The global cryptocurrency market continues to evolve at the intersection of finance, politics, and technology. Recent developments in the United States illustrate how regulatory battles are shaping the future of digital assets. The administration of President Donald Trump is pressing forward with new rules for the crypto industry, lawmakers are considering a temporary ban on a government-issued digital dollar, and major payment companies are accelerating the global adoption of stablecoins. Info link: minfin.com.ua
Trump Presses Senate to Pass the CLARITY Act
U.S. President Donald Trump has sharply criticized the banking sector, accusing financial institutions of attempting to slow the development of the cryptocurrency industry. In a post on Truth Social, he called on the Senate to immediately approve the CLARITY Act, a bill designed to establish a clear regulatory framework for the crypto market and strengthen the United States’ position as a global crypto hub.
According to Trump, banks are using political influence to delay the implementation of reforms that could reshape the digital asset sector. The conflict largely revolves around the GENIUS Act, legislation regulating stablecoins that Trump signed in July 2025. Although the law formally entered into force, its practical implementation has been stalled.
Banks are pushing for restrictions on reward payments to stablecoin holders, arguing that such incentives could threaten their profit margins. Trump, however, claims that the financial sector is effectively holding progressive legislation “hostage” in an attempt to secure more favorable regulatory conditions.
The president warned that delays in regulatory reform could weaken the United States’ leadership in the rapidly expanding crypto economy.
The CLARITY Act was approved by the House of Representatives in 2025 but has remained stuck in the Senate due to strong lobbying from traditional financial institutions. Negotiations at the White House involving representatives of the crypto industry and banking sector produced partial compromises, yet a final decision has not been reached.
Analysts at JPMorgan Chase suggest that under pressure from the Trump administration, the bill could be passed by mid-2026. The full implementation of the GENIUS Act rules is also expected no earlier than July.
Senate Proposes Ban on Digital Dollar Until 2030
At the same time, lawmakers in Washington are debating the future of government-issued digital currencies. The U.S. Senate Committee on Banking, Housing, and Urban Affairs has introduced legislation that would effectively prohibit the creation of a central bank digital currency (CBDC) in the United States.
The bill defines a CBDC as a digital form of the U.S. dollar that would represent a direct liability of the Federal Reserve and be accessible to the general public. Under the proposed law, the Federal Reserve and regional Federal Reserve Banks would be prohibited from:
- directly issuing or launching a central bank digital currency;
- creating digital assets that replicate the core functions of a CBDC;
- implementing such initiatives indirectly through commercial banks or financial intermediaries.
In practice, this would pause the development of a digital dollar in its traditional form.
However, the legislation still leaves room for innovation within the private sector. The restrictions would not apply to digital currencies that meet several criteria: open-source architecture, decentralized operation, and strong transaction privacy comparable to physical cash.
The proposed restrictions would be temporary. According to the draft law, they would expire on December 31, 2030, giving the private crypto market several years to develop alternative digital payment solutions without direct competition from a state-issued digital currency.
Visa and Stripe Expand Stablecoin Card Programs Worldwide
While regulators debate policy, major financial companies are actively integrating cryptocurrency into their payment systems. Visa, together with the crypto platform Bridge—recently acquired by Stripe—has announced a major expansion of its stablecoin-backed card initiative.
According to Fortune, the project will expand far beyond its initial 18 markets and eventually reach more than 100 countries across Europe, Asia, and Africa.
The goal is to make cryptocurrency spending as simple as traditional card payments. With the new cards, users will be able to spend funds directly from their stablecoin wallets at any merchant that accepts Visa.
The system operates through a three-layer structure:
- Bridge provides the technical infrastructure for stablecoin transactions;
- third-party companies, including crypto wallets, can issue their own branded debit cards;
- Visa acts as the global network processing the transactions.
Kai Sheffield, head of crypto at Visa, emphasized that payment cards are essential for the everyday use of stablecoins.
The initiative highlights a major trend shaping the financial landscape in 2026. Rather than competing directly with traditional banking systems, digital assets are increasingly being integrated into existing financial infrastructure.
As policymakers attempt to define regulatory boundaries, banks work to protect their market position, and technology companies expand real-world use cases for digital assets, the global financial system is gradually moving toward a hybrid model where cryptocurrency and traditional finance coexist within the same payment ecosystem.