"Congress Just PULLED Another Clarity Act SURPRISE! What Happens NEXT?"

[00:00:00]Welcome back to the show, ladies and gentlemen. Check out these headlines.

[00:00:03]We've got the latest here on the Clarity Act as Congress just pulled another Clarity Act surprise. Let's not waste any time. We've got all the updates you're going to need. Is it going to pass? Is it going to fail? Is it going to be a rug pull? Somebody roll that beautiful intro.

[00:00:22]>> [music] >> Digital Perspectives [music] with Brad Kimes. Come on in.

[00:00:37]>> On top of this thumbnail is cryptography. If you decode it, there's a hidden message inside, but I can't tell you where it came from.

[00:00:47]Welcome back to the show, ladies and gentlemen. Before we get started, you know we got to start right here. It is the price of XRP is a dollar 15. I just want to level set for everybody so our feet are planted on the ground. Let's get into this thing, ladies and gentlemen. And by the way, the price has come up a little bit, up over 3%, 3.74% in the last 24. A lot of that has been because of the motion and news we've gotten on the Clarity Act. We're going to jump into it right now. Let's start with this understanding very quickly here. It is the geopolitical pressure right here from around the world, and it is the UK's Financial Conduct Authority set landmark crypto rules to cement UK's place as a global hub. Let us not forget that we know that London Stock Exchange has also moved to do round-the-clock trading just like we're seeing here in the United States with the DTCC, Nasdaq, and New York Stock Exchange. They're going 24/7, ladies and gentlemen. Let us also not forget Ripple, BlackRock, and Goldman Sachs, and many others are part of that HM Treasury in the UK's Wholesale Digital Markets Task force. So again, giant financial hub in the UK.

[00:02:01]Well, what else is going on? The pressure from the EU and 30 nations that passed a Mica regulations that went into effect July 1st. This is super critical to understand. Again, Ripple positioned beautifully as they receive a full Mica CASP authorization in Europe. This is setting the stage. We are involved in the UK, huge financial hub. We're involved in the EU, which is a massive deep liquidity market for the FX pairings of the US dollar and the euro.

[00:02:33]This is remarkable. And then we got this news.

[00:02:37]Russia is to finalize a bill today establishing a legal framework for cryptocurrency.

[00:02:44]Again, the power of the geopolitical pressure to get uniform legislation that works globally so this as these digital assets this innovation can be embraced as an asset class.

[00:02:59]That's where we're quickly moving and I believe this geopolitical pressure really makes a real statement here and we'll get to that right now. It's what Patrick J. Witt has said that really echoes what we say here from the channel all the time. He highlights Russia's finalizing the bill for crypto and a legal framework for crypto and he says tap sign.

[00:03:22]And basically, the world won't wait on America forever. We can either lead the way on digital assets by passing the Clarity Act or watch as someone else sets the rules of global finance for us.

[00:03:37]That is just not the way that we operate, right? And here's a quick reminder here that document shows Central Bank of Russia would use XRP for cross border payments or could use it and that is a very old document from 2018 that we've talked about here on the channel off and on for years and it does show that there was some kind of examination done by a very large bank of Novus Brisk, I believe in Russia. So, that is again another example of how we're being looked at if not even considered. So, I trust Capital, ladies and gentlemen.

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[00:04:39]itrustcapital.com/go/xrparmy We'll see where that goes, but coming back domestically here to the United States, what's happening? And what's happening is Taylor Barr from the the governor of government affairs director at Digital Chamber says, "Saying no to the Clarity Act means saying no to giving regulators new tools to protect consumers, target bad actors, and combat illicit finance. That means saying no to $150 million in authorized funding for FinCEN over 5 years or new Treasury authority to restrict transactions tied to money laundering concerns, a permanent CFTC digital commodity retail advocate, a new public-private information sharing pilot, stronger consumer education on identifying and reporting fraud, customer asset segregation disclosure and market integrity requirements for digital asset intermediaries, expanded AML CFTC requirements including suspicious activity monitoring, and formal risk management standards, a targeted process for temporarily pausing specifically identified suspicious transactions. And the Senate package is still being finalized.

[00:05:52]This is only a snapshot of the tools and protections currently included as negotiations continue.

[00:05:59]You know, the irony of all of this, and shout out to Taylor from Digital Chamber, the irony of all of this for me is that here you have the Democrats saying we don't have enough regulations and President Trump was able to go make a lot of money in crypto and his family, too. And that upset them.

[00:06:18]But if they had passed the Clarity Act, none of this would have been an issue.

[00:06:22]But they keep stomping their feet as if they're not aware that the Clarity Act fixes it.

[00:06:27]Coinbase went on yesterday, we covered it, to push the Clarity Act. Just a quick clip of this very quickly.

[00:06:33]>> The The House has done one version, the Senate's been working on others. What What do you know about the Senate version and and what it includes, what it doesn't include?

[00:06:42]>> Yeah, well, first and foremost, I know that there's been tremendous momentum even in the last few weeks and days. You continue to have a bipartisan group of of Senate Democrats and Republicans working together. But the true measure of a bipartisan bill is not whether everyone gets what they want. It's whether ultimately Americans will be better protected compared to the status quo. And there's actually no meaningful debate in that space. This is going to create a for the first time a comprehensive federal framework and oversight over the crypto space. And Joe, I think it's important to remember it's not about no regulation. This is about imposing regulation on the industry for the first time. And so, you have a unique opportunity for the trifecta win-win-win. America >> That's exactly right. But there's still an issue, and the Democrats are stomping their feet after they stopped, installed, and tried to kill crypto as an industry for 4 years when they had total control of the government.

[00:07:39]And here's the latest we got from Eleanor Terrett.

[00:07:43]This came out just yesterday evening and she said, "I'm hearing from multiple industry sources that the White House has agreed on an ethics package for Clarity Act and sent the language to certain Republic Senate Republicans this afternoon. It is still unclear what the details of the arrange agreement are. I've reached out for comment, but industry participants are hopeful this could clear the way for the updated bill text to be released soon. Again, as I've said here, you know, uh they were all fighting uh Senator Elizabeth Warren and the other Democrats that were holdouts.

[00:08:18]We have to have ethics provision.

[00:08:20]President Trump and his family can't be making tons and tons of money. They none of them had a problem when Nancy Pelosi and everybody else in Congress just raiding the honey pot with insider trading, literally illegal insider trading.

[00:08:34]This is a family investing in an open free market that we can all invest in and President Trump was invested in this market before he even took the oath of office. However, if they want to write ethics rules, I have said it over and over and over again. I believe President Trump did this to force Congress to write rules on ethics, making sure him and no other politician could do exactly what he done cuz he understands the hatred for him from the Democratic side.

[00:09:01]That's what I really do believe because he plays them like a fiddle. And the reality here is is that what did we find out? They thought there was going to be a big big pushback on ethics? Well, that's not what we're hearing. What we're hearing is is the White House has agreed on an ethics package. And isn't that amazing? Well, listen to this new update.

[00:09:20]Bipartisan discussions are taking place on Capitol Hill today and this is in a follow-up to the post from Eleanor Territt that I just read you. Shout out to Ellie.

[00:09:29]Negotiators are also discussing DeFi provisions, but ethics remains primary hurdle.

[00:09:35]Asked about the ethics proposal, a spokesman for Senator Lummis said, "Last week's conversation with the White House went well, and that the ethics text set to release in the coming days will reflect that productive conversation."

[00:09:49]Again, this is boating to the signal that we've talked about here that Trump planned on ethics being an issue and had no problem with them passing something for it. That's where we're at right now.

[00:10:00]Then we got another great piece of news.

[00:10:03]Remember how we reported here that White House crypto executive director Patrick Witt said that he had to go to a a uh non-deferrable, it was undeferrable, could not get out of it, National Guard training, it's been postponed allowing him to remain focused on advancing the Clarity Act through the Senate. This is massive right here, ladies and gentlemen. He said directly, "For the past year, I've worked diligently to get the Clarity Act passed, fulfilling President Trump's vision to make the United States the crypto capital of the world."

[00:10:37]Lastly Last week, it was reported that I was set to leave for mandatory training as a part of my service in Georgia Army National Guard.

[00:10:46]Right before the Clarity Act hits the Senate floor. While I remain committed to fulfilling my service obligation, I am grateful to report that my training has been deferred and that I will be able to see this effort through to the end. Thanks to President of the United States and David Sacks for the opportunity to continue this important work and to everyone who reached out last week. Let's finish the job." And as you can see, I put right here, "Outstanding." This is outstanding, ladies and gentlemen, because I believe he's been absolutely pivotal in getting this done. Shout out to Patrick J. Witt. David Sacks had this to say that it was great news Patrick J.

[00:11:25]Witt will be staying on to take Clarity Act across the finish line, and it is.

[00:11:29]He's worked so hard to get it to where it is with the Congress. I want to see it across there and he deserves to be there with him when it does. Now, if you're wondering why the market is green today, it's the ethics clause on the Clarity Act appears to be resolved as we just covered. And that single provision, the conflict of interest rule round government officials crypto holdings, is what held this entire bill hostage for months. Democrats pushed hard for it while Trump kept filling his bags with one crypto scheme after another and dumping on retail. But it now seems like real progress has finally been made with the White House reportedly conceding the language described as more aggressive than anything seen before. Next up, Senate floor vote before Congress leaves for August recess on August 7th. That's what we want to hear, ladies and gentlemen.

[00:12:21]Real quick, ladies and gentlemen, if you're looking for a crypto tax software to take the nightmare out of your crypto transaction history, we've got it right here for you. It's CoinLedger. All you need to do is click the link underneath in the description box or simply go to payxrp taxes.com and use the crypto tax 10 discount and get 10% off. Sign up >> [laughter] >> Take that with a grain of salt, but that's what the inverse Cramer would say and most people invest in that regard.

[00:13:13]Not financial advice, but there are a lot of people that do do that.

[00:13:16]Now, here we have clips that really put a bow on all of this where it is. This is Lindy Lindsay Fraser from Blockchain Association on Paul Barron. Shout out to Paul and Lindsay. And I want to play this quick clip for you why we need Clarity Act to pass before August. And here it is, Lindsey Fraser from Blockchain Association.

[00:13:36]>> Well, that's why it's so important that it gets to the Senate floor before the August recess because then it's through the Senate. So, when the House comes back, they just need to green stamp it and then it'll go to the president. I think the biggest fear is that if we let it if we don't have the the vote on the Senate floor ahead of August, then to your point, all these senators who I think are in a good place right now, they go home to their districts, they're hearing their people, they're hearing from the banks, etc. I think that leaves us in a really, really hard spot in the Senate in September, which is why we've said we think it's necessary for the bill to get a vote on the Senate floor before the August recess. Otherwise, honestly, my percentage goes from 60 down very close to zero. Well, that's why it's so >> Well, there you have that. So, it is important to get it done before the August recess. And I've got another clip that you need to hear here. Uh let me fire it up right here and listen to what she says here. Take a listen.

[00:14:33]>> With all that being done, it's a year later. Does that mean that you aren't completely sure that if it does make it to the Senate floor that it could even go through?

[00:14:43]>> And he's talking about a year later from the Genius Act. And let's hear this. And remember, you know, there was a huge bipartisan uh effort uh to vote for the Clarity Act coming out of the House.

[00:14:53]>> No, I I feel confident that if the bill um makes it through the Senate floor, we will I think it'll be able to get through the House relatively quickly into the president's desk. I think that's really the gating issue here is getting to that 60 on the floor. And it's just a question of um you know, will there be a an agreement in principle to have 60 votes before it gets scheduled to get on the floor or do they just put it on the floor and kind of see what happens?

[00:15:22]>> Man, this There you go right there. That is the money shot, ladies and gentlemen.

[00:15:28]Now, we all have the 411 on where the actual Clarity Act is right now, and it is mission-critical.

[00:15:35]I'm going to ask all of you to reach out and connect to congress on crypto-law.us.

[00:15:41]Connect to congress, contact anybody who's a holdout, and tell them to pass the Clarity Act. It matters. One voice equals 10,000 constituents to any congressman's office when they call. It is a big deal to call. Now, with that being said, I also want to direct your attention and say, "Hey, click that video right here on the screen because it is the next follow-up that you need to see." I couldn't fit everything into this video, but I'm going to in the next video show you just how this works geopolitically and how all of this with the Clarity Act works as a catalyst to open up the market globally. You're going to want to see it. It's going to blow your mind. Click that video and come on in. I'll see you inside. Not financial advice from me or anyone else.

[00:16:25]It's just my digital perspectives. I'll catch all of you on the next one.