The White House Has Agreed" | HUGE Crypto CLARITY Act News - Senate Vote Is Coming

[00:00:00]White House said to agree on ethics package for Clarity Act, send language to Republicans. To understand, to grasp how big of news this is, we potentially could be on the Senate floor within days. We have a deadline of like August 7th before the Senate is gone and we might lose the chance to pass this Clarity Act. But to get a sense of how big of a step this is that just broke right now, I wanted I want you to take a look at this very quick clip. This is from Coinbase on the Clarity Act and this was earlier today. Check this out.

[00:00:35]>> bill that that was not in the House bill that Democrats want?

[00:00:40]>> Well, interestingly in the last few weeks and months, we've seen the Democrats obtain meaningful concessions to strengthen the consumer protection provisions of this bill. You have an illicit finance framework that's been created. You have an FTX loophole that's being closed to prevent things like FTX from happening again. You have insider trading safeguards and more disclosure.

[00:01:01]So, really across the board the Democrats have obtained meaningful concessions to make >> So, I want to just remind you as we go through this breaking news, the Democrats have obtained a lot of concessions since this passed the House cuz this passed the House a while ago.

[00:01:15]Now, we need to get it through the Senate to get this thing into law, but they've already gotten a bunch of concessions and the big one as of recently has been this ethics, this topic of ethics. And this is where this news has been breaking. Before we talk about the news, I just want to point out to you because it might not be a coincidence, just the convergence of all of these things. And it's not just Russia. Russia's not the only only country that's moving in terms of crypto legislation, but I saw this headline.

[00:01:41]Russia could legalize crypto tomorrow.

[00:01:43]According to reports, the Russian State Duma is prepared to vote on a def definitive bill tomorrow that would legalize the use of crypto for international trade settlements and cross-border payments. I saw Japan also in news. All of these countries are just kind of just rushing to get kind of the legalization and a framework for crypto.

[00:02:03]And the United States, if this does not get through, is going to be falling behind. So, this headline is a massive headline as we kind of go through this news. So, here is Eleanor. She's kind of breaking the news not too long ago. I'm hearing from multiple industry sources that the White House has agreed on an ethics package for the Clarity Act and sent the language to certain Senate Republicans this afternoon. I'm guessing, you know, Senator Thune is one of them. He would He is the one that will be scheduling the Senate vote for whenever that is going to take place. I don't know. Hopefully, it is days away.

[00:02:35]Hopefully, we do get a Senate vote before August 7th.

[00:02:41]It's still unclear what the details of the agreement are. I've reached out for comment, but industry participants are hopeful this could clear the way for updated bill text to be released soon.

[00:02:53]Democrats had opposed the legislation over concerns that the government official that government officials could profit from crypto holdings. According to the block, the agreement could help secure enough votes to advance the bill before Congress begins its August recess. So, this is massive news, and I want to I I want to kind of bring this together with this news that also just broke almost identically at the same time as everything else. This is David Sacks, former crypto czar, but basically posting Patrick Witt will be staying to take Clarity across the finish line. So, here's Patrick Witt. To To give you a kind of a summation of what's going on here, it was like last week he announced that he's basically, you know, taking a little bit of time off because of I think like a mandatory training that he had for for military. And he's the President's Council of Advisor for Digital Assets, by the way.

[00:03:45]But, he just posted this like hours ago.

[00:03:48]For the past year, I've worked diligently to get the Clarity Act passed, fulfilling President Trump's vision to make the US the crypto capital of the world. Last week, it was reported that I was set to leave for mandatory training as part of my service in the Georgia Army National Guard right before CLARITY hits the Senate floor. While I remain committed to fulfilling my service obligation, I'm 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 and David Sacks for the opportunity to continue this important work and to everyone who reached out last week. Let's finish the job. So, I don't know, man. It just seems like they're like, "Hey, we we need Wait a second. We need to let this guy Let's just Let's put this leave, this mandatory leave for mandatory training, Let's put this on pause for a second.

[00:04:36]Let's get this guy back into play cuz we're trying to close this deal and it's a really big deal, I think. As we are seeing just, you know, Patrick Witt back in play in terms of closing this deal at the confluence of this massive news. And I want to just remind you all. And that is we have all of these companies. Circle CEO talks GENESIS Act, right?

[00:05:01]And and we've had all of these massive companies. We saw this headline. Bank of America hires new executives to lead its global digital asset assets assets platform.

[00:05:10]The positioning of just the world's top firms over the last year has been I mean, if you've been in crypto for for years or cycles now, it's been incredible to see. It really has been.

[00:05:25]And it's just really begs the question like would they be doing this?

[00:05:31]Would they be doing this and positioning and putting all these resources if they didn't think that we're going to get this CLARITY Act passed? Because I'm telling you, the CLARITY Act has meaningful impact on the direction of crypto in the United States of America.

[00:05:47]So, these massive firms that have just been building and building and building, whether that's investing or actually building their teams and infrastructure around crypto, I mean, I just they they wouldn't be doing this if they didn't think this was going to happen. So, this is a really meaningful headline because if this if this new language comes out and this new text comes out and it's enough to bring some Democrats across across the table, right, to vote yes on this, we could be days away from a vote. We'll wait to see what Senator Thune does. If he schedules a vote, that would be absolutely massive news, but we could be really days away.

[00:06:24]So, we go from looking not too good to it's pretty promising because again, I just want to remind you as we started, the Democrats have gotten a lot of concessions, a lot of things that, you know, they want, right, out of out of all of these negotiations. So, let's see what happens.

[00:06:42]I posted this. If you want to see me shave my head, you got to you better subscribe and turn notifications on because I'll be streaming the Senate votes. If CLARITY Act gets passed by August deadline, I'll shave my head.

[00:06:52]This was hours before all of this came out cuz I'm like, "Dude, this ain't happening. This is looking terrible."

[00:06:57]And then boom, I post that. It's like all I needed to do is post this. And by the way, my wife said she'll do it on the live stream after Senate vote if it's passed. So, that's what we'll do.

[00:07:06]I'll shave my head. If it really get Dude, imagine we're doing a live stream of the Senate vote and CLARITY passes, it's awesome, man. And I'll be I'll be shaving my head now, I guess. I mean, I just I nonchalantly put this post out. I I just didn't think I don't know. I've been losing my optimism about CLARITY Act, but whatever, we'll have some fun with it either way. So, this is an update on the news, everybody.

[00:07:27]Appreciate you cruising through. Hit the subscribe, especially if you want to see me shave my head. And smash that like if you got any value from the video. I'll see you in the next video. God bless.