Anti-DeFi Group Runs Ads Aimed At Stripping DeFi From Crypto Bill
An anti-DeFi group is running ads urging the public to pressure Senators to remove DeFi provisions from the CLARITY Act.Summary
The group Investors For Transparency is running advertisements, reportedly on Fox News, encouraging the public to contact their Senators to pass the CLARITY Act crypto market structure legislation while excluding decentralized finance (DeFi) provisions. These ads warn against DeFi stalling innovation and echo banking lobby concerns that stablecoin issuers offering interest-bearing products could draw trillions from the traditional banking system, a risk the US Treasury estimated could affect $6.6 trillion in deposits. The campaign comes as the Senate Banking Committee scheduled a markup for the CLARITY Act. Crypto industry figures, like Uniswap Labs CEO Hayden Adams, have criticized the group for campaigning against DeFi without disclosing its funding sources, while fears persist that legislative momentum could slow due to the 2026 midterm elections.
(Source：Cointelegraph)