US "Clarity Act" Two-Week Countdown, Banking Industry Gets Nervous

The next two weeks are a critical window for congressional voting on the US "Clarity Act."
This bill aims to clarify "who regulates crypto" — the SEC or the CFTC.
But the banking industry has come out against it, saying the current version has a regulatory loophole: it allows crypto companies to offer economic incentives without anti-money laundering safeguards.
Bipartisan lawmakers can't agree, and the time window is narrowing.
If it doesn't pass in these two weeks, the probability of passing later will drop significantly.
Interestingly, the banking industry is not opposed to "crypto regulation" but to "who regulates it."
What they want is for banks to regulate crypto, not the SEC.
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