Ryan

What they're trying to do, this is sort of beyond the scope of the Clarity Act, what they're trying to do is they're trying to do a take back from the genius bill.

Yeah, so they got outflanked by kind of the crypto proponents, the crypto lobby.

And as part of the genius bill, they thought they closed the loophole for sharing interest to users.

And indeed, issuers of stablecoins cannot do that.

But exchanges or other protocols can provide that interest.

The net effect is most users get that interest.

Now they're trying to shut that down.

And they're not making a very convincing case, I think, for American citizens and why this is good for American citizens.

But of course, they have the ear and campaign of many of the lawmakers who are weighing in on this.

And as of now, am I correct, they are kind of blocking all stablecoin yield.

That's at least the current version of the markup we have.

Is that right?

David, do you see this?

So on the DeFi, that's the stablecoin thing.

And on the DeFi that you mentioned, there are commercials being run like this one, investors for transparency, primetime ads on Fox News, urging viewers to oppose DeFi provisions.

Now, how many Fox News viewers you think are like, oh, DeFi, I hate that.

Yes, tell your senator.

Look at this.

Tell your senator, pass crypto legislation without DeFi provisions.

It's actually wild.