🚨MADNESS: Sen. Cynthia Lummis says big banks are trying to kill the CLARITY Act—because crypto is getting too big to ignore.
Lummis says major banks are pushing hard against the bill because they can’t compete with crypto—and they know the balance of power is shifting.
“They can’t compete with crypto… They are fighting for their lives, and they are losing.”
For decades, banks dominated payments, transfers, lending, and access to capital. Now Bitcoin, stablecoins, and blockchain rails are changing how money moves—faster than legacy finance expected.
If the CLARITY Act delivers clearer rules in the U.S., it could accelerate adoption, institutional investment, and innovation across the industry.
And banks understand the real risk: when people can move money more freely, control starts to shift—and the old gatekeepers lose leverage.
This isn’t a quiet tug-of-war anymore. TradFi vs. crypto is now out in the open—and Washington is the battlefield.