Gate News reports that on March 11, CEX Chief Legal Officer Paul Grewal posted on X platform, questioning some proposed amendments to the CLARITY bill. Paul Grewal stated that banks claim the need to prevent so-called deposit outflow risks, but there is no evidence to support this risk assertion. The real situation might be “shifting stablecoins from retail consumers’ pockets into the largest banks in the world.” Patrick Witt, Executive Director of the U.S. President’s Advisory Council on Digital Assets, also publicly stated that the CLARITY bill must maintain its legislative stance supporting innovation. Attempts to “hijack the legislative process” and turn the bill into an anti-competition law are “shameful.” Patrick Witt emphasized that relevant legislation should continue to promote innovation in the digital asset industry rather than restrict market competition.
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