Trump says he hopes to sign sweeping crypto legislation “very soon”

U.S. President Donald Trump said he hopes to sign comprehensive cryptocurrency legislation into law “very soon,” even as divisions persist among key stakeholders over several core provisions.
Speaking Wednesday at the World Economic Forum in Davos, Switzerland, Trump reiterated his view that the United States is the “crypto capital of the world,” noting that Congress is working intensively on market structure legislation covering crypto and bitcoin.
Momentum to pass the bill in the Senate has increased following a turbulent week, during which Coinbase withdrew its support and the Senate Banking Committee postponed a scheduled hearing at the last minute. One of the most contentious issues centers on stablecoin rewards, pitting banking groups against the crypto industry.
Banking associations have criticized the GENIUS stablecoin law passed over the summer, arguing that while it prohibits issuers from paying direct interest to stablecoin holders, it still allows third-party platforms such as Coinbase to offer rewards. Banks warn this could draw deposits away from community lenders, while crypto firms accuse banks of trying to stifle competition.
White House officials and industry leaders have urged swift passage of the bill to avoid losing momentum under the current pro-crypto administration. Ripple CEO Brad Garlinghouse called for approval, saying that while no legislation is perfect, a clear regulatory framework is needed to allow innovation to flourish.
White House AI and Crypto Czar David Sacks also emphasized the need for compromise, saying he supports reaching a solution that would allow market structure legislation to reach the president’s desk.
The Senate Agriculture Committee is scheduled to hold a hearing on Jan. 27 to amend and vote on its version of the crypto bill, with legislative text expected to be released this week. The Senate Banking Committee has not yet rescheduled its hearing.#GateTradFi1gGoldGiveaway