PREPARE! CLARITY ACT UPDATES ARE HAPPENING NOW TO PASS THE BILL! BIG RIPPLE XRP RLUSD NEWS!

**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. All right, folks, we've got to start with some big updates around the Clarity Act. We know this coming week is going to be massive for the crypto industry. The vote for the Clarity Act will be on Tuesday, September 15th. You may have caught my interview with Ron Hammond that was published earlier this morning. Make sure you catch that. He goes to a lot of the details. But here's what White House crypto director, Patrick Witt, posted today on X. Bad day to be a Clarity Act doomer. So there's a lot of negotiations and work being done. The Midnight Oil is burning here ahead of the vote on Tuesday. Now, again, in my conversation with Ron Hammond that was published this morning, he talked about phase one is getting the cloture vote done. That is essentially a vote to say we can move the bill to the Senate floor for a full Senate floor vote. So it's a sausage making process, right? So we need to cloture vote to get done. And then he said literally they could do it the same day. They can take it to the floor and get it passed. Now, will that happen? We don't know. You know, right now, the odds are not looking too great. But the fact that we are having negotiations happening on the weekend and even billionaire investor Mike Novogratz, he posted the following today on X. Clarity isn't dead. Lots of negotiating over the weekend. My instinct is the bill makes it to the floor. It all depends on if we get the White House to move on ethics, to see if we get a law. So we could potentially see the White House provide the updated ethics agreement on Monday, back to the Senate, and that could be put into the updated bill, and that would maybe suffice for the Democrats. Now, it's important to note that Mike Novogratz, he is a Democrat, he's highly connected to people in Washington, DC., especially many of the Democrat senators. So this is very good that you're seeing this message coming from what I would call the Democrat camp, right? And of course, Patrick Witt, with his statement that it's a bad day to be a Clarity Act doomer. Now, also Brian Armstrong, CEO of Coinbase, just a couple of days ago was saying the Clarity Act is right at the finish line, and he's expecting it to get done, especially with the backdrop of the rest of the G20 countries have already gotten legislation like this live, so it's time for the US to do it. Now, it's very important for Brian to come out and say this because we know Coinbase has been joined at the hip when it comes to the stablecoin yield situation versus the banks, right? Remember, Jamie Dimon cursed him out. There's been a lot of back and forth. So Coinbase is essentially the figurehead for the stablecoin yield situation, even though they're not the only one offering stablecoin yield. But nevertheless, Brian coming out and saying these statements is very good. Plus, Coinbase made the major chest move on Thursday, announcing they've partnered with a company called Move to boost community bank stablecoin capabilities. So they can go to the table and say, hey, look, we are working with community banks and credit unions now to help them get access to stablecoin. So this is not a monopoly here. And if they choose to, they can do this. So this can really help put to bed what the banks have been fighting about. And then, like I mentioned before, the ethics piece, we need to get that from the White House. And I think we're going to be good. That really increases our chances of getting the bill pass. So let's see, folks.
It's not guaranteed. I know there's a lot of people are probably going to be in the comment section saying this bill is dead. It's not going to pass. It's going to pass till 2030
Nobody knows. But I can only report the facts, right? Not in my gut feeling, in my opinion, but what is actually happening? What are the people who are working on these things saying, right? So again, it looks like they're burning a midnight oil here, getting some things done on the weekend. And let's see what happens on Tuesday. Now, another crypto legislation item that's happening this week, which is kind of flying under radar, the US. House Ways and Means Committee scheduled a September 16th markup for crypto tax rules, according to Bloomberg. So this is the Parity Act. So this is very important, not as important as the Clarity Act, but once the Clarity Act is through, you need to provide the tax guidelines that will help open up adoption. So they kind of go hand in hand, but obviously the Clarity Act is the 800-pound gorilla in the room, right? So this is going to be a big week, guys. We could see some key legislation make it through here. Now, I want to remind you guys that even if the Clarity Act passes the Senate, we may not have time for it to go to the House due to lack of session time at the end of the month, but maybe they pull it through. You know, we'll have to wait and see. But let's see, this week could be really nice for us, guys. And if they're able to get this Clarity Act done, you're going to see a God candle print on the Bitcoin chart. And of course, all coins are going to follow. So let's see what happens.