HUGE! SENATE PASSES BAN ON CBDCS! CLARITY ACT NEXT? MAJOR TRADFI CRYPTO ADOPTION!

**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 have huge news coming out of the US Senate. They have officially passed the anti-CBDC ban. And this is significant, very, very good. However, the devil's in the details because the ban is only until the middle of 2029 Remember, it was previously in 2030 Well, they moved that date up. And I warned you guys about this, right? We got to watch out because people are going to forget. And then come 2029, they'll probably do it. They won't make a big spectacle out of it. And they could launch that CBDC.
And look, I know some people are going to say, Tony, what about stable coins? And yes, we do have to worry about stable coins. I recently interviewed Chris Giancarlo, former CFTC chairman. And he said, look, privacy is an issue with stable coins. They can do the same thing. And it's the same type of programmability, potentially. So we have to be vigilant here, guys, because they're going to try to take away our rights. And that's not hyperbole. We've seen it with the Patriot Act and the NSA and much more. So they're leaving a door open to create a CBDC.
So the Senate passed it. You know, surprisingly, I didn't think they would be able to get this done, but it's officially, you know, CBDCs are banned. Apparently, the bill does have to go to the House. It's kind of the similar path that the Clarity Act would have to go to. Once the Clarity Act passes, the Senate, it then goes to the House to pass, and then it goes to President Trump for signature. So the vote to pass this was 85 to five. And again, it's now heading for the House for consideration this week. So with regards to the Clarity Act, now that we're seeing the Senate is moving and getting things done, we heard they're going to do some emergency meetings this week. Let's hope they can get the ball rolling on the Clarity Act and we can get that done because the deadline is coming up July 4th. And look, it's not that's not a hard date. The actual hard date is right before Congress goes on August recess. But the folks that stand with crypto, you know, today, they put out that the Senate is going to adjourn for recess next week. And the Clarity Act vote does not have a scheduled vote.
They said here, tell your senator to bring it to the floor. No more delays. Vote before recess.
So it's not looking good. But again, some positive signs that the Senate is acting to even pass the bill relating to housing and mortgages and that, you know, single family homes can be purchased by big time investors and so forth. So we're seeing some action. So maybe, maybe, fingers crossed, they can get something done here. Now speaking of legislation, the Blockchain Association, Crypto Council for Innovation and the Digital Chamber are urging Congress to pass crypto mining and staking tax bill without revisions, warning that reopening the compromise could risk stalling a bipartisan result finally within reach. So this is another potential bill. I don't know if this is the Parity Act. They don't give the details here, but look, as many bills as they can get in past, it would be really great for the crypto industry, right? Because time is of the essence and it's a midterm election year. So you guys know nothing is going to get done come this fall. So even if they're not able to get the Clarity Act done, the SEC and the CFDC, they're putting out rulemaking. You have these smaller bills are getting pushed through. So let's see what happens, folks. We got a lot of work to do here. Now President Trump signed two executive orders aimed at accelerating US quantum computing development and transitioning federal systems to post quantum cryptography by 2031
Now, I know this is not specifically a crypto news item, but it's related because as I've been discussing in the news and as well as having guests on the podcast talking about it, we got blockchains are getting their quantum resistance strategy together. So everybody is trying to get their hardware, their software, their code up to par, preparing for quantum. And obviously countries as a whole have to do this. And, you know, I'm sure there's going to be shared learnings among the industry. So this is very, very good. Now, folks, crypto adoption by massive institutions continues to surge. Here we have news that 118 year old Scottish investment firm, Baillie Gifford, if I'm saying that right, has launched a tokenized corporate bond fund on Ethereum and Solana, offering 7% yield with BNY, BNY Merlin, providing the tokenization infrastructure.