An anti-decentralized finance group is reportedly running advertisements on Fox News encouraging the public to pressure their Senators into passing crypto market structure legislation that excludes DeFi provisions perceived to be threatening to the banking industry.<\/p>\n
According<\/a> to two screenshots shared Friday on X by Crypto in America host Eleanor Terrett, the Investors For Transparency members wrote: “Tell Your Senator: Pass Crypto Legislation Without DeFi Provisions,\u201d sharing a hotline number to contact their local Senators.<\/p>\n \u201cDon\u2019t Let DeFi Stall Innovation,\u201d another snippet of the ad said, which appears to echo concerns from banking lobbyists over the CLARITY Act permitting stablecoin issuers to offer interest-bearing products that could be disguised as bank-like deposits and potentially draw trillions of dollars from the traditional banking system.<\/p>\n The US Treasury estimated in April that $6.6 trillion worth of traditional banking deposits could flow out of the banking system<\/a> if stablecoins see widespread adoption.<\/p>\n It comes as the Senate Banking Committee published<\/a> an official notice for its CLARITY Act markup<\/a> scheduled for this Thursday, Jan. 15, at 10:00am Eastern Time.<\/p>\n The banking lobby efforts have frustrated several members of the crypto community, including Uniswap Labs CEO Hayden Adams, who said<\/a> it was both \u201cironic and unsurprising\u201d that the Investors For Transparency organization is campaigning against DeFi while not revealing who they are and who they\u2019re funded by.<\/p>\n Several Democratic lawmakers are also reportedly pushing for conflict-of-interest safeguards<\/a> in the crypto market structure bill.<\/p>\n <\/template><\/p>\n There have also been fears that the 2026 US midterm elections<\/a> may slow the momentum<\/a> of the CLARITY Act bill, with TD Cowen\u2019s Washington Research Group reporting the bill may not pass Congress until 2027, with final implementation potentially pushed to 2029.\u00a0<\/p>\n Related: <\/strong><\/em>A16z raises $15B, says crypto a ‘key’ to America winning next 100 years<\/strong><\/em><\/a><\/p>\n Senate Banking Committee Chair Tim Scott, however, appears confident<\/a> that it can be passed much sooner and \u201cdeliver real results for the American people.\u201d<\/p>\n Magazine:<\/strong><\/em> Davinci Jeremie bought Bitcoin at $1\u2026 but $100K BTC doesn\u2019t excite him<\/strong><\/em><\/a><\/p>\n <\/template><\/div>\n Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph\u2019s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https:\/\/cointelegraph.com\/editorial-policy<\/a><\/p>\n<\/div>\n![](\"https:\/\/s3.cointelegraph.com\/uploads\/2026-01\/019ba65a-5874-7bb2-bdf9-b5f22bc4d34a.jpg\")
Crypto industry annoyed with anti-DeFi efforts<\/h2>\n
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Fears crypto market structure legislation may not pass this year\u00a0<\/h2>\n
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