U.S. BANKS JUST SIGNALED *CLARITY ACT* IS COMING!? WHITE HOUSE AUGUST DEADLINE & XRP REPRICE!

[00:00:00]Massive update for American crypto investors. United States banks, Goldman Sachs, and Charles Schwab just sent a very strong message to the United States government stating it is time to pass the Clarity Act. And this comes on the back end after a massive announcement out of White House official Patrick Witt declares that he believes we will see the Clarity Act signed by President Trump in the month of August. And although there's a very positive picture being painted, the Democrats are still pushing back very hard against this bill. As Senate Majority Leader Thune also told reporters that the Clarity Act likely won't pass the Senate before August. But asked about the Clarity Act getting done this summer, and he said, "I would like to at least get the Clarity Act started, and we'll see where the votes are." Well, during today's episode, we're going to be giving you a fundamental and in-depth update of everything that you need to understand about the Clarity Act and how ultimately, although the Democrats are posturing, it appears that the Clarity Act is about to get across the finish line and be signed by President Trump in the summer of 2026.

[00:00:55]Hello, and welcome back to another episode of Good Evening Crypto, your favorite crypto news-related channel. If you enjoy this content, smash that like button and subscribe as you're going to get an update every single day, 5:30 p.m. Eastern time. And we're going to waste no time diving straight into the content we have prepared for today, but I would encourage all of our listeners to stick around until the end of the episode cuz we're going to show you how ultimately, we may need 10 Democrats to cross party lines and support the Clarity Act to see this bill get across the finish line. But to kick off today's episode, I wanted to give you guys an in-depth breakdown of exactly what's happening right now in Washington, D.C.

[00:01:29]As you heard, White House advisor Patrick Witt is predicting that President Trump will end up signing the Clarity Act before the August 7th deadline. But I want to hear from you guys. Ones underneath the video if you think we get clarity in the summer of 2026. TWOS IN CHAT IF YOU THINK the Democrats are going to prevent this thing from getting done. Well, according to billionaire and crypto expert Anthony Scaramucci, he says that the Democrats have painted themselves into a very difficult situation where they know if they vote against the Clarity Act now, it's crypto voters that will be voting against Democrats come the November election season. With that being said, here's the brand new clip and we'll break it down.

[00:02:03]>> is the Democrats said to the White House, we need an ethic ethics provision that has teeth in it. And so they said, "What do you want?" And they said what they wanted and the White House gave it to them. And now the Democrats are saying, "Well, that's not enough. We want state AGs to be able to enforce these federal ethics provisions."

[00:02:22]So, that's a real problem because then you have to redo all of the ethics codes in the federal government because you can't have the state just prosecuting the crypto and not all the other ethical potential violations in the federal code. So, they've got to get around that and they've got to have a compromise.

[00:02:38]But then the biggest problem is the procedural one. You only have 14 days to go before the August recess. So, you need what's called the procedural prep for a bill like this to happen before the weekend. Today's Wednesday. That means sometime tomorrow afternoon we're going to have to hear that that's in play so they can get it down to the floor to vote. If it gets to the floor, it's going to pass. That's my opinion cuz I think a lot of the younger Democrats are not going to want to go up against the crypto bros and their packs come November. That's my opinion. If it doesn't get to the floor, it dies a brutal death and then guys like Brian Armstrong after all the hours and time and energy that they put into this, they start building their businesses off the shore of the United States.

[00:03:19]>> So, you heard it right there from Anthony Scaramucci that although the Democrats are posturing as if they're not going to support this bill, if they prevent the Clarity Act from getting across the finish line in the summer of 2026, this will work against them come November and crypto super PACs went an impossible 48 for 48 during the 2024 election cycle. That's with backing both Democrats, Republicans, and independent challengers. So, you'd have to be pretty dumb to mess with the crypto super PAC and that's exactly what Anthony Scaramucci is breaking down in that very brief clip. But let's even take this one step further as we just got a major announcement out of Majority Leader Thune, who told reporters that the Clarity Act likely won't pass the Senate before the August recess. Now, Patrick Witt, he has a difference of opinion here, but once again, my belief is if this doesn't get done before August, it's not going to get done this calendar year. If you're enjoying this content, smash that like button and leave some of your thoughts underneath the video.

[00:04:11]Here's what White House advisor Patrick Witt had to say.

[00:04:13]>> We saw just recently that apparently Majority Leader Thune told reporters that the Clarity Act won't pass the Senate before August uh and that he wants to get things done. So, what is your take on the timing of all of this and uh you know, whether we'll at least see some sort of cloture vote or something get to the floor on Clarity before August recess?

[00:04:32]>> My position, my boss David Sacks's position has been pretty clear. We've been working on this bill in a bipartisan fashion for the past year and it deserves to to have a day on the floor of the Senate to get a vote. A bit uh perplexed by uh Leader Thune's uh comments there, uh but uh you know, we are still very confident that uh this will move forward for a vote. I guess technically, he is factually correct that this would not pass the Senate floor uh before August, the calendar month. If he's talking about the the Senate recess, there's that uh first week of August that the Senate isn't session. So, I wouldn't count it out. Perhaps he's hearing from some folks that maybe he's not as optimistic. Um I'm having a lot of conversations of my own and I'm I'm slightly more optimistic that uh we can move this forward and to get the necessary votes to advance the bill.

[00:05:18]>> you guys heard it right there. Patrick Witt is slightly more optimistic than Senate Leader Thune, and Senator Cynthia Lummis has confirmed that President Trump will sign the Clarity Act and will not veto the ethics issue. And this was one of the biggest hurdles that we've already resolved here publicly, but let's listen to what Senator Cynthia Lummis had to say about the Clarity Act being at the one-yard line at the time of this recording.

[00:05:37]>> You you're still going to try to get it over the finish line by the time you leave for the August recess. What do you think?

[00:05:44]>> You know, that's still my goal because uh I even personally am losing the ability to muster the enthusiasm after 11 months of negotiating to try to find an answer that pleases everyone.

[00:06:03]>> Definitely a little bit of deflated, and I think the point is is that this is all about trying to get this across the line for the American people, not for trying to please everyone as in terms of maybe every senator >> or is it other and special interest groups? That's the pressure right now that continues to face us, and this is really the banks' last attempt to try to thwart this and kind of hold up the whole navigation of how clarity is going to go forward.

[00:06:30]>> And so I very much agree with Paul Barron that what we're seeing here from the banks and the Democrats is a last-ditch effort to get as much as they can during these Clarity Act negotiations before ultimately this piece of legislation gets across the finish line, and there's no more opportunities to alter what we consider to be United States >> crypto regulation, but it's not all banking incumbents that are actually critical of the Clarity Act. As $2.1 trillion asset manager Goldman Sachs, their CEO officially backs the passing of the Clarity Act, and he was very optimistic about his vision for the industry, stating that Goldman believes that the Clarity Act would create clearer rules for a framework for digital assets. It would also help TradFi participate within the crypto market and improve market stability as well as the long-term innovation that is happening here in the crypto space. And they weren't the only large firm as Grayscale's asset manager just announced support for the Clarity Act this morning, stating that the Clarity Act may soon clear the Senate if bipartisan negotiations can make progress on the next few remaining issues. And as we know, the ethics provision is the big thing preventing this thing from getting across the finish line, but it's also Charles Schwab, the $13 trillion asset manager, that said the Clarity Act is at a really important fundamental catalyst, and it needs to pass in the summer of 2026. So if you believe we're going to get the Clarity Act, guys, smash that like button and leave some of your thoughts underneath the video. I'm about to play another update that we just got out of Patrick McHenry that said the Clarity Act is getting close to the finish line, but questions still remain.

[00:07:53]And during this interview, he stated, "It's a question of when, not if, the Clarity Act gets across the finish line, and that August 7th deadline, that's what everybody should be watching."

[00:08:02]>> quarter of this bill, will this pass?

[00:08:03]>> Um, eventually, yes. It's a question of timing. Uh, it's it's sort of when, not if. Though the debate right now on Capitol Hill is a lot of if.

[00:08:11]>> So, again, this comes back to the issue that we've said since the beginning of this episode, is that even if you're rooting against the crypto industry, like somebody like Elizabeth Warren, well, ultimately, it would benefit you to pass the Clarity Act and prevent President Trump from launching future crypto projects. If you support the crypto industry, you'd also want to vote in favor of the Clarity Act. We need, officially, 10 Democrats to cross party lines, and we're going to break down within this exact video, the Democrats that are going to define whether this bill gets across the finish line, or we're sitting in regulatory purgatory for years to come. Here's a phenomenal breakdown that was given to us on the Paul Barron podcast. Here it is.

[00:08:45]>> My current odds of success are 15%.

[00:08:48]Almost every outlet is printing the Clarity needs seven Democrats.

[00:08:52]That number is wrong. Senator Mitch McConnell has not cast a floor vote since June 11th. Senator Rand Paul and Senator Josh Hawley both voted against the GENIUS Act. Galaxy Research and I expect both of them to oppose oppose Clarity. That's 50. 60 minus 50 is 10.

[00:09:12]CoinDesk published the same logic this morning. Their words, "The Senate is expected to need at least 10 Democrats."

[00:09:18]Count the Democrats who have publicly endorsed the ethics provision, zero.

[00:09:22]Count the ones on record against it or conditional on changes. Gallego, also Brookes, Gillibrand, Warren, Murphy, Van Hollen, Merkley.

[00:09:31]That's seven named senators, and the first two are the only two who ever voted for this bill in There is one more variable. Senator Lindsey Graham died on July 11th of an aortic dissection. Governor Henry McMaster appointed his sister. She has no voting record on crypto. As far as I can tell, no one has asked her where she sits on this.

[00:09:53]>> Yeah, yeah, yeah.

[00:09:55]>> [laughter] >> All right. So, yeah, yeah, I exactly.

[00:09:58]You're you're going to get, I think, a standard rubber stamp coming out of Lindsey Graham's sister. So, that's that's a vote. Uh and then you look at the roll call and where this has been in the past, the Republicans have been overly prominent around supporting crypto. I don't think that changes.

[00:10:15]Clarity went through the house a year ago, guys. And if you break it down by post by party, post by party, you can pretty much see the Republicans are not going to bend on this. They're going to pass it through. That's going to be the case in the Senate. The real question is where is this going to come out of the Democratic Party? There's a lot of Democratic senators that are already posturing, I think, for a potential vote, even though they have said that they may not. You remember Angela Alsobrooks, this is one of them right there. Genius Act voted. She's got an A rating over on stable with crypto.

[00:10:49]Uh the closure votes, etc. All of this all posturing, guys. All posturing. When you look something that was dropped over on Punchbowl News, this is all, again, virtue signaling. This was John Cornyn and John Cornyn talking about Wednesday night they were going to share concerns with the banking sector about the impact of stablecoin yield on the community bank deposits. Crypto is not going to be loaning money for small businesses. That was Cornyn saying that.

[00:11:15]>> So, this is all to say, guys, that ultimately we could see more Democrats cross party lines and support this bill than people are anticipating. And we briefly saw this in the Senate Banking Committee when two Senate Democrats actually crossed party lines in order to get that bill through at that particular point. Now, what we're going to be getting into for the next portion of today's episode is a brand new update out of White House advisor Patrick Witt.

[00:11:36]And what he's stating in this very short clip is that the White House director is still focused on getting the Clarity Act across the finish line, and they're doing everything they can to move Democrats in favor of this issue. But, he's ultimately saying that the next two weeks are going to determine what happens for crypto regulation over the next 3 and 1/2 years. But, if you guys are enjoying this content, smash that like button and let me know some of your thoughts underneath the video. Here's what Patrick Witt had to say earlier today.

[00:12:01]>> Um if you're waiting for there to be some kind of grand bargain deal in which you have, you know, call it 10 Democrats in advance saying, "Leader Thune, please put this on the floor. We can't wait to vote for this." You'd be waiting forever. It's just never going to happen. That's not how Democrats have negotiated throughout this entire bill.

[00:12:19]Um unfortunately, I I I genuinely mean it when I say I wish that weren't the case.

[00:12:25]Um you know, I I'd certainly be a lot less uh stressed and I'd have slept a lot more for the past year, but um you know, we we are doing our best to to answer every one of the uh the issues that they've raised, every one of their policy objectives. I mean that sincerely. Um even on ethics, as we saw yesterday, you know, nobody thought that we could actually um you know, produce an ethics provision that had real teeth and that included the president. We did.

[00:12:50]We've answered every one of their um their issues that they've raised um in in a good faith way. I'm a very transparent person. Anyone that's dealt with me knows. I'm not a good liar. I'm not a good poker player. I'm not trying to play games. I'm telling you exactly uh where we are, where our red lines are, and I'm trying to get creative to find solutions to to achieve the objectives that they want.

[00:13:12]>> that you guys have a full understanding of where the Clarity Act sits today in Washington, D.C., it is an absolute certainty that we're going to get answers on this legislation before the August 7th deadline. And as we record this episode today on July 23rd, this entire narrative is accelerating at an unprecedented rate, but I wanted to answer the question for our listeners about why the Clarity Act is so important because my belief is that this would unlock all of that idle capital that's sitting on the sidelines ready to be invested in the blockchain space. And a lot of times when people reference what's possible in crypto, they go back to what happened during the election cycle of Donald Trump. On November 5th, 2024, we saw the XRP price chart clock in at 50 cents. By the end of the month, it was a $3 asset. And my anticipation is that after the Clarity Act is signed into law, we're going to see all of these large companies begin to integrate blockchain technologies into their regular everyday business models. And this business and this asset class will fundamentally move from a speculative asset class into a utility-based asset class. And quite frankly, nobody knows what the impact would be on the XRP price chart in a crypto market that is solely focused on utility. So, if you're unsure about why the Clarity Act is so important, this piece of legislation is set to unlock trillions of dollars here inside the United States and maybe even more importantly, it is going to shift this market from speculation into a utility-driven asset class. If you enjoyed this content and you believe Clarity will be SIGNED IN 2026, SMASH THAT like button, subscribe to the channel, and we'll see you all in the next one. So, if you're looking to implement the same strategies that we do here on Good Evening Crypto, I would encourage all of our listeners to click on the iTrustCapital link below and sign up to take advantage of tax-free crypto gains. Now, that's not the best part. By leveraging the iTrust link below, you're going to get a $100 free sign-up bonus to start funding your iTrustCapital account. This is going to give our listeners access to crypto assets in a Roth IRA product allowing them to compound those gains tax-free until they're 59 years old and held these funds for 5 years. So, a really unique advantage. So, if you're excited about the future of digital assets, I would encourage everybody to sign up for iTrustCapital so you can take advantage of those compounding gains tax-free.