ALERT! CLARITY ACT MAY PASS NEXT WEEK!? HUGE MASTERCARD STABLECOIN NEWS!

**Tony Edward** (0:04)
Hey folks, welcome into the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. I'm your host Tony Edward. On your way in, please hit that subscribe button, as well as the thumbs up button, and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please be sure to follow and leave a five-star rating. Alright folks, the Clarity Act drama continues. So we are not in a good spot, but however, we're getting reports that there's a glimmer of hope that this bill is not 100% dead yet, even though the chances are very slim. So we're getting reports from folks at Punchbowl News that some negotiations are still going on. And even Senator Thune, who's playing a big part of this, is saying the fact that we are in this position, it's kind of a train wreck. Those were his words. So I think rightfully so, it is a train wreck, right? It's a mess. However, there are other bills in the Senate that have to be voted on. And what we heard is from Ryan Rossi, from saying his name right. He handles communications for Senator Thune. So what he said is that the other bills, not related to Clarity, that if they don't get this done by this week, it could spill into next week. So it looks like the August recess could be pushed back a bit, not entirely canceled. So that keeps the door open for the Clarity Act to pass. Now, I'm not expecting it to completely pass the Senate. I'm just anticipating a closure vote. And Senator Toon today did not file for that closure. So if these other bills are also having issues, right, the Save America Act and there's some other ones as well, it could push the timeline back that the Senate will still be working next week. So that gives a little bit of an opening here for the Clarity Act. Not to mention, we got a report that the White House is now engaging in talks regarding the recent bipartisan ethics language that was sent over to President Trump and his team.
So some dialogue, some momentum, potentially a window opening here because of other bills are getting delayed and it's gonna have to spill into next week. Now again, I'm not saying the bill is gonna pass. The chances are very slim and there's a lot of fighting going on. In fact, we got reports here that a Republican Senator, Josh Hawley, who's a Republican out of Montana, it looks like, if I'm not mistaken, he's voting no in the Clarity Act. And his concerns are with the banking stablecoin yield items. So the banking lobby is at work here, right? That's the banking cash coming in. So it's not just Democrats, it's not just the ethics issue, it's also the banks fighting hard. And if you have some Republicans backing out, that may not be good. However, like I said, there's still an opportunity here. So let's see what they're able to come up with. Let's see if this spills over into next week. And maybe we can at least get the cloture vote done.
This way, when they all come back in September, they can get this out of the Senate, they can send it over to the House for it to pass there and go to President Trump for signatures. Now, I know some of you are already dismayed, saying it's not going to happen. And I'm not saying it will happen. But there's a slight chance here, right? So let's see what happens. And it's rough. It's rough, right? We were hoping this bill would have passed already. In fact, we were hoping, just like the Genius Act, it would be making its way to President Trump in August, right? To be signed into law. But unfortunately, we're not there yet. There are a lot of headwinds that this bill is facing. And you know, it's the ethics stuff with Trump and the meme coin.
It's the banking lobby. They are not giving up. So even if the Trump meme coin wasn't an issue, the banking lobby, they're not going down without a fight, guys. Remember, they want to keep those big bonuses. They already got a compromise on stablecoin yield. And they're still fighting. They still want more, right?
Not to mention they're fighting DeFi as well. So the incumbents, the tri-fi incumbents are not giving up without a fight. And what's interesting, with the backdrop of the Clarity Act, you have Russia's President Putin has signed a law providing comprehensive regulation for digital assets and rights for investors. Here's a quote, the legislation governs the organization, accounting and custody of digital currencies and foreign digital instruments. So we've been seeing their respective crypto legislation make its way through their government process, and now it's been signed into law. This should be happening in the United States, but unfortunately, we can't get out of our own way, and it's a mess. Look, do I think that there will be a Clarity Act passed this year? Yes, I think we will get it done this year. It's just going to be a hard, hard fight to get it to that point. And look, there's a chance it may not happen, but I'm going to lean on the higher probability that it does happen. Now, what's interesting, the price of Bitcoin is not really reacting to the negative news around the Clarity Act. You know, I put out a newsletter right up today where I said, could this already be priced in? That the market already priced in, that no vote would be happening in the Senate, and that this bill would be stalled.