NO CLARITY ACT? NO ISSUE! SEC & CFTC WILL UNLOCK THE CRYPTO BULL RUN! BIG BANK BITCOIN & ETH CUSTODY!

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. Well, folks, we have to talk about the Fed and the markets, because today we heard from Fed Chair Kevin Warsh. I was about to say Jerome Powell after years of saying Jerome Powell, but Kevin Warsh came out and said, the Fed is going to raise rates by 25 basis points. Now this is the first increase since 2023, and I was honestly thinking they would not do this, especially ahead of the midterm elections. But guys, the important factor here is that the market is holding up really well. We got a rate increase from the Fed. Yesterday, the Clarity Act failed to pass, and yet the market is still holding up. I mean, let's be real, right? We've seen the market dump on news like this, depending on the conditions, but it is holding up. Bitcoin is over $76,000. There was no major crash, you know, a $5,000 price depreciation at the announcement of the Fed rate hike. It's incredible. So this is very good.

I do think we've turned the corner into a bull market, as we've been talking about. And as we've been tracking on the weekly chart, there is a bullish divergence playing out. So again, there's a saying, show me the charts and I'll tell you the news. So despite the short-term cooldown we're seeing in the market, the higher time frame is still very bullish. In fact, the MACD on the weekly chart shows that the bulls are still in control, the RSI is in the neutral zone, so it has room to run and it has broken out of that downtrend, guys. So the bullish divergence is playing out here. And then the inverse of that on the stablecoin liquidity, which is the USDT dominance, the bearish divergence is playing out. And on the weekly still has room to dump lower. So again, you're seeing the inverse correlation. So you have confirmation on both fronts. So this is very good. The market absorbed the Clariac failing to pass and the Fed rate hikes. That's a very good sign. The bearers should be very worried that the market is showing this type of strength. Now, let's move ahead, guys, because today the SEC and the CFTC both came out with statements saying, you know what? No Clariac, no problem. We are about to hit the pedal and ramp up our efforts to provide crypto rulemaking. And we've seen a lot of this already. The SEC has been doing a lot. They put out the red crypto legislation, which is huge. The CFTC has been doing a lot as well. Here's what SEC Chair Paul Atkins posted on X.

Many thanks go to everyone who put so much effort into the Clarity Act across the administration, Congress, investors and innovators. Our collective conviction that America must continue to lead is indispensable. I have been unequivocal with or without legislation. We will act decisively within the SEC's statutory authority to deliver certainty for American investors and for the entrepreneurs shaping our technological future. Stay tuned. And then the main SEC account retweet that with an eye emoji saying stay tuned. So, you know, they're about to release more legislation.

And I think they're going to ramp up again.

This is actually more important than the Clarity Act, because remember, as we've talked about ad nauseam, these agencies are the one that provide the detail of rulemaking. So let's say the Clarity Act was passed, the SEC still has to provide the rulemaking. And remember, they are the ones that enforce it, not Congress. The SEC is the one that goes after you and sends a Wells Notice and lawsuit, not Congress, right? We saw this on the Gary Gensler days. So the fact that the regulators are saying, here's the guidance, that is very good, very bullish. And obviously, we need the Clarity Act to pass to make sure these things become ironclad, so that a future administration can come in and roll it back, right? That's the point of the Clarity Act. It's also an optical thing, right? It gives the optics that, hey, the United States has legislation in place, everybody can now go ahead and build, even though those paying attention can use what the SEC is saying and the CFTC to get things done. Now, here's what CFTC Chair Seelig had to say regarding the Clarity Act and the rulemaking. He said, the outcome of yesterday's Senate vote was unfortunate. Americans deserve regulatory clarity, legal certainty and consumer protections in crypto asset markets. President Trump promised to deliver a future-proof crypto asset regulatory market structure one way or the other, and we will help him to get the job done using our existing statutory authorities. The US is and will remain the crypto capital of the world. The CFTC is locked in and ready to ship its rules for the new frontier of finance.