SWC advocates have contacted lawmakers 1,000,000 times for the CLARITY Act.
That's a million contacts telling their Senators: pass clear rules for digital assets.
Not lobbyists. Not insiders. Real crypto voters
The Senate leaves for recess August 7th. If you haven't made your voice heard yet, now's the moment. Every message counts.
More than a year ago, the House passed the Clarity Act.
There’s been progress since — thousands of hours of bipartisan negotiations took place at the staff and Member levels. The Senate Committees on Banking and Agriculture advanced their respective titles. And Senate Republicans produced a floor-ready product that, as I type this, is waiting for a vote.
It’s disappointing — but not surprising — that Senate Democrats are choosing politics on the cusp of a major victory for American leadership. Find another instance in history where Congress, when given the choice, opted to push an industry out of the United States rather than smartly regulate it. American Exceptionalism was once a bipartisan goal; if Clarity fails, I have serious doubts.
These same Democrats — many of whom have taken millions of dollars from the crypto industry — proclaim that Clarity lacks safeguards for consumers and falls short in countering illicit finance. Nothing could be further from the truth. Titles II and III materially uplift regulatory and compliance obligations for digital asset intermediaries, placing them on similar footing with traditional financial institutions. The Blockchain Regulatory Certainty Act — which Washington lobbyists have spun up as a boogeyman for certain groups of prosecutors and law enforcement — does nothing other than codify longstanding Treasury Department policy that’s remained consistent across Administrations: non-custodial builders and developers are not, and have never been, subject to registration obligations under the Bank Secrecy Act. And at this point, major law enforcement trades that once opposed the bill, including the Fraternal Order of Police, have now endorsed it.
The Senate needs to vote NOW on this landmark legislation. The truth is that Senate Democrats are afraid to advance the Clarity Act as they fear Senator Warren and the “Anti-Crypto Army” she once promised to build. In the days ahead, Leader Thune will put this theory to the test. Will Senate Democrats be on the side of American Exceptionalism, or will they opt to cede American leadership of a global industry for fear of the bespectacled squirrel’s Left flank?
America will lead or America won’t. It’s not more complicated than that. I believe Satoshi once said it best:
“If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”
@hedera@FedEx It’s time for HEAT to start shipping council members , Clarity is coming and we should have our foot on the competitors necks , and CLPR for retail
Crypto is a top priority for 3M Crypto Voters — and the CLARITY Act shouldn't be pushed to the back of the line.
The Senate has 10 days before the August recess to give crypto owners clear rules.
Tell your senators: pass CLARITY before recess 👇
@SpeakerJohnson@Judy1732243 You could ban stock trading by U.S. Representatives tomorrow with a simple change to House rules. It wouldn’t even have to go through the Senate or be signed by the President.
Instead you put this political gimmick up for a vote which had a poison pill for Dems in it - Voter ID.
Senators are about to take a 5 week recess (their longest of the year), and they’ve done absolutely nothing on behalf of the American people.
🇺🇸 CANCEL THEIR RECESS AND PASS CLARITY ACT & SAVE AMERICA ACT!
WITHOUT CLARITY, if a crypto exchange goes bankrupt, customers’ assets (crypto, stocks, cash, etc) are at risk of being treated as the exchange’s property and used to pay off the company’s debts. Customers are treated as unsecured creditors. In sum, retail investors get screwed and remain without protection. CLARITY helps prevent that from happening.
Quite possibly the best advertisement for passing Clarity is that @ewarren is against it at the federal level and Letitia James is against it at the state level. Must be worth passing.
1/ It’s Monday and we have a big week ahead for the Clarity Act. As CCI goes back to the Hill, we are countering the Clarity myths and setting the record straight. 🧵
Crypto exchanges, DeFi platforms, and crypto ATMs won't hide from the law anymore. The Clarity Act closes the DINO loophole and brings every corner of the digital asset market inside the Bank Secrecy Act and sanctions framework.