HUGE TRADFI CRYPTO ADOPTION! BLACKROCK CEO BULLISH & CLARITY ACT MAY NOT PASS!

**Tony Edward** (0:05)
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 or wherever you get your podcasts, be sure to follow and leave a five star rating. All right folks, we have a lot to talk about. Let's start with the Clarity Act because the odds of the Clarity Act passing are dropping on the polymarket betting prediction market platform. So on polymarket, the odds of the Crypto Clarity Act passing hit an all time low as Congress met to discuss the bill today. And right now it's at a 31 percent, so not looking too good. Now, I'm not going to treat this as gospel as this is the absolute truth, right? Because things could certainly turn the other way. We've seen a lot of ebbs and flows with this process. Going back to the Genius Act, even when the version of the bill was in the house, and speaking of the house, the House Financial Services Committee met today to discuss the Clarity Act and the passing of the FIT 21 bill, that version last year, and essentially trying to get people on board. Now, this is the house. The problem is we need to get it out of the Senate. I don't believe there's going to be any problems in the house once the bill passes the Senate and it goes back to the house because they passed a version of it already. So, you had Congressman French, Sheila Bryan-Style and many others meeting today to discuss it. Definitely needed to get everybody on the same page, but again, we needed to pass in the Senate. The house is not the big deal, honestly, because it's already done. Now, yesterday, President Trump supposedly met with some Republican senators to talk about the Clarity Act. So, I'm not sure what the details are. We haven't gotten details as to what was discussed. It could be they're trying to find a compromise that the Democrats would agree on with regards to ethics, because that is a big, big issue. That's the biggest headwind we have right now.
At one point, it was just the banks and the stablecoin yield. Now, it's all ethics, right? Trump's disclosure of how much money he's made, the meme coins and all that stuff, which is a horrible look for any elected official, that is, of course, weighing heavy. And I don't know if they're going to find some sort of compromise that the Democrats agree with to get this bill done. But nevertheless, hopefully, guys, things move in the right direction and we get some progress. It's important to note that next week, a updated draft of the bill will be introduced. So maybe that will include the ethics piece or address some parts of the ethics concern, and that could help get the bill to move forward because time is running out, of course. And we're seeing across the globe, folks, that crypto regulation is being put forth by many countries and jurisdictions. Here we have an update from Japan. So Japan reclassifies crypto as a financial asset, paves the way for tax cuts.
So it seems like almost every week, I'm sharing a major update from different parts of the world regarding crypto legislation, which is very good, of course. So Japan reclassified cryptocurrencies as financial instruments, a structural shift that establishes the legal framework for separate taxation of crypto assets and for future crypto exchange traded funds, ETFs. The legislation approved by Parliament on Wednesday amends the Financial Instruments and Exchange Act and the Payment Services Act. It shifts crypto from a framework in which it was primarily treated as a payment tool to one that treats it as an investment alongside other financial instruments. The new rules are expected to take effect in 2027
Huge news, all the countries, all the TradFi institutions globally are headed in the same direction.
Speaking of TradFi, Larry Fink, CEO of BlackRock, the world's largest asset manager, made his way onto CNBC this weekend.
I often say that when you see Larry on TV, and he's talking about crypto, it usually precedes a pump. And of course, the charts are looking pretty good, with Bitcoin potentially going to $72,000. The ETH Bitcoin chart is breaking out. The bullish divergence on the Bitcoin weekly chart. All these things are looking good. So Larry Fink said he's no longer concerned about excessive leverage in Bitcoin and crypto markets, adding that he's very bullish on markets over the next 12 months. So he's talking about crypto and the other markets as well. So I don't think the timing of this is just a coincidence, I think Larry is preparing for the rally and essentially he gave a 12-month timeline. So the bottom we know is near, if not already in. So crypto is going to start to enter an uptrend. And again, the macro view, right? He's looking at from a 12-month perspective, not a five-day, one-month perspective. So please understand the context here. And I think the timing, he and his folks at BlackRock are, of course, looking at the charts. They know what's coming.