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Trump Faults Banks for Blocking GENIUS Act in Senate Amid Stablecoin Yield Clash
On 2026-03-05, according to The Shib Daily, U.S. President Donald Trump accused major banks of obstructing the Senate's crypto market structure bill by opposing stablecoin yield payments under the GENIUS Act. The law would permit regulated stablecoin issuance while banning issuers from paying yield directly, leaving third-party platforms to provide returns, and the FDIC has introduced a proposed rule to guide banks in applying to run stablecoin subsidiaries. Trump urged banks not to weaken the GENIUS Act or hold up the House's CLARITY Act, arguing cooperation with the crypto industry better serves U.S. interests.