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Crypto Watchdog launches DC ads amid Clarity Act negotiations
The group says it commissioned a June survey of 1,000 voters showing 65.0% viewed crypto with a high level of distrust.
A new group called Crypto Watchdog has begun running TV and online ads in the Washington, DC area warning about what it describes as risks in digital assets as the Senate tries to complete the Digital Asset Market Clarity Act, which would set a new U.S. regulatory framework for crypto. CoinDesk reports the ads link crypto to alleged criminal and extremist activity, including drug cartels and terrorists, as lawmakers weigh contentious points in the bill.
CoinDesk says the group has not disclosed who is funding its campaign. Crypto Watchdog is run by Executive Director Chapin Fay, described by CoinDesk as a media strategist with involvement in past Republican political campaigns, who was not previously associated with crypto matters.
In an interview cited by CoinDesk, Fay said the organization’s mission is to bring transparency to an over-$2 trillion crypto industry that has historically lacked it. CoinDesk also reports that the organization started its work several weeks ago as the Clarity Act entered the late stage of Senate negotiations.
CoinDesk adds that Crypto Watchdog commissioned a June survey of 1,000 voters, and said 65.0% of respondents viewed crypto with a high level of distrust. The ads, according to CoinDesk, are intended to influence decision makers and the public by highlighting risks it believes exist across different categories of the market.