Senator Moreno: Banking Cartel Is 'In Full Panic Mode' Over Crypto Clarity Act!

Senator Bernie Moreno is calling out the traditional banking industry by name, declaring that the "banking cartel is in full panic mode" over the Crypto Clarity Act — a piece of legislation that would establish a clearer regulatory framework for digital assets, including stablecoins.

Moreno's broadside targets decades of what he describes as asymmetric banking economics: institutions paying depositors near-zero rates while deploying that same capital for outsized profits and executive compensation. His argument is that stablecoins represent the first credible structural threat to that model — giving consumers a direct, programmable alternative to the traditional deposit relationship.

The senator framed the banking lobby's opposition as a defensive maneuver dressed up as concern for financial stability, arguing that incumbents are "running to Congress again, screaming about threats to…