Anti-DeFi Ads Warn of $6.6T Bank Risk as Senators Weigh CLARITY Act Vote
A battle over US crypto regulation has started playing out on cable TV, not just in the halls of Congress on Capitol Hill.
Quick overview
- An anti-DeFi group has launched an ad campaign urging the public to pressure senators for crypto regulation that limits DeFi's rights.
- The ads, reportedly aired on Fox News, warn that DeFi could weaken traditional banks and promote unregulated stablecoins.
- The crypto community has reacted strongly, criticizing the ads for oversimplifying DeFi and ignoring its benefits.
- As the Senate Banking Committee prepares to review the CLARITY Act, the outcome remains uncertain amid political tensions.
A battle over US crypto regulation has started playing out on cable TV, not just in the halls of Congress on Capitol Hill. Reports and online screenshots are revealing that an anti-DeFi group has run ads urging the public to pile pressure on senators to get crypto market structure legislation passed – but only if it doesn’t let DeFi go unchecked.
The ads – which supposedly aired on Fox News – tell viewers to call up their local elected officials and demand changes to the proposed CLARITY Act. It’s a move that shows just how much the relationship between traditional banking and cryptocurrency is starting to fray, with lawmakers caught in the middle trying to decide how far DeFi should be allowed to operate outside the conventional financial system.
Ads Target DeFi in CLARITY Act Debate
Eleanor Terrett of Crypto in America shared screenshots on X showing these ads from a group called Investors For Transparency. One message basically says “Tell Your Senator – Pass a Bill for Crypto Without Letting DeFi Get the Same Rights” and then gives them a hotline number.
Another message warns, “Don’t let DeFi stall progress,” which sounds just like points regular old banking lobbyists have been making. People who don’t like DeFi are worried that granting DeFi the same rights as others could mean stablecoin issuers start selling interest-bearing stablecoins that are like bank savings accounts, but don’t have to follow the same strict rules.
That’s not some tiny worry. When the US Treasury looked at this in April, they thought that if stablecoins really take off, $6.6 trillion in bank deposits could leave the banking system. That number has become a key talking point for all the groups pushing to keep DeFi from getting a free pass.
🚨 SHADOW GROUP LAUNCHES LAST-MINUTE ANTI-DEFI TV ADS AHEAD OF SENATE STRUCTURE BILL VOTE
An anti-DeFi group is running prime-time TV ads urging Americans to pressure senators to strip DeFi from an upcoming crypto market structure bill.
The group, calling itself Investors… https://t.co/DVcMx4XTlJ pic.twitter.com/ZcEGFsWsbu
— CryptosRus (@CryptosR_Us) January 10, 2026
The key points that the ads are pushing include:
- DeFi might actually weaken the banks’ customer base.
- Stablecoins are pretty much unregulated savings accounts
- Lawmakers should focus on crypto that’s in centralised banks
Crypto Industry Pushback Intensifies
Not surprisingly, the ad campaign has sparked a huge reaction from within the crypto community. Uniswap Labs CEO Hayden Adams basically called it misleading and Ironic, because the group pushing for transparency isn’t even willing to say who’s funding them or who’s behind them.
Industry folks are saying that the ads totally oversimplify DeFi and ignore all the good that it does – like making financial services available to more people, cutting down the cost of transactions, and helping to level the playing field. They’re also warning that if DeFi is left out of the market structure legislation, much of the crypto system will be stuck in limbo.
This all happens at a pretty bad time. The Senate Banking Committee is actually set to put the CLARITY Act through its paces on Jan 15th. That’s just a few weeks from now.
Legislative Timeline Remains Uncertain
All that said, even with momentum on its side, passing the law is by no means a done deal. Some Democrats are actually pushing for stricter rules about who can get involved in this sort of thing – and that could slow things way down. With the US midterm elections looming in 2026, this really is a bit of a powder keg.
By the time you read this, the whole thing might have been pushed back to 2027- or even 2029 if they don’t sort out the details properly. But Senate Banking Committee Chair Tim Scott is saying otherwise, insisting they’ll get this done faster and give the American people something they can get excited about.
As these ads keep running and the politicians go about trying to figure this out, it’s clear that this is becoming one of the biggest battles of 2024 – and it’s getting very intense, very quickly.
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