Exactly. Without @brian_armstrong and @coinbase speaking up in January, we'd have a bill that would have:
1) effectively banned tokenized equities
2) severely restricted defi developers
3) made the CFTC subservient to the SEC
4) likely killed stablecoin rewards
That would have been bad in and of itself, and it would have fractured the industry and effectively killed the bill.
We now have a very good bill teed up for passage. Let's focus on getting CLARITY across the line.
.@jdorman81 you are ignoring months of hard negotiations on complex issues that had to happen before the Senate could pass the CLARITY Act. Before the markup or after it, the work had to be done.
We opposed the bill because it would’ve locked in problematic provisions that would have killed rewards, tokenization & hurt developers. Nobody wanted that, and the bill is vastly improved today.
We’ve pushed for Clarity for 10+ years, and we'll keep going until it’s done.
The CLARITY act represents a ton of bi-partisan work to finally establish clear rules for crypto in America, which 70% of Americans say we should already have.
Whether people love crypto or hate it, there is broad consensus that we need clear rules to protect consumers, give new tools to law enforcement to stop bad actors, and to bring crypto within the U.S. regulatory perimeter so it stops going offshore where we have no control.
The bill even contains many pages of new authorities for banks to integrate stablecoins and crypto and grow their business, which we strongly support. This is about America getting back to winning, and remaining strong as a financial and technology hub, to create economic growth, jobs, and tax revenue.
This week we get to see who in the Senate represents the will of the people, and will step up to vote YES on this common sense legislation.
1 in 4 Americans hold crypto - and passing CLARITY is a priority for them.
American voters are 2x more likely to support a candidate that backs CLARITY (vs those less likely), regardless of party preference. So the stakes are high for Senate leadership.
CLARITY isn't only a win for crypto users. It’s a win for the future of America as a global leader for finance, innovation, and national security.
It delivers on all fronts, and voters know it. Senators should too.
I've written about this, but a lot of people really fail to recognize what a wildly popular consumer tech co OpenAI is with normies. Millions of people absolutely love ChatGPT, its about to hit 10M app store reviews with a 4.8 rating
If you listen to the loudest voices in the artificial intelligence debate, you would think America is on the brink of an apocalypse and that “Terminator”-style robots are hunting humans, rogue computers are turning on their creators like Hal in “2001: A Space Odyssey"...
I spoke with entrepreneurs, nurses, yoga teachers, and small business owners about why they disagree. Full story on why so many Americans are over the moon about the new technology.
https://t.co/Q3Rwv9z2u0
60M+ crypto owners. Leading financial institutions. Law enforcement.
They all agree on one thing: we need clear rules and strong consumer protections.
This is no longer a debate - it's a mandate.
Pass the bill.
This week is one of the most consequential for the CLARITY Act and the future of crypto in America.
@pmarca, @rhackett, and I discuss what the bill does, why it matters, and some common misconceptions.
"The giveaway is part of [Meta's] commitment to provide 130,000 Meta AI glasses to legally blind veterans across the United States. The AI-powered glasses are designed to help users navigate their surroundings and complete everyday tasks more independently."
Clarity secures American leadership in the technology that will shape our economic future. Clear rules. Strong dollar. Innovation at home.
Let's get it done
Former Secretary of Defense @MarkTEsper is exactly right on the CLARITY Act:
“The stakes are clear: American leadership in technology that will shape our economic and strategic future. This week may be our last real window.”