Regulation· ★★★★· bearish· September 15, 16:00

Banks reject Bessent's CLARITY Act 'safeguard' ahead of vote

—Banks rejected Bessent's 'safeguard': it triggers only after deposit outflows and lasts 18 months
—18 state attorneys general oppose the bill, saying it would complicate the fight against crypto fraud
—Democrats found loopholes in the ethics rules: they would not stop Trump from earning another $1.4 billion from crypto
—Coin Center criticized the reduced BRCA developer protections, which lack criminal safeguards

Why it matters: A failed vote would delay U.S. crypto regulation and hit expectations for stablecoins and DeFi.