Anti-DeFi group runs ads urging public to pressure Senators on crypto bill: Report

A series of ads reportedly aired on Fox, urging the public to contact their senators to remove DeFi provisions from the crypto market structure bill.

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.

According 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,” sharing a hotline number to contact their local Senators.

“Don’t Let DeFi Stall Innovation,” 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.

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