Liberal Forum

Blackvegetable » 4 minutes ago » wrote: ↑

4 minutes ago

FOR THE LAST FEW WEEKS AND MONTHS, it’s been one problem after another for the CLARITY Act’s proponents. A loophole allowing stablecoin issuers to offer deposit-like rewards to account holders touched off an aggressive lobbying campaign from community banks and agriculture groups worried about the threat to deposit bases that could affect local lending. There were law enforcement groups pushing back against exemptions from the Bank Secrecy Act for decentralized finance, known as DeFi in the crypto world, that would make it harder for them to prosecute financial crimes. Tribal leaders worried about challenges to their sovereignty from the Commodity Futures Trading Commission. And on and on. But in the end, the death knell for the bill was the crypto industry’s association with Donald Trump and his corruption in office.

https://prospect.org/2026/09/17/crypto- ... %2F17%2F26