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BTC Seven-digit advertising campaign aims to win support from the banking community
The Cedar Innovation Foundation, a 501(c)(4) nonprofit organization associated with the "Fair Shake" cryptocurrency super PACs network, is preparing to launch a million-dollar national cable television advertising campaign to consolidate support for the Digital Asset Market Clarification Act ahead of a key Senate vote.
This ad purchase covers major news channels such as CNBC, CNN, Fox News, Newsmax and MSNBC. The Cedar Innovation Foundation's advertising campaign includes three separate ad segments: two are positive publicity, emphasizing the support of well-known industry groups for cryptocurrency market structural reform; and the third is an attack ad targeting the banking industry, pointing directly to the opposition that has blocked the bill for months.
Small and medium-sized lenders in particular have long been lobbying lawmakers to tighten regulations on stablecoin yields, arguing that crypto platforms may use income-like incentives to move deposits out of the banking system.
The anti-bank ad accuses the banking industry of making record profits while squeezing profits from consumers and small businesses, but opposes the legislation and argues that banks have deployed lobbyists in Washington to stop competition and protect their own profits by killing the bipartisan bill.
Expand influence with AARP and law enforcement endorsements
Other ads aim to broaden the appeal of the Clarity Act beyond the regulatory agenda of the cryptocurrency industry. One of the ads highlighted the support of major law enforcement groups and noted that the American Association of Retired Persons (AARP) supports provisions designed to combat cryptocurrency fraud against older Americans. Although AARP's support is not a comprehensive endorsement, it is limited to specific terms involving cryptocurrency ATM fraud.
The National Sheriffs Association has dropped its opposition and shifted to neutrality after months of warning that the legislation could weaken prosecutions of illegal encryption activity.
Timing is crucial
Senate Majority Leader John Thune has filed a motion to end debate, and a procedural vote is scheduled for September 15 to decide whether to limit debate and refer the bill to the full Senate for consideration. The procedural vote requires 60 votes to pass.
The Republicans currently control 53 Senate seats, so at least seven Democrats need to join forces with the Republican unified camp to reach the 60-vote closing debate threshold. If the closing debate vote fails, the bill will be effectively defeated.
When lawmakers resumed on September 14, there were only 14 working days left before the October election recess. With all House re-elections and about one-third of Senate seats due to be held in November, it is expected that the pressure of the campaign season will occupy lawmakers 'attention and shorten the time needed to resolve outstanding contentious points in the bill.
The Cedar Innovation Foundation shares a spokesperson with the broader Fairshake network, but as a 501(c)(4) organization, it does not disclose its donor information. This structure allows it to publish topic advertisements without having to comply with the transparency requirements that apply to super PACs that explicitly carry out election expenditures.
