U.S. lawmaker warns Clarity Act would weaken banks and the dollar

U.S. Democratic Rep. Stephen Lynch warned the Clarity Act would damage the banking system and weaken the dollar’s value, Crypto Briefing reported. Lynch argued the dollar’s reserve-currency status depends in part on the strength and credibility of the U.S. banking system, and that weakening banks by eroding their deposit base would undermine the dollar’s institutional foundation.