BIG CRYPTO NEWS! CONGRESS SCHEDULES CLARITY ACT HEARING!

**Tony Edward** (0:05)
Hey everyone, 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. Okay folks, we got a big update around the Clarity Act. So the House Financial Services Committee, this is the House, not the Senate. Now, so don't want you to get confused, the House has scheduled a hearing on July 17th and it's around the Clarity Act. Now, the Bill, the Clarity Act is currently in the Senate. It has to pass the Senate, then it has to go back to the House and pass through that and then go to President Trump for his signatures. So you may ask, why does it have to go back to the House? Because the House passed the FIT 21, which is a version of the Clarity Act last year, it then went to the Senate and the Senate updated the bill, so it has to go back to the House to just get their rubber stamp of approval. I don't anticipate any issues there. Many of you know I've interviewed the Chairman of the House Financial Services Committee, French Hill, many times, and he said, look, we're going to get it through the House. They already got a version out already, right? But the Senate is the big hurdle. It's very, very difficult to get bills through the Senate. But the fact that the House is scheduling this is very, very exciting and bullish because they're anticipating that the bill is going to make it out of the Senate and then go to the House. So we got to get this done, obviously, before the August recess, because nothing is going to happen later this year with the midterm elections. But this is a very positive sign. Obviously, we got a lot more to do, right? But I'll take it, man. Any wins that we can get, I'll take. So here are the details around this hearing. Digital assets, financial technology, and artificial intelligence subcommittee is holding a new field hearing entitled, Building the Feature of Finance, How the Clarity Act Unlocks Innovation, is scheduled for 10 a.m. Eastern, on Friday, July 17th, 2026 So again, we got a lot more to do. Obviously, last week, we heard that the Senate will be holding a lot of emergency meetings around the Clarity Act this week.
I'm going to be interviewing Ron Hammond of the Blockchain Association this week. So I'll try to get some details for you guys, and we'll see what can they do.
Because June is almost over, and Patrick Witt, White House Crypto Advisor, said he has a target date of July 4th. Is it possible that they get it done? Sure. But at this point, there's nothing guaranteed, right?
All of this may end up going towards the end of July. So we shall see what happens, and hopefully, things move in the right direction. And speaking at the White House, we got a report here from Politico that the Trump Administration is working to get bipartisan support for passing the Clarity Act before August recess. So I think Patrick Witt and the team, they're talking to a lot of the Democrats and Republicans, trying to get everybody on the same page to get this push through. Now, we do have some challenges, some roadblocks, such as the ethics issues. Here, we got a report that the Senate Democrats urge Republicans to hold hearings on Trump family crypto ties to Abu Dhabi royalty. So obviously, we have a bigger ethics issue within Congress and all markets, stock market and much more, right? All of Nancy Pelosi and others, right? It's both Democrats and Republicans. This is not a one side thing. They all trade on insider information. So we need a larger ethics bill. But you got Elizabeth Warren and a lot of Democrats who were playing the political game and trying to attack Trump, right? Look, I've said it many times, I wish Trump didn't do all these crypto things because he's putting up roadblocks and he's doing these things that are overshadowing all the great things he did, like firing Gary Gensler, getting everybody on board with crypto, getting helping to get the Genius Act passed, all the work to do with Clarity. People are not seeing that, they're just focusing on the meme coins and World Liberty Financial. So I wish Trump didn't do these things. And I have said many times, I don't believe any elected official should have a meme coin. So this is where we find ourselves. And hopefully, the Republicans can find some sort of common ground and agreement with the Democrats to say, hey, look, let's work on a larger ethics bill, not just something specific to crypto. Because that's the bigger fish to fry. We got to fix that problem. It's not just a crypto thing. But Elizabeth Warren and some of these Democrats are going to use this to their advantage. And let's see, hopefully, we can get past this. Not to mention, Jamie Dimon and the banks are really still up in arms about the stablecoin stuff. We saw Jamie was not happy in that interview with Fox about three weeks ago, where he said, Brian Armstrong is full of shit and much more, right? So we do have some headwinds here, guys. But I'm optimistic that we can make it through and things can keep moving forward.