US Government INSIDER REVEALS Who is SECRETLY SABOTAGING Bitcoin?! | EP 1544

**SPEAKER_1** (0:02)
The Strategic Bitcoin Reserve and the Clarity Act are the two catalysts that most people believe Bitcoin needs before exploding higher. Well, this week, we did get an update on the SBR. And then yesterday, an insider at the CFTC just revealed what and who is blocking the Clarity Act. So let's watch the clip. I will break this down for you guys. We did get some more updates on this this morning. So a lot to unpack here with the Clarity Act. But let's watch the CFTC Chair, Mike Selig, on the Clarity Act.

**Mike Selig** (0:41)
We're so close. We have to get this done. It's absolutely critical that we have federal standards for crypto assets. And right now, we've dealt with a patchwork of state laws and regulations, and it's really been bad for business here in the United States. We want to get this done so that we have certainty, clarity, consumer protection should be a bipartisan issue. We've got to get it across the line.

**SPEAKER_3** (1:00)
Is it that the Democrats are stopping the progress because of ethics issues and trying to get specific language in there about President Trump and his family in crypto?

**Mike Selig** (1:11)
Well, there's certainly some mission creep beyond what's really critical here. We want to set standards and protect consumers, protect investors, and that's something that Democrats and Republicans should be able to get behind. I do think there's a little bit of this creep into ethics and other types of extremist issues, and they're just derailing this real opportunity to have a bipartisan bill in place. Otherwise, you end up with regulators like me writing all the rules, and I'm sure all the Democrats would prefer to get something in place that's bipartisan.

**SPEAKER_1** (1:39)
Okay, so let's read between the lines. And I think I have to do the Nico caveat, even though he's not here. You know, it's not a monolithic entity on the left. The Democrats aren't a monolithic entity, and I will unpack that a little bit. But paraphrasing a little bit here, again, reading between the lines, CFTC Chair Mike Selig basically just said, it's the Democrats that are derailing the Clarity Act. And we've been covering this for a while. We've seen a lot of breadcrumbs, you know, a trail of this happening. And I think as we get closer to these Clarity Act deadlines, I do have basically the best update on what the schedule looks like for the Clarity Act. We can all pinpoint one group of people. And again, I will give Nico credit for this. I think he was the first one to basically say it. It was, it seems like it's the Elizabeth Warren camp that is really holding up the Clarity Act. Now, whether you like it or not, whether we really even know what's in the Clarity Act yet, like we've heard some ideas, there's been a lot of talk of what's gonna go in. It's really not a quote Bitcoin bill. There's a couple of things that might be good for Bitcoiners, but overall, personally, it doesn't seem like the best bill in general. Excuse me. I gotta really stop drinking water right before I start the show. But it does, I think, would be one of the catalysts for seeing a lot of capital enter into the market, for the most part. And I think this is probably where the conversation lies, is for the most part, when investors, when people that are looking to allocate capital, look at Bitcoin, they still view it as this Wild West thing. It's still like Gunho, there's no laws over there. I know it's not going away, but it's also, I don't feel that comfortable investing a significant amount of capital into that space, into that quote industry yet. Yes, there's been some front runners, some early adopters, AKA like the Black Rocks and the Morgan Sandleys and the Goldman Sachs and Charles Schwab, et cetera. They planted their flags like this thing isn't going away. We need to launch these products now. But for the majority of people, they still look at what we're doing over here as just like magic Internet money. It's still the Wild West, like I said, it's still just filled with criminals and fraudsters and scammers, which to be fair, they're not totally wrong in regards to the entire crypto ecosystem.
But they're waiting for the rules to come out before, at least that's what everyone's saying. There's what I forget what the numbers were billions, trillions of dollars waiting on the sidelines for when the Clarity Act passes. At least that is the common rumor here. At least personally, as someone just tweeted me on Twitter, I will lean into, hey, I would love for that to happen. I am falling in the fooled me once, shame on you, can't fool me again camp where I'm like, I've heard this before. We've been hearing this for years, that the institutions are just waiting to get into Bitcoin. They're going to save the bear market. What year is it? I think where we were rehashing these ideas in 2020, took five, six years for that to happen. So at this point, if it does happen, if this is the catalyst for a lot of capital to come into Bitcoin, then hey, I'm totally okay with them pumping our bags. I want number to go up. And as I was saying on Twitter, and saying it on the show, I'm very transparent on that. Yes, I want number to go up. It's not the only thing I care about, but something and someone has to fund the revolution. And we, guys, we can't be broke here. We can't be broke revolutionaries. We've seen this play out in the past. It doesn't end well for us, all right? We need capital. We need to have some working capital to really change the world. And I think that's why everyone that are tentatively bullish on the Clarity Act even care about it. That's probably why we're talking. That's why I'm talking about it. I'm like, okay, look, this is what people are saying. People are waiting for the Clarity Act to go through. We know this is one of the big headlines. We know we've been waiting for what? Six months or something for it to get through. They've been deliberating over the particular words. Keeps getting delayed. Now we are getting to the point where basically if it doesn't get passed by August, it's probably not gonna happen. But anyway, enough rambling about the context of why this even matters. Again, what did he say in that clip? The CFTC chair. There's actually two things that he said. One, the Democrats are derailing this. He didn't in particular pinpoint anyone, which is probably a political tool.