NEW CRYPTO CLARITY ACT VERSION TO BE RELEASED NEXT WEEK! SWIFT & BANKS LAUNCH BLOCKCHAIN PAYMENTS!

**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, please be sure to follow and leave a five star rating.
Okay folks, we have a big update around the Clarity Act. So time is of the essence for this bill and Congress is back next week on July 13th. So hopefully they can fast track the process and make some progress. But here's the headline, newest version of the Crypto Clarity Act may drop as soon as next week, sources say.
So here are the details on this article. The US Senate legislation that would regulate the crypto industry is wobbling forward in what are likely its final days as a viable effort for 2026 And advocates expect a new draft could emerge as soon as next week for potential Senate action later in the month. So I think we are going to get some sort of update. Obviously, there's no guarantee that this bill passes. And as I've been saying in the previous podcast, time is of the essence. Our hard date is August 7th because Congress and the Senate, they all go on recess on August 10th. And then come September, it's heading into election season. It's a midterm election year. So everybody's going to be busy. It's going to be hard to get things done. Not that it's impossible for that bill to pass come September or even later in the year, such as December. But the probability decreases significantly just because of the election cycle. But if Congress is able to fast track this and get some things done, this bill could potentially pass the Senate within the next two weeks. And then it goes to the House. And then President Trump signs it into law. So we need to get it out of the Senate. That's the big hurdle. Remember, the House passed the first version of it when it was called a fit 21
So the House is already on board. Now, there are some changes the Senate made, so this updated draft will have to be reviewed and passed in the House, but I don't anticipate any issues there. So the Digital Asset Market Clarity Act has just a few weeks left to advance in the Senate before the chambers, calendar, and wider congressional politics leave. Its chances close to zero. But those briefed on the negotiations say they've seen some headway, including a new text that's come together in the merger of efforts from the two relevant Senate committees, the banking and the agriculture. However, legislative staffers signaled that the effort hasn't yet secured Democratic buy-in it'll need despite much of the latest material representing a response on their concerns. Now, yesterday, I shared the news of Senator Ron Wyden, Democrat out of Oregon, who was backing the DeFi provisions in this bill, which was passed by the Senate Banking Committee. So that's great, but you still have a bunch of other Democrats out there who are very much concerned about the ethics issue with Trump's connection with crypto. So hopefully, they can find a compromise there to get this done, because remember, there is a larger ethics issue with markets. It's not just crypto, there's stocks. Trump is invested in stocks as well, and other members are also doing the same thing with gold and silver and much more. So it's not just a crypto issue, it's a larger ethics issue. So hopefully, they can find a compromise there. So the unified version of the Clarity Act, which is said by one person to have had more than 70 pages of tax added, hasn't yet solidified a position on the major sticking point. A Democrat demanded restriction keeping senior government officials, including the president, from maintaining business ties with the crypto sector. Without a compromise on such ethics limits, several lawmakers have said they won't vote yes on a final bill.
Maybe the compromise guys could be just meme coins. Maybe they say, look, any elected official should not have a meme coin. And I think we can all agree with that. Democrat, Republican, Independent, we can all agree no elected official should have a thing. And from day one, I was critical of the meme coin launched by President Trump and as well as the First Lady Melania. Those are horrible optics, as I've said many times. So hopefully that is enough for the Democrats to say, all right, we're good, let's get it done. And remember Senator Kristen Gillibrand, another Democrat, she introduced a bill just last week that is targeted specifically at meme coins. So maybe they can all agree on meme coins, that's the common ground and we are able to get this bill done, guys. But we'll have to wait and see. The banks are still fighting as well. So lots in our way here. But obviously, there's been a lot of progress made. And I think we have some sort of momentum here, especially that the bill cleared the Senate Banking Committee. Remember, even though the Jamie Dimon was cursing Brian Armstrong out on TV and complaining about the bill sucks and much more, it still made it out the Senate Banking Committee. So I think we have a good chance, but time is not on our side and hopefully, they can figure out the ethics issue. So we shall see.