Crypto Executive: Amid CLARITY Act Controversy, Community Banks and the Crypto Industry Are Allies

Jinse Finance reported that a crypto industry executive has refuted the statement made by the chairman of the Community Bankers Association, who claimed that any compromise between the banking industry and the crypto sector on the US CLARITY Act would be a mistake. Austin Campbell, founder of Zero Knowledge Consulting, posted on X on Friday: "If community banks and the crypto industry can't find a way to cooperate, we already know who the winners will be. It won't be community banks, consumers, or the crypto industry." He added: "The winners are the big banks." Campbell explained that community banks face technological and regulatory challenges, which can be addressed through stablecoins, emphasizing that there is a very direct connection between the value brought by community banks and the solutions offered. Campbell told stablecoin yield providers and community banks: "They are not enemies; they are allies." He added: "Big banks and the bank lobbying groups they fund have deceived both sides into fighting each other, making the ultimate winner Jamie Dimon's bonus."