Anti-DeFi group airs ad urging removal of provisions from US crypto bill

A U.S. group opposing decentralized finance has launched an ad campaign on Fox News calling for the removal of DeFi-related clauses from the crypto market structure bill (CLARITY Act). The group, named Investors For Transparency, is urging viewers to contact the U.S. Senate to pass the legislation without the DeFi provisions, sharing a hotline number in the advertisement. The ad's message states that DeFi should not be allowed to hinder innovation. According to Cointelegraph, the ad campaign reflects concerns from the banking sector that allowing stablecoin interest products could trigger a significant outflow of bank deposits. In response, Uniswap (UNI) founder Hayden Adams criticized the effort, stating that an unidentified group is attacking DeFi.