President Donald Trump has made his position clear, warning major US banks that his administration will not tolerate interference with his “Crypto Agenda.” In a fiery post on Social Truth published on Tuesday, she unequivocally called for the Transparency Act. This stalled piece of legislation could significantly change the way digital assets are regulated in the United States.
While banks argue that they are protecting the financial system, the administration is creating a “People to Banks” narrative that sees the legislation as essential to keeping crypto innovation and capital across America’s borders. The stakes are high: the outcome of this legislative battle will determine not only who controls your assets, but whether you can earn interest on them.
SHEIKHAN: Trump Says ‘Huge to Pass CLARITY ACT’ – Warns Banks ‘MUST Hold CLARITY ACT Hostage’
@realDonaldTrump publicly calls on Congress to move IMMEDIATELY on crypto market structure legislation.
“US needs to complete market structure sooner.”
… pic.twitter.com/TuIkbrnfaA
— Diana (@InvestWithD) March 3, 2026
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What changes is the clarity of reality
At the heart of this battle is a massive power shift known as the Act of Enlightenment. Currently, the battle between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) is keeping investors guessing about the rules. The Clarity Act proposes to strip much of the SEC’s power and give the CFTC “exclusive jurisdiction.”
By classifying most cryptocurrencies as “digital goods” instead of securities, the law aims to end the era of “regulation by enforcement.”
It’s not just a label change. It provides a legal avenue for the CFTC’s exclusive powers over the spot markets. This means that exchanges finally know which rules to follow without the constant fear of surprise lawsuits, creating a well-defined pipeline for digital asset innovation.
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Why Wall Street Is Struggling With It (And Why It’s Surprising)
If clear rules are good for business, why do banks fight it? The answer lies in competition. A major point of contention in the Transparency Act involves banking regulation of stablecoins (crypto tokens pegged to the dollar).
Banks are afraid of regulations that allow crypto exchanges to give income (interest) to users with stablecoins. If you can earn 5% of your digital dollars on an exchange, why would you keep your money in a traditional bank account paying 0.01%? Banks call this “deposit flight” and they lobby hard to stop it to protect their balance sheets.
We have seen this increase in tension for months. While traditional finance leaders, such as the CEO of Goldman Sachs, have called for clear crypto regulations, they want a system that keeps banks at the center of the financial world. They want to participate in the crypto economy, but they don’t want the crypto economy to replace them.
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Bitcoin price rises as Trump pushes for transparency law
Bitcoin is trading near $71,500 after breaking back from the $60,000-$62,000 support zone, which coincides with the previous consolidation range from mid-2024. The breakout comes after a sharp rejection from the period highs of $120,000-$125,000, confirming a prolonged correction phase.
Structurally, BTC is trying to recover the $68,700 level and has now turned into support as a close resistance. A hold above this area opens the way to $80,000 and possibly $90,000. However, failure to sustain momentum could push rice back to $59,800. The broader trend remains up for the multi-year period, but the medium-term structure depends on the protection of the $60,000 floor.
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The Trump Factor: The Politics Behind the Transparency Act
The call for an Act of Enlightenment is not just politics; is personal. Trump’s crypto agenda is tied to the administration’s broader goals: and, arguably, personal interests.
With the Trump family involved in projects like World Liberty Financial (WLFI), the administration has skin in the game. A more crypto-friendly regulatory environment overseen by the CFTC will directly benefit DeFi projects. This adaptation becomes clearer with personnel changes. We recently saw a Chainlink executive join the SEC’s crypto task force, revealing that the administration is routinely replacing “anti-crypto” bureaucrats with industry natives.
We are waiting to see if the Senate Banking Committee will bow to the President’s pressure. Banks have deep pockets for lobbying, but the White House has the bully’s pulpit and the authority to overhaul the system.
Hour hand. As the Treasury pushes for a solution by spring, the Clarity Act is the final piece of the puzzle. We’re keeping a close eye on the Senate signup – if the “savings flight” concerns are addressed, expect this bill to move quickly.
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Main roads
- The Clarity Act proposes to shift crypto oversight from the SEC to the CFTC, treating most tokens as securities rather than securities.
- Banks are fighting the bill because they fear users will move money from low-income bank accounts to high-income fixed income accounts (deposit flight).
- For retail investors, the Act may mean lower fees and a longer list of signs, but potentially less disclosure than the SEC.
The post Trump vs. Banks: Is the LIGHT Act a Game Changer? appeared first on 99Bitcoins.
