The Strategic Bitcoin Reserve FIGHT is SPREADING To The Rest of The World! | Simply SatoSHE

**Sophía** (0:00)
While everyone is focused on America dragging their heels on the Clarity Act, look at what's spreading around the world. Russia, Japan, Taiwan, three major countries passed Bitcoin and crypto laws this week. One of them is the country that America is actively trying to sanction. And this morning, breaking news, Senate Majority Leader Thune just confirmed the Clarity Act will get a vote before the August recess. The biggest countries in the world are not waiting for America. The question is whether Congress is about to be too late. Welcome back to Satoshi. Let's get into it.
Before I get into it, if you're new here, hello. Smash the like button, hit the subscribe, and share the show with someone who needs to see it today. Okay, this week dropped this morning, and this is what I want to react to first. Leader John Thune is still likely to bring this wider crypto bill up for a vote ahead of the August recess, whether or not it can pass to get members on the record for where they stand. But at this point, a lot of work is going to need to be done for the bill to get the required 60 votes, and they do not have much time left. Guys?

**Melissa** (1:12)
Yeah, there is that deadline of the August recess, Emily. And then you've got the midterms, which are pretty much around the corner in November, which plays into the game. I mean, if the Senate loses, Republicans lose some seats there, Democrats gain in the House, that changes the landscape for this bill, doesn't it?

**Sophía** (1:30)
It absolutely does, Melissa. Look, there are Democrats who do say that they want to see regulations around crypto pass, that they are supportive of the crypto industry. But the fact of the matter is that, if you look at where those folks stand, Republicans versus Democrats, it's been a much bigger priority on the Republican side than the Democratic side. And I think if you do see a divided government next year, you're going to see a lot of focus on Democrats investigating the Trump administration, probably less on moving through some of these major pieces of legislation. Okay, this is Congressman Thun. It's been confirmed by CNBC, the Clarity Act is going to the Senate floor. And I want to talk about why the words one shot in that tweet are not hyperbole. Because here's the thing that's not in that tweet, the thing that doesn't make the breaking news headline. If this bill doesn't pass before August recess or at the very latest in September, it does not come back the same way. Midterm elections are in November. Control of the Senate could change. It very well might change actually with the way that everything is going. Every Democrat who might cross the aisle to vote yes has a different calculation to make after election season. And every Republican who votes no gets to hide behind the result. We're talking about a window that is now measured in days, not weeks, but days. And while Congress has been running out the clock on this, the rest of the world has been moving. Let me show you exactly what I mean.
July 21st, only a few days ago, Russia's state Duma passed the first comprehensive crypto law. Bitcoin is now legally recognized as property in Russia, which is crazy. If you would have told anyone this in the 1950s, they would have called you nuts. And here's the part that you need to sit with. The law explicitly creates a pathway for Russian companies to pay foreign partners in Bitcoin, to root around Western sanctions. Russia, the country that the US Senate is about to vote on new sanctions for, just built legal infrastructure to use Bitcoin to ignore those sanctions. Think about what that means. America invented most of the financial infrastructure that the rest of the world uses and that Russia is now bypassing. America was the first country to see significant Bitcoin ETF inflows. America has the largest concentration of Bitcoin holders in the world. And we're letting the country, we're sanctioning, write the rule book on how to use Bitcoin in international trade before we've written our own. Just last year, a clip surfaced showing Russia's PM talking about how the US planned to rewrite the national debt off with a crypto check. Check this video out.

**SPEAKER_3** (4:20)
America is trying to change the rules on the market of gold and crypto currency. Remember what their debt is. $35 trillion. In general, these are two alternative currency segments of the world market. Washington's actions in this direction clearly demonstrate one of the main American tasks. They really want to solve the problem of the decrease of trust in the dollar. The US, as it was in the 1930s and 1970s, will solve their financial problems by the account of the whole world, driving everyone into the cryptocurrency cloud. In time, when part of the US state debt will be placed in stable coins, The US will devalue this debt. Once again, simply, they have now...