Future Integration: Banking and Crypto Industries Will Unite

Jakarta, Pintu News – Recent statements from David Sacks, the AI and Crypto Czar at the White House, suggest that the banking and crypto industries will soon merge into a single digital asset industry. This was revealed in an interview on CNBC’s Squawk Box which coincided with the World Economic Forum in Davos, Switzerland.

Merger of Two Major Industries

David Sacks shares the view that a merger between banks and crypto companies will happen as soon as the market structure bill gets approval from Congress. According to him, this will enable the creation of an integrated digital asset industry. Sacks emphasized that this is not just a possibility, but a necessity to maintain stability and innovation in the global financial system.

Currently, big banks are lobbying hard to preserve their profit margins and limit competition by blocking crypto companies from replicating their business models. They are attempting to include new language in the Clarity Act bill, which has been supported by the crypto industry for several months, to close any loopholes that may exist.

Also Read: Is Gen Z Investing Only in Crypto a Smart Decision or Not? Here’s What Analysts Say!

Controversy over the CLARITY Act Bill

The CLARITY Act bill has been a hot topic of debate as it proposes restrictions for stablecoin issuers to deliver yield. David Sacks is calling on policymakers, banks and crypto companies to find common ground so that the bill can be passed and sent to US President Donald Trump to be signed into law. Sacks acknowledged that this prolonged debate has stalled the legislation’s progress.

However, Sacks was not surprised by the challenges that this bill faced, similar to what happened to the GENIUS Act bill which also faced many obstacles before it finally became law. He reiterated that the crypto industry needs to take a broader and strategic view, emphasizing that the approval of the market structure bill is as important as the results that can be obtained.

Market Reaction and Implications

Coinbase, one of the largest crypto firms, recently announced that it would be discontinuing support for the CLARITY Act bill. Coinbase CEO, Brian Armstrong, stated via a post on X that the current version of the bill has too many problems, including its aim to stop stablecoins from offering yield while protecting banks from competition.

Banks have warned that if stablecoins are allowed to offer high interest rates, it could encourage many people to switch from low-interest savings accounts to the crypto sector, which would cause huge losses for banks. However, following the passage of the GENIUS Act bill in July 2025, token issuers are prohibited from providing stablecoin yields, but third-party companies like Coinbase are still legally allowed to offer rewards.

Conclusion

The merging of the banking and crypto industries into a single digital asset industry marks a new era in the global financial system. With the right bill and cooperation between all parties, this transition will not only strengthen innovation but also provide greater security for investors and users of financial services.

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Reference

• Cryptopolitan. Sacks says banks and crypto will merge. Accessed on January 23, 2026