Clearly Bitcoin doesn't give a shit about Clarity being passed, or a rate hike.
The more time that goes by, the less affected it will be by these things.
BREAKING: πΊπΈ US House pases the Strategic Bitcoin Reserve bill.
This bill locks government held Bitcoin in a reserve for at least 20 years and require regular quarterly audits of their Bitcoin holdings.
Trump just said rates should have been lowered because America became an even better credit.
The market is pricing in another rate HIKE this year. I expect a lot more disagreement between Warsh and Trump in the coming months.
@novogratz "Republicans were afraid of putting real limits on a Presidentβs ability to profit from digital assets."
Who believes the President should be able to profit from digital assets? Does anyone actually support this?
π¨NEW: Several Democrats who have spent months negotiating the Clarity Act, including Gillibrand, Warner, Booker, Warnock, Gallego, Alsobrooks and Cortez Masto, have all voted NO.
One industry leader just texted me: βIt died.β
My take on Clarity Act:
- doesn't matter much for BTC or ZEC
- matters more for ETH and SOL, but still not tons (given below points)
- SEC is gonna release favorable rule-making that will do most of what Clarity would've done anyway
- tradfi will have ~2.5yrs to launch products & gain enough traction such that some future hostile admin won't bother attacking crypto too hard
- Crypto haters like Warren will probably have fully moved on to AI hate by the time a new admin could be in place anyway
This is not the end for the Clarity Act. We've made substantial bipartisan progress in large part because of the White House. This procedural motion allows us to continue working towards a positive outcome.