Trump Blasts Banks for Trying to Kill Stablecoin Law

President Trump is going after the banking industry. In a Truth Social post, he accused banks of "threatening and undermining" the GENIUS Act — the stablecoin legislation he signed into law last year.

The flashpoint? Banks have been pushing back against provisions that would allow stablecoin issuers to pay yield to holders. Traditional financial institutions see that as a direct threat to deposits — and they're not staying quiet about it.

Trump's public broadside signals he's not backing down from the crypto-friendly stance that shaped the legislation in the first place. The GENIUS Act was designed to create a regulatory framework for stablecoins, but the yield question has become its most contentious battleground.

Banks lobbying against a sitting president's signature legislation is bold. Trump making it personal on social media is predictable. The stablecoin war just escalated.