Regulation· ★★★★· bearish· September 15, 16:02

CLARITY Act faces mounting opposition from Warren, 18 state AGs and banks

—Warren's team considers the new ethics rules ineffective for independent enforcement
—18 state attorneys general led by Letitia James urged Congress to reject the bill
—8 banking associations criticize the stablecoin 'circuit breaker' and the risk of deposit outflows
—Susan Collins is undecided: the 600+ page bill was called a 'moving target'

Why it matters: The multi-front opposition lowers the odds of the CLARITY Act passing, delaying regulatory clarity for the entire U.S. crypto market.

Source: Digital Today