March 5 : Talks on landmark crypto legislation have hit a new impasse after banks said they could not back a compromise pushed by the White House, a development that cast doubt on whether the bill will pass this year and sparked criticism from President Donald Trump who accused lenders of trying to undermine it. 

Trump, who courted crypto cash on the campaign trail and whose family has profited from its own token, has prioritized crypto reform during his second administration. On Tuesday evening, he took to his Truth Social platform to call out the banking industry. “We are not going to allow them to undermine our powerful Crypto Agenda,” he posted.

Crypto companies have been operating in a regulatory gray area which executives say has…