The $39T Bitcoin RESET is getting closer... | EP 1550

**Bitvolt** (0:01)
The biggest piece of Bitcoin regulation looks to be days away from passing in America. And Donald Trump had a closed door meeting yesterday surrounding the Clarity Act with Senate Republicans. We also got a flood of clips today coming from key witnesses and government insiders about the Clarity Act, which it's basically gonna be the entire show today.
And we did get an update on the Genius Act this week from Kevin Warsh, the new Fed chair, which if you don't remember, Putin's economic advisor said the US was using to reset its $39 trillion of debt. There's only days left before the Clarity Act deadline. And we got a lot of interesting headlines for you today, but let's start with this clip. It's a short one. And I think it really, it adds the kind of the pressure that we're seeing right now and the last minute push that we're seeing to get the Clarity Act through.

**SPEAKER_2** (1:02)
It's incredibly important in maintaining the US economy as the center of the global economy. Do you agree with that?

**SPEAKER_3** (1:11)
Yeah, I mean, to the extent that this is going to be a technology that is infused into the businesses of all these other witnesses here, like it is imperative that that be within the structures, just like our securities markets are, just like our derivatives markets are, right? I think part of the reason of their success over the years has been the regulatory environment in which they get to operate.

**SPEAKER_2** (1:29)
Thank you for that. We're on the one yard line. I just got to score the touchdown. With that, I yield back. Thank you.

**Bitvolt** (1:35)
So there you hear it, at the one yard line, and the touchdown, I guess, at least from what I'm seeing from this field hearing this morning, or rather, it like just finished, I believe before the show started, it looks like they are very bullish on getting this through. Anyways, what am I talking about? So there was a field hearing today. I think it started at 10 a.m. It pretty much wrapped up right before we went live. If you're on Twitter this morning, there's a bunch of clips coming out of it.
Some people are a little more probably favorable than I am. I did hear a little shit coin stuff in there, but hey, you know, this is what the Clarity Act is probably going to do. It's about digital assets at large, not just Bitcoin itself. But the Fed, sorry, the US State House Committee on Financial Services this morning had a field hearing entitled, quote, Building the Future of Finance, How the Clarity Act Unlocks Innovation. And you can see here, the legislation is for expressing support for blockchain technology and digital assets and covering the American Reserve Modernization Act, which is of course, Nick Begich, the representative from Alaska, who's essentially trying to codify that the US is going to buy a bunch of Bitcoin. So that's what we're hearing this morning.
There is a little bit of nuance here, where from what I was seeing, this is obviously not going to necessarily influence Senate's view or approval of the Clarity Act passing, because that's what's going on. The House passed their version of the Clarity Act.
Actually, the House passed the Clarity Act. Now, it's going to go to the Senate, and this is where all the deliberation is happening. From what I heard and from the clips that I saw, apparently there was no Democratic representative at this field hearing. There was a few Republican representatives there. So again, this might and might not necessarily influence what we see from the Senate, but from all of the testimonials we saw and that I saw, they're very bullish on this going through. I actually have a clip for you guys in the numbers that is probably the most bullish clip coming from a representative. I don't know how to say his name. I think it's Style or Steel.
He's extremely bullish that this is gonna happen. Anyways, moving forward, giving you a little bit of update of what was actually said and what the conversations were about. Here's Connor Brown from the Bitcoin Policy Institute. And he goes, update the ARMA or the American Reserve Modernization Act continues the progress through Congress. Today, the Financial Service Committee is holding a hearing on ARMA and Clarity. And this marks the first time that a strategic Bitcoin Reserve bill has been considered by a federal congressional committee. And of course, BPI will continue to update us. So, big day in terms of Bitcoin and Washington DC. And here, let me pull back what Senator Lummis was tweeting this morning. She goes, check certainty for developers, check protection for investors, check integrity for markets, digital asset legislation should deliver all three, and the Clarity Act does. So, Senator Lummis has been on the beat for a long time.