In the discussion surrounding the U.S. CLARITY Act, a crypto industry executive has countered the Community Bankers Association chairman's view that 'any compromise would be harmful.' He pointed out that the real obstacle to innovation is not community banks, but large financial institutions and the lobbying power behind them.
"The real problem is the big banks," the executive stated. "Community banks, while serving local economies, are facing the dual challenges of technological upgrades and regulatory ambiguity, and stablecoins happen to offer practical solutions to these problems."
He believes that large banks, through financial maneuvering, have successfully misled community banks and crypto companies, making them believe they are opponents. "They are not enemies," he said. "They are natural allies."
He further criticized that big banks are trying to create opposition only to consolidate their monopoly, and ultimately, only executives like Jamie Dimon benefit from the bonus pool. "We cannot back down in the fight for liquidity that local economies depend on," he emphasized.
This debate has recently attracted attention from the political arena. Donald Trump publicly called for the bill to be passed as soon as possible: "The United States must complete market structure reform as soon as possible. Bank profits are hitting record highs, and we must not allow them to undermine our strong crypto agenda."
Community Banks and Crypto Industry Are Allies: A New Perspective on the CLARITY Act Controversy
Amid the CLARITY Act controversy, a crypto executive points out that community banks and the crypto industry are allies, accusing big banks of creating opposition to maintain their monopoly. Trump also called for accelerating legislation to promote the U.S. crypto agenda.