This is an odd clip. I find it hard to believe that the CEO of a major BBB could be this uninformed about a major piece of financial legislation.
The Clarity Act “doesn’t do anything for AML/BSA.” Really? Have you read Titles II or III?
“It allows them to effectively pay interest on deposits.” False. Section 404 explicitly prohibits digital asset companies from paying any form of interest or yield on a stablecoin balance in a manner that is “economically or functionally equivalent to the payment of interest or yield on an interest-bearing bank deposit.”
It is becoming increasingly clear that bank opposition to the Clarity Act is more about personality than policy.
I told everyone @ewarren was 100% in bed with the Banks when I debated her with @kelleratlarge as moderator.
She refused to ask Jamie Dimon a single question about his bank @jpmorgan financing Epstein - the largest child-sex trafficking operation in American history.
As for crypto, of course there are lots of junk projects and scams within the industry - that’s why we needed sensible regulations. ATM machines have been used for bad things like drug buys - but we don’t ban the technology. In fact, the banks are the biggest crooks in the world. JPMorgan Chase has been fined over $40B dollars for illicit activity NOT including Epstein. Bank of America, Wells Fargo, etc., all have engaged in criminal enterprises, including money laundering for some of the worst bad guys on the planet.
Unlike the banks, Stablecoins require 100% reserves - which is far more safe than the fractional banking system Warren and @SenMarkey love to protect.
When Warren says that the economy will crash does she mean similar to the way the banks caused the Great Financial Crisis in 2008 and then people like her and Ed Markey supported bailing those same banks out with taxpayer dollars?
Warren is a fraud. @SenMarkey is a puppet. I look forward to seeing Markey on the debate stage next.
#mapoli #MASen #Deaton
Would you consider Spencer Pratt's campaign ad misleading now that it's revealed that he lives in one of LA's premier hotels rather than the trailer on his lot? 🤔
On behalf of more than 2.9 million U.S. advocates, @StandWithCrypto is notifying Senators that it will score the Senate Banking Committee’s May 14th markup vote on the CLARITY Act.
SWC strongly urges Senators to vote “Yes” to advance the bill out of committee. Please note that lawmaker scores will be updated based on these recorded votes.
For years, SWC advocates have championed market structure legislation, contacting lawmakers nearly 1.5 million times. Because market structure directly impacts their economic security and daily lives, these constituents are counting on their Senators to stand with them.
SWC appreciates the thoughtful, bipartisan effort invested in this legislation.
52% of voters support the CLARITY Act. Just 11% oppose it.
Democrats. Republicans. Independents. All on the same side.
Crypto isn't a partisan issue.
Now is the time to pass the CLARITY Act 🛡️
This elitist moved to Los Angeles in 2013 and immediately worked as the Director of a Homeless NGO - getting million$ from taxpayers to fight homelessness.
She��s been grifting on the issue for 13 years.
She’s a total phony.
This is a meaningful step toward 24/7 global financial markets.
By combining the XRP Ledger with global banking infrastructure, this pilot shows how institutions can execute cross-border transactions in a single integrated flow.