2026年3月5日 美国东部时间上午5:06 / 路透社
作者：Hannah Lang
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比特币加密货币在2025年9月10日创建的这幅插图中的表现。路透社/Dado Ruvic/插图//文件照片 购买许可权，新标签页打开
- 特朗普称银行试图“破坏”该法案
- 银行称法案中的条款可能导致存款流失
- 加密货币公司希望法案在中期选举前尽快通过
3月5日（路透社） – 关于具有里程碑意义的加密货币立法的谈判陷入新的僵局，此前银行表示无法支持白宫推动的妥协方案。这一进展引发了人们对该法案能否在今年通过的质疑，并招致唐纳德·特朗普总统的批评，特朗普指责放贷机构试图破坏该法案。
特朗普在竞选活动中曾争取加密货币支持者，其家族也从自己的代币中获利。在他的第二届政府期间，加密货币改革一直是他的优先事项。周二晚间，他在Truth Social平台上抨击银行业。“我们不会允许他们破坏我们强大的加密货币议程，”他发文称。
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加密货币公司一直处于监管灰色地带，高管们表示这阻碍了他们的业务发展。该法案的支持者称，《明晰法案》旨在制定明确的监管规则，以促进加密货币的采用。
该法案在1月份陷入停滞，因为银行反对一项允许稳定币发行人和加密货币公司提供生息产品和其他奖励的条款，这些奖励可能会吸引银行存款，从而使银行更难获得贷款资金。
Coinbase（COIN.O）等加密货币巨头表示，他们必须能够提供奖励以吸引客户，否则将构成反竞争行为。与此同时，渣打银行估计，到2028年底，稳定币可能会从美国银行抽走约5000亿美元存款。
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据四位要求匿名讨论私下谈判的人士透露，白宫上月介入促成了一项协议。该妥协方案允许在某些情况下（如点对点支付）提供稳定币奖励，但不允许对闲置资金提供奖励。
知情人士称，加密货币公司已接受这一妥协方案，但银行表示无法支持。一位白宫高级官员表示，银行仍希望严格限制可发放奖励的活动。一位银行业消息人士称，放贷机构认为，妥协方案允许的活动仍可能引发存款流失。
一位银行业消息人士表示，一些参议员支持银行的立场，而行业认为，有了他们的支持，就能争取到更好的交易。最终掌握法案文本控制权的参议院银行委员会发言人未予置评。
美国银行家协会在一份声明中表示，放贷机构提出了建设性意见，以推动法案通过，同时不危及存款安全。“如果政策制定者不能妥善处理此事，对经济增长和金融稳定的风险是实实在在的。”
消息人士和分析师称，僵局加深了人们对该法案能否在今年成为法律的怀疑。该法案还必须克服参议员在道德和非法金融条款方面的分歧，而且在夏季议员们离开华盛顿开始中期选举竞选活动之前，参议院的日程时间有限。
如果民主党在11月在美国国会获得席位，通过加密货币法案的可能性将进一步缩小，因为民主党议员在调整联邦规则以适应加密货币方面存在更大分歧。
“数字主权联盟”（Digital Sovereignty Alliance）执行董事Adrian Wall表示，该联盟倡导支持加密货币的政策。“如果该法案没有在7月前通过并提交总统签署，我认为大家普遍认为，由于中期选举，窗口期已经关闭。”
“这将是一个巨大的挫折，我们很难克服。”
“达成可行协议的路径”
多年来，加密货币公司一直游说推动立法，明确加密货币代币在法律上是被视为证券、商品还是其他类别。2024年，该行业花费超过1.19亿美元支持亲加密货币的候选人，希望推进《明晰法案》和另一项为更广泛的稳定币采用铺平道路的法案（该法案已于去年成为法律）。
该法律禁止稳定币发行方支付利息，但银行表示，这一规定造成了一个漏洞，允许加密货币交易所和其他中介机构提供奖励，因此他们希望《明晰法案》能消除这一漏洞。
消息人士称，除美国银行家协会外，Coinbase和Ripple的高管，以及包括区块链协会在内的加密货币行业贸易团体也参与了谈判。
区块链协会首席执行官Summer Mersinger在一份声明中表示：“达成可行协议的路径比一个月前更加清晰。”
Ripple未置评，但该公司公开赞扬了白宫为达成协议所做的努力。
前方另有挑战
为通过该法案，参议院至少需要获得七名民主党议员的支持。一些民主党人希望法案禁止民选官员从加密货币投资中获利。这一条款针对的是特朗普家族的世界自由金融公司，分析师推测特朗普不太可能签署这一条款。其他议员则呼吁法案包含更严格的反洗钱规定。
一旦这些问题得到解决，参议院银行委员会的草案必须与参议院农业委员会的草案进行协调，最终版本还必须与包括住房政策改革在内的其他法案竞争参议院的审议时间，而住房政策改革也是特朗普的另一优先事项。
Stifel首席华盛顿策略师Brian Gardner在周二的一份报告中写道，伊朗战争使得今年通过加密货币法案变得更加困难。
“日程安排正成为该法案的敌人，”他补充道。
由Michelle Price编辑；由David Gregorio编辑
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Crypto bill hits new impasse, raising doubts over its future
March 5, 2026 5:06 AM UTC / Reuters
By Hannah Lang
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Representation of bitcoin cryptocurrency in this illustration created on September 10, 2025. REUTERS/Dado Ruvic/Illustration//File Photo Purchase Licensing Rights, opens new tab
- Trump says banks trying to ‘undermine’ the bill
- Banks say provision in bill could cause deposit flight
- Crypto firms want law passed quickly, before midterm elections
March 5 (Reuters) – Talks on landmark crypto legislation have hit a new impasse after banks said they could not back a compromise pushed by the White House, a development that cast doubt on whether the bill will pass this year and sparked criticism from President Donald Trump who accused lenders of trying to undermine it.
Trump, who courted crypto cash on the campaign trail and whose family has profited from its own token, has prioritized crypto reform during his second administration. On Tuesday evening, he took to his Truth Social platform to call out the banking industry. “We are not going to allow them to undermine our powerful Crypto Agenda,” he posted.
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Crypto companies have been operating in a regulatory gray area which executives say has stymied their businesses. The Clarity Act bill aims to create clear regulations that should help promote cryptocurrency adoption, say its supporters.
The bill stalled in January because banks opposed a provision allowing stablecoin issuers and crypto firms to offer yield-bearing products and other rewards that could lure away bank deposits, making it harder for them to fund lending.
Crypto giants such as Coinbase (COIN.O), opens new tab say they must be able to offer rewards to recruit customers, and barring them would be anticompetitive. The bank Standard Chartered has estimated, meanwhile, that stablecoins could pull around $500 billion in deposits out of U.S. banks by the end of 2028.
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The White House last month stepped in to broker a deal, Reuters reported. Its compromise would allow stablecoin rewards in some circumstances, such as peer-to-peer payments, but not on idle holdings, said four people who asked for anonymity to discuss the private talks.
Crypto companies have come around to that compromise, but banks have said they cannot support it, said two of the people. Banks still want to severely limit activities for which rewards can be issued, said a senior White House official. A banking industry source said lenders believe the activities allowed under the compromise could still trigger deposit flight.
Some senators back the banks’ position and the industry believes that with their support it can get a better deal, the banking source said. A spokesman for the Senate Banking Committee, which ultimately holds the pen on the text, did not provide comment.
In a statement, the American Bankers Association said lenders had offered constructive ideas to advance the bill without imperiling deposits. “The risks to economic growth and financial stability are real if policymakers don’t get this right.”
The deadlock has fed doubts about whether the bill will make it into law this year, said the sources and analysts. The bill also must overcome disagreements among senators over ethics and illicit finance provisions, and Senate floor time is limited before lawmakers leave Washington in the summer to start campaigning for the mid-term elections.
Chances for passing a crypto bill would shrink further if Democrats gain seats in the U.S. Congress in November, since Democratic lawmakers are more divided on overhauling federal rules to accommodate cryptocurrencies.
“If this doesn’t get passed and put in front of the President’s desk, I’d say by July, I think everyone feels that, generally, that window will have been closed because of the mid-terms,” said Adrian Wall, managing director of the Digital Sovereignty Alliance, which advocates for pro-crypto policies.
“It will be a tremendous setback that will be very difficult for us to overcome.”
‘PATH TO A WORKABLE AGREEMENT’
For years, crypto companies have campaigned for legislation establishing when crypto tokens are legally considered securities, commodities or otherwise. The industry spent more than $119 million backing pro-crypto candidates in 2024, hoping to advance the Clarity Act and a separate bill paving the way for wider stablecoin adoption, which became law last year.
That law banned stablecoin issuers from paying interest, but banks say it created a loophole that allowed crypto exchanges and other intermediaries to offer rewards, and they want the Clarity Act to eliminate that.
In addition to the ABA, executives from Coinbase and Ripple, and trade groups from both industries including crypto group the Blockchain Association have been involved in the talks, the sources said.
In a statement, Summer Mersinger, CEO of the Blockchain Association, said “the path to a workable agreement is clearer than it was a month ago.”
Ripple did not provide comment, but it has publicly cheered the White House’s efforts to get a deal.
FURTHER CHALLENGES AHEAD
To pass, the bill needs support in the Senate from at least seven Democrats. Some Democrats want the bill to ban elected officials from profiting from crypto ventures. That provision is aimed at the Trump family’s World Liberty Financial, and Trump is unlikely to sign it into law, analysts speculate. Other lawmakers have called for the bill to include tighter anti-money laundering rules.
Once those issues are resolved, the Senate Banking draft must be reconciled with a Senate Agriculture Committee draft, and the final version must then compete for floor time with other bills including housing policy reform, another Trump priority.
The war in Iran is making it even harder to pass the crypto bill this year, Brian Gardner, chief Washington strategist at Stifel, wrote in a Tuesday note.
“The calendar is becoming the enemy of this bill,” he added.
Editing by Michelle Price; Editing by David Gregorio
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