay the Digital Asset Market Clarity Act while urging Congress to advance the market structure bill. At issue is whether crypto platforms such as Coinbase can offer yields on stablecoin balances—a gap left by the Genius Act signed on July 18, 2025, which requires dollar-backed stablecoins to be fully reserved but bars issuers from paying interest; Coinbase currently offers around 3.5 percent on USDC versus less than 0.4 percent on typical US savings accounts and generated $355 million in stablecoin revenue in Q3 2025 and about $1.35 billion in 2025. The Bank Policy Institute has warned that interest-like stablecoin products could trigger up to $6.6 trillion in deposit outflows and $250 billion to $1.5 trillion in reduced lending, while a Senate Banking Committee draft released on January 12 would explicitly prohibit crypto firms from paying yields on stablecoin balances, prompting Coinbase CEO Brian Armstrong to withdraw support and delaying a committee vote. The debate is complicated by Trump's crypto exposure through World Liberty Financial's USD1 stablecoin, which has about $4.7 billion in market capitalization and helped generate over $800 million in crypto-related income for his family in the first half of 2025, while Polymarket data show a 72 percent chance the Clarity Act becomes law in 2026 as the Senate reconciles competing drafts on the stablecoin yield issue affecting potentially $6.6 trillion in bank deposits and a stablecoin market above $310 billion.