President Donald Trump has criticised big banks over a proposed legislation, the CLARITY Act, which aims to clarify the jurisdictions of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over crypto assets. However, the bill is stalled over bonuses crypto holders may receive to compensate for the fact that crypto is considered digital cash and cannot collect interest. Banks are withholding approval from the bill due to concerns that crypto firms are trying to reverse engineer interest by providing rewards of perhaps 4-5% that could drive people to pull their money out of bank accounts that provide relatively modest yields. The American Bankers Association has supported market structure regulations, stating that regulations should exist but must not undermine financial innovation without undermining bank deposits that support local lending and economic activity.