A group called Investors For Transparency is running ads on Fox News urging the public to pressure Senators to exclude DeFi provisions from the CLARITY Act bill. Concerns over stablecoins potentially drawing trillions from the traditional banking system were raised as the US Treasury estimated $6.6 trillion could flow out. The Senate Banking Committee is set to discuss the CLARITY Act on Jan. 15, amid fears of delays until 2027 or 2029 due to the 2026 midterm elections. Democratic lawmakers also seek conflict-of-interest safeguards in the bill. Senate Banking Committee Chair Tim Scott is confident the bill can pass sooner.

Read more at CoinTelegraph: Anti-DeFi Group Runs Ads Aimed At Stripping DeFi From Crypto Bill