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Anti-DeFi Group Airs Fox News Ads Urging Senators to Pass Crypto Bill Without DeFi

Investors For Transparency aired television ads on Fox News on Jan. 10 urging the public to press their state senators to support crypto market structure legislation that excludes DeFi, BlockBeats reports. The messaging aligns with bank lobby concerns that the CLARITY Act could permit stablecoin issuers to offer interest-bearing products resembling deposits, and the U.S. Treasury estimated in April that as much as $6.6 trillion could leave the traditional banking system if stablecoins are widely adopted. The U.S. Senate Banking Committee announced a Thursday (Jan. 15) 10 a.m. ET session to review amendments to the CLARITY Act, while Uniswap Labs CEO Hayden Adams criticized the group for opposing DeFi without disclosing its members or funding.
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