Banking Lobby Moves to Derail CLARITY Act as Stablecoin Battle Turns Political!

Coinbase CEO Brian Armstrong has gone public with a sharp accusation: major banks are quietly working to sabotage the CLARITY Act, the stablecoin legislation backed by the Trump administration, in order to protect their own profit margins. Armstrong framed the lobbying effort as Wall Street prioritising revenue over everyday Americans' access to open financial infrastructure.

The CLARITY Act has become a flashpoint in the broader crypto policy war in Washington, with the banking industry increasingly mobilising against stablecoin frameworks that could erode their dominance in payments and deposits. The public pressure campaign from Coinbase signals that crypto advocates are no longer content to fight this battle behind closed doors.

For markets, the outcome carries real weight — a stalled or weakened stablecoin bill would delay the regulatory clarity that institutional players have…