Crypto lobbies launch a last-minute TV campaign against banks to pass the CLARITY Act

The crypto industry is launching a seven-figure national advertising campaign to rescue the CLARITY Act ahead of a crucial Senate vote next week.The Senate is scheduled to vote Sept. 15 on whether to invoke cloture on a motion to proceed to the Digital Asset Market Clarity Act, a procedural hurdle requiring 60 votes.The measure would establish federal rules for digital-asset markets and divide oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The vote would only open debate, leaving lawmakers to clear additional procedural steps before final passage.Yet with a week remaining, senators involved in the negotiations are reportedly signaling that the votes may not be there.Crypto turns up the pressure as the votes slip awayWith negotiations struggling to produce a breakthrough, crypto's political network is moving to make opposition to CLARITY more costly for lawmakers and the banking industry.The Cedar Innovation Foundation, a 501(c)(4) nonprofit linked to the Fairshake super PAC network, is launching a seven-figure cable advertising campaign across three spots aimed at building support for the bill. Two emphasize consu...