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Crypto legislation hits new roadblock amid bank opposition

Crypto legislation hits new roadblock amid bank opposition

WASHINGTON, D.C.: Talks over a landmark U.S. cryptocurrency bill have stalled again after banks rejected a compromise proposal backed by the White House, raising fresh doubts about whether the legislation can pass this year.

The setback triggered criticism from President Donald Trump, who accused lenders of trying to undermine the effort. Trump, who supported the crypto industry during his campaign and whose family has launched its own token, has made crypto reform a priority during his second administration.

“We are not going to allow them to undermine our powerful Crypto Agenda,” Trump wrote on February 3 on his Truth Social platform.

Crypto firms have long argued that operating under unclear regulations has slowed…

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