THEY JUST FLIPPED XRP!!!!!!!!!!! (GAME OVER?)

Added: 2026-05-07

[00:00:00]Yesterday, it looked like Senator Tom Tillis was going to hold up the Clarity Act. Today, he's had a change of heart and is going to urge the Senate to move forward with the bill. Let's go through the latest information. This is all going to be brand new information, of course. We also have some clips from key industry leaders on the impact of what this could do for the industry, of course. And as XRP holders, we want to see this thing get through and pass because what's good for the entire industry is good for XRP. If we want to see institutions coming into the crypto space and bringing that trillions of dollars of volume on chain, we need clarity. So, here is Senator Tom Tillis.

[00:00:39]Elanor Terret did say uh she she said that he's ready to push the Clarity Act markup forward. The quote for Tillis is, "I'm going to ask the chair to move forward with scheduling the markup when I get back. I think we've made a lot of progress and it's time to get it before the committee and time to move it forward." Tillis told my friend and former colleague Chase William in a reporter gaggle on Capitol Hill this morning following the Worsh vote. Worsh is going to be the new Fed chair it sounds like. Tillis went on to say most bank concerns on stable coin yield have been heard and addressed adding that others are welcome to come and work in good faith on timing. Tillis hopes to release legislative text on stable coin yield four to five days before the markup after stakeholders got a preview.

[00:01:28]So, there really isn't going to be a ton of time here. I'm sure there's going to be a flurry of uh investigators on X that are going to comb through what the bill looks like and maybe what are some of the pitfalls and maybe the positives uh that we should be looking at and I will bring you those updates. Make sure that you are subscribed to the channel, bell notification turned on if you want to get access instant access to all my content. Goes on to say on software developers and how law enforcement views the potential impact on enforcement under the 1960 criminal statute, a new flag Tillis raised this week. He pointed to Senator Lumis approach saying that is generally in support on where the bill stands. So it could have been an issue.

[00:02:10]It appears now it is not. Following Senator Tom Tillis's comments and a sense of renewed optimism from industry and Senate banking staff that the Clariac markup is within striking distance, efforts are now ramping up to tie the remaining loose ends up with the yield issue largely resolved per Tillis.

[00:02:29]Attention is shifting to the ethics and DeFi portions, specifically the blockchain regulatory certainty act and the section 1960 provisions. Remember, these were the two biggest hurdles that we did talk about over the last few days here. The ethics issue is something that Democrats want and Republican Tom Tillis wants inside of the bill here. You need seven Democratic votes in every Republican to get this through the full Senate vote. And so having ethics in there is going to be very important.

[00:02:59]This basically just means that uh if you are in the Senate or if you are in the Congress or if you are the president or in the executive branch, you you know you you shouldn't be making money off a crypto project and promoting it while you're in office. And that's what the ethics provisions are going to be around. Senator Lumis, who's been leading on this issue, had this to say about the status of the negotiations.

[00:03:19]We've made significant progress on the safeguards of non-controlling developers with respect to money transmitting laws, and I hope to have more soon. ethics language is being more actively negotiated and those provisions are more likely to be added after the bill reaches the Senate floor per sources familiar with the matter. And so we talked about the ethics. Now the uh the DeFi safeguarding is so if you are a developer and you write code and then somebody uses your code to do malicious things that the person writing the code wouldn't be held liable. And that's going to be important if you want to see new in uh more innovation happen here inside of the United States. Chad Steingraber went on to say here, "The Clarity Act passing in the Senate is not the final obstacle." He says, "I'm afraid there is more potential failure here in the House than in the Senate.

[00:04:07]The Constitution requires that the exact same text passes both the House and the Senate. The path forward if the Senate amends the House passed bill. The House must either vote to agree on the Senate amendments or both chambers must send it to the conference committee to work out the difference. So, this is a great point that many people are missing here because the Senate has made so many changes to the bill. Now, it needs to go back to the House. if the Senate approves it for the final House to approve the changes made to the text.

[00:04:37]You did have 73 Democrats cross the party lines to vote for that version of the Clarity Act and that version has since been changed. And so what will happen I will of course bring you the updates when we get them. Now Milkro did post this the ne next crypto bull run has a completely different setup than any other cycle before. Genius Act pass stable coin rails are live. Clarity Act coming Novagrats thinks it's the law of the land by June and then of course Sailor's new strategy uh product in for Micro Strategy finally found the product market fit. Let's go ahead and play this.

[00:05:14]>> Now you know the setup for the next bull run is we've got the Genius Act passed.

[00:05:18]So stable coin legislation is through and people know how to launch those and that's a much more adopted thing that brings more capital into the digital asset ecosystem overall. The Clarity Act is, you know, you know, God willing, going to pass finally in May. That's the estimates now from the committees and from the Senate and from most people that I've I've heard comments on this.

[00:05:36]Novagrats, for example, just had an interview recently saying that he does believe it'll be law in June. So, if we get the Clarity Act in that gives people rules of the road in terms of taxonomy, rules for DeFi, for developers, for launching different kinds of cryptocentric or cryptonative products and services in the United States. So that allows a lot more people to come to market with things there. And then we've seen, you know, I think the the big thing that I've been calling attention to recently is that Michael Sailor with Strategy has iterated, I think at this point, 18 different kinds of products to bring to market based on Bitcoin as digital capital backing those products.

[00:06:12]And this STRC Stretch is the one that's finally found product market fit. And because of all the capital that he's pulling into um into strategy with that product, that's been this sort of forcing function for the rest of Wall Street to start launching their own products, bringing things to market and trying to compete with him so that they don't lose a lot of capital to to strategy. Now, we still have a lot of naysayers about the Clarity Act, meaning that if the current version, at least the one we saw last time when they released the text, if the text is a little bit the same as far as becoming a mature blockchain, becoming decentralized, becoming a commodity, everything will start as a security. And people like Charles Hodkinson says that is bad for the industry because if you get a Gary Gendler version two at the SEC, they could use that power and the way that the Clarity Act is written to, you know, have total control over the industry. So there is still a lot to understand and of course once we get the actual text, we can go back through and see if there were any changes made to the mature blockchain status. Now, of course, we did get this. Senator Tom Tillis says he'll push the Clare Act markup after recess. Text coming in the next few days. Of course, uh we'll be looking out for that. It's four to five days before the markup. So hopefully this uh goes off without a hitch and we start moving this forward. Of course, some of the uh issues that we talked about over the last few days were uh the DeFi uh and law enforcement protections, right? We want to uh focus on they were focusing on moneyaundering, terrorism, finance, trafficking, suspicious crypto flows, and so much more. Uh, and we'll see how all of that turns out.

[00:07:45]Congressman Heims said that he won't vote against FISA because of the CBDC ban. Claims he hates it. So, there is this bill moving through Congress now uh that includes a ban on CBDC's. Now, remember, a ban on central bank digital currency is actually a benefit to a company like Ripple. Ripple did launch RLUSD and it's become one of the most compliant and used institutional stable coins here in the United States and abroad. uh not having to compete directly with the Federal Reserve for a digital dollar will help Ripple expand their growth and their reach for RLUSD.

[00:08:21]So, this actually doesn't hurt us in the XRP space. This actually benefits us in a way. Obviously, it would have been great to see some type of wholesale central bank digital currency with the Fed and banks being connected to a blockchain system. I think that would be very bullish for the crypto industry knowing, you know, every retail person in the in the world finding out that the United States's new financial system is built on blockchain. What do you think that would do to the crypto industry?

[00:08:48]Like that is what I would love to see.

[00:08:51]And obviously there is worry about a retail CBDC and given that control in the wrong hands, you could have a massive surveillance tool kind of what happens in uh other places around the world. That is a conversation we should be having. But this is a total ban on CBDC's until I think 2030. And so, you know, that's that's where we are. So, I wanted to give you the the pros and the and the cons there. May 25th is the drop dead date for the Clarity Act. So, Milk Road is saying that at the end of May here, uh if we don't get something done and pushed forward by then, it is over.

[00:09:23]We did talk about 9 to 10 weeks, but it looks like here if they don't even get it out of the uh Senate Banking Committee, then it is probably dead on arrival because there's so many other bills that need to be pushed forward and and for for senators to spend time on.

[00:09:36]Says after the Memorial Day, lawmakers leave Washington to campaign for the midterms and the Clarity Act either moves before then or waits out another election cycle. The Senate Banking Committee was expected to hold markup last Friday. It didn't. Next window, final days of April. E, even insiders from the same firm. Nobody agrees on the odds. Galaxy's Mike Novagrat says Congress passes it in May. Trump signs it in June. Galaxy's own head of research and it says intangible stables of coin. So, Alex Thorne puts the chances at 50%, over a 100 crypto firms signed onto an open letter last week demanding that the committee schedule a markup immediately. Here's what doesn't get said enough. The SEC staff guidance protecting the industry right now isn't statutory. A future administration could revoke it on day one. This is exactly what I've been telling you here over the past few months. This is why institutions here in the United States want to see clarity get signed into law.

[00:10:35]Then it would take an act of Congress, the Senate, to actually uh reverse the law of the land there. And so that is what what they're waiting for. And if we don't get it done, if we don't get some version of the Clarity Act done where they have that version of Clarity themselves, that could stall innovation and growth here for the crypto industry.

[00:10:55]And so we obviously want to keep the momentum going forward. And of course, during this bare market when things are not moving and things are at lower prices, I consider this an absolute godsend and an opportunity to double down and extend my bags. And so, you know, where other people might have left the crypto industry saying it's done, I don't want any part of it. We know that this is the new financial system and if you have the opportunity to buy stuff even 60 70 80% off, that is uh you know just something I cannot uh you know uh I have to act right. I cannot look the other way. I need to build and establish for my future. And uh I I'm excited guys. No clarity act means no floor.

[00:11:37]Everything built since 2025 sits on sand. The bill is close, but close doesn't count. I thought that was a great line there. And of course, Yahoo Finance retweeting Scott Melker's opinion piece here on the Clarity Act.

[00:11:51]Let's go ahead and listen. I'll give you my two cents. Next story. Clarity Act signed into law, but in 2026, 46% chance right now. So, I hate to keep talking about the timeline of the Clarity Act, but it's hard not to because Bernie Mareno just came out and said that it has to be done by the end of May. There's a recess obviously coming in on uh May, I believe it's the 21st when Memorial Day and that's it.

[00:12:18]Our kindergarten senators get to take the summer off. They don't have to work this summer. And when they come back, their job in Congress largely and some senators is to raise money and get reelected. So, they've gone on to say that this will be tabled indefinitely if we do not see it done by May, which is literally impossible. And I will tell you why. It's for this reason right here. Now, ethics concerns could tank the Clarity Act. No I've been saying this for literally months as well. I guess I get to do my second dunk in the dunk contest because it's been driving me absolutely insane watching the crypto media and the mainstream media and everybody get this story wrong talking about how stable coin yield was the reason that the Clarity Act was not going to pass. And I've just kept screaming from any mountaintop that anyone would listen that the real story is the ethics concerns. Democrats are not going to sign into law a bill that allows Donald Trump and his family to launch meme coins and to extract maximum value from DeFi. There will be a clause that says that not cannot be done. Now, I also don't think that Nancy Pelosi and her friends should be able to trade stocks on inside information, but that doesn't mean that all those things need to be in one single bill. The ethics clause is going to kill this because Donald Trump is never going to sign a bill that prevents him from enriching himself in the crypto industry. This is where I disagree with Scott. This was a promise that Trump made to his his base, to the United States of America and and everybody that supports him or doesn't support him. And if if Democrats vote the Clarity Act and it gets to his desk and he refuses to sign it, I mean, that would be even worse for Republicans. So, I disagree with Scott on this point. Let me know what you guys think below. If the ethics portion does get in and it gets to Trump's desk, is he signing the bill?

[00:14:15]You guys let me know.

[00:14:16]>> And it's not only Democrats. Now, the real update is that Tillis from North Carolina, who's a Republican who somehow found his way in the middle of the Clarity Act debate, the Fed Wars chair confirmation. This guy has found his way to being the bridge to things getting done or not getting done many times, but he has said that he will side with the Democrats already on the ethics clause and they need Democrats and Tillis to get this done. I I still say this is dead in the water. That 46% bet looks like free money. And oh, by the way, in case you're wondering, Senator Tillis is from the great state of North Carolina and the North Carolina Bankers Association called Senator Tillis directly to oppose stable coin yield compromise. All right, a lot of stuff you already know. The drama of the Clarity Act continues, guys. We'll see how this all turns out. Make sure that you're subscribed. I'll continue to keep bringing you updates. Thank you so much for your time. As always, let me know down below what you think about all this and I will see you in the next one.

[00:15:12]Aloha. Really quickly, guys, Cryptonires is back open and it is free to join. If you want to keep up to date with all the news and information across the entire space and you don't want to wait for the videos, if you're that person that wants to know everything as it's happening, Cryptonires is going to be a great community for you to grow, learn, and tell your friends about. I'll leave a link down in the description. Let's get back to the content.