Midterm results leave the CLARITY Act racing the clock

The CLARITY Act is dying, and it’s not just because of Democrats. Key Republicans like Josh Hawley and Susan Collins joined the opposition to protect traditional banks from losing deposits to stablecoins. With Elizabeth Warren now poised to chair the Banking Committee, the industry’s legislative window is slamming shut. Did the GOP just betray crypto to save the banking lobby? Or are stablecoins a legitimate threat to your local credit union? What’s your take?
This summary was generated by AI