Speaking at a private TRUMP meme coin holder event in Mar-a-Lago, Florida, Trump said banking lobby groups would not be allowed to derail the Digital Asset Market Clarity Act as stablecoin adoption raises deposit concerns.
Trump said the White House would not allow banking lobby groups to derail the Digital Asset Market Clarity Act, a crypto market structure bill aimed at setting clearer rules for digital assets. He made the remarks at a private event for holders of the TRUMP meme coin at Mar-a-Lago in Florida. The report added that U.S. banks had previously slowed stablecoin legislation because of concerns about potential effects on deposits, and industry estimates said broader stablecoin adoption could shift up to $6.6 trillion in bank deposits, underscoring the scale of tension between the banking sector and crypto policy efforts.