US President Donald Trump on Tuesday sided with the crypto industry in its monthslong dispute with banks over stablecoin yield.

That row has threatened to derail negotiations over the Clarity Act, a bill that would create a long-sought regulatory framework for cryptocurrencies in the US.

“Americans should earn more money on their money,” Trump wrote on his social media platform, Truth Social.

“The Banks are hitting record profits, and we are not going to allow them to undermine our powerful crypto agenda that will end up going to China, and other countries if we don’t get the Clarity Act taken care of.”

In a bid to boost stablecoin adoption or win market share, some issuers have paid customers yield on their…