Anti-DeFi Ad Campaign Targets CLARITY Act as Senate Crypto Debate Heats Up
A national advertising campaign opposing decentralized finance provisions in the CLARITY Act has emerged as Senate deliberations on crypto regulation intensify. The ads, airing on Fox News, urge viewers to pressure lawmakers against DeFi language in the pending market structure bill.
Banking industry advocates warn the legislation could enable stablecoin issuers to offer deposit-like products, potentially threatening traditional banking systems. Treasury Department projections suggest up to $6.6 trillion in bank deposits could migrate to stablecoins if adoption accelerates.
Crypto industry leaders are mounting defenses as legislative timelines stretch. Political calculations and amendment debates create uncertainty, with some analysts predicting final passage might not occur before 2027.