Clarity Act Senate Debacle! BlackRock New Tokenized Funds, BNY Crypto Staking, & BTC Coldcard Hack!

**Tony Edward** (0:00)
Vladimir Putin, they signed their crypto legislation into law just yesterday. It's kind of surreal, like Russia's getting this done, but we can't get it done. I mean, what's happening?

**Amanda** (0:09)
You would think that would put the pressure on, because we all know President Trump doesn't like to be behind these other countries. And yeah, I don't know if that's clickbait, but it seems to be happening everywhere else but here.

**Tony Edward** (0:27)
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Hey, folks, welcome into the Thinking Crypto Podcast Crypto Water Cooler series where Amanda and I dive into the latest crypto news so you can have an update as to what's happening in this crypto landscape. Amanda, great to see you.

**Amanda** (3:02)
Great to see you. Episode 10

**Tony Edward** (3:05)
Yeah, and it's a packed one. We have lots to talk about. Huge TradFi Adoption News, but also lots of problem with the Clarity Act.
Amanda, this bill seems stuck. It seems like it's not going to happen. We got one more day left. The White House supposedly, the reports are coming out that they're re-engaging on those ethics talks for the updated bipartisan ethics language. But then Senator Josh Hawley came out and said, I'm not voting for this bill until the bank stable coin yield situation is resolved. So a lot of headwinds here.

**Amanda** (3:37)
Yeah, there certainly is. The crypto industry, as you know, has spent years begging Washington for rules. The second legislation became politically difficult, and I blame much of it to crypto Twitter. We stopped talking about the actual contents of the bill, and we started arguing over Trump and ethics provisions and meme coins and partisan narratives. Meanwhile, the institutions that actually need legal certainty, your banks, your asset managers, your pension funds, they don't care about any of that. They just want the rules.
I tweeted this this morning. It's like your loudest voices are accidentally making the legislation about personalities, and we need to get back to market structure. I worry because of the timeline.

**Tony Edward** (4:20)
Yeah. This is a really tough spot to be in because Amanda, if the August recess is coming up, supposedly, the Senate is going out as of tomorrow or I should say August 10th, but tomorrow will be their last day in office.