[Lobbying Intensifies Between Crypto Industry and Community Banks Ahead of Procedural Vote on Clarity Act on September 15] Odaily Planet Daily reports that the U.S. Senate plans to hold a procedural vote on the Clarity Act on September 15. The bill aims to establish federal regulatory rules for digital assets, with regulatory responsibilities shared between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Stand With Crypto, a crypto industry advocacy group supported by Coinbase, stated that its members contacted congressional representatives nearly 50,000 times via calls or emails in August, organized events, and published opinion pieces in local newspapers supporting the bill. Crypto industry groups have already spent at least $190 million on the upcoming midterm elections in November. The Independent Community Bankers of America (ICBA), an independent community banking organization, has arranged for local bankers to meet with senators in their home states and has launched television ads calling for amendments to the bill. ICBA argues that the bill should explicitly prohibit stablecoin rewards to ensure community banks can continue supporting $4.1 trillion in local loans. Stablecoin rewards have become a key point of contention. Banking groups believe that allowing crypto platforms to pay rewards on stablecoins could lead to a loss of traditional bank deposits, while crypto companies advocate for retaining such rewards and call for clearer federal regulations. The bill also faces opposition due to anti-money laundering safeguards and ethical restrictions on government officials with crypto asset interests. (Decrypt)