Less Regulations Coming!

[bbc.reporter]

@zasad@. You are correct. This will be tested again and it appears that the Polymarket rating is predicting that the passage of the Clarity act is not very optimistic.

Also, news update. We might not like this bill if this becomes law. I do not like the information being mentioned in this article.



Almost everyone agrees that crypto regulation is overdue. But as the bill moves toward a vote on the Senate floor, it contains five gaps that threaten to undermine the very structure and stability the legislation otherwise hopes to deliver.

A platform or intermediary that moves, exchanges, conceals, or otherwise facilitates the transfer of value should not be able to avoid oversight simply by calling itself “decentralized.” These are exactly the blind spots Congress needs to close: when a digital asset platform or intermediary performs financial functions, it should be subject to appropriate anti-money laundering and sanctions safeguards.

Read in full https://www.coindesk.com/opinion/2026/06/09/5-corruption-gaps-congress-must-close-in-the-clarity-act

[zasad@]

@zasad@. You are correct. This will be tested again and it appears that the Polymarket rating is predicting that the passage of the Clarity act is not very optimistic.

Also, news update. We might not like this bill if this becomes law. I do not like the information being mentioned in this article.



Almost everyone agrees that crypto regulation is overdue. But as the bill moves toward a vote on the Senate floor, it contains five gaps that threaten to undermine the very structure and stability the legislation otherwise hopes to deliver.

A platform or intermediary that moves, exchanges, conceals, or otherwise facilitates the transfer of value should not be able to avoid oversight simply by calling itself “decentralized.” These are exactly the blind spots Congress needs to close: when a digital asset platform or intermediary performs financial functions, it should be subject to appropriate anti-money laundering and sanctions safeguards.

Read in full https://www.coindesk.com/opinion/2026/06/09/5-corruption-gaps-congress-must-close-in-the-clarity-act

I can't open the article, so I found the briefing summary.
https://us.transparency.org/app/uploads/2026/05/Clarity-Act-Brief.pdf

Some blockchains do allow for decentralized transactions, and no matter how strict the law, it's impossible to ban Tornado Cash and its code, which is already open to everyone.

But I see this as good news because these issues are very minor. The main conflicts of the Clarity Act are not addressed in this article.

[bbc.reporter]

@zasad@. I am very much aware that decentralized platforms similar to Tornado Cash cannot be stopped on a smart contract level. However, these additions that the anticrypto Democrats want is more power to enforce the government on the users and the developers. This is very headshaking and this might not be a freedom creating law. This will be a freedom killing law and we have embraced this.

We were tricked!

[zasad@]

@zasad@. I am very much aware that decentralized platforms similar to Tornado Cash cannot be stopped on a smart contract level. However, these additions that the anticrypto Democrats want is more power to enforce the government on the users and the developers. This is very headshaking and this might not be a freedom creating law. This will be a freedom killing law and we have embraced this.

We were tricked!

AI
"August 8, 2022 (Sanctions Implementation): The US Treasury Department's Office of Foreign Assets Control (OFAC) designated Tornado Cash and associated cryptocurrency addresses as SDNs. OFAC accused the protocol of laundering over $7 billion in cryptocurrency, including funds from the North Korean hacker group Lazarus Group. US citizens and companies were completely prohibited from using the service.

November 26, 2024 (Decision): The US Fifth Circuit Court of Appeals issued a precedent-setting ruling in favor of Tornado Cash users. The court held that immutable smart contracts are open-source software code, have no owner, and cannot be considered "property" under US sanctions law. Therefore, OFAC exceeded its authority by seizing them.

March 21, 2025 (Sanctions Lift): In compliance with the court's verdict, the US Treasury Department officially removed Tornado Cash crypto addresses from the SDN sanctions list, completely lifting economic restrictions against the protocol itself."

https://www.venable.com/insights/publications/2025/04/a-legal-whirlwind-settles-treasury-lifts-sanctions
https://caldwelllaw.com/news/tornado-cash-sanctions-lifted-privacy-crypto/
https://uk.practicallaw.thomsonreuters.com/w-046-3001?
__
Are you saying that the government wants to impose sanctions against Tornado Cash again?
This will already look very funny.
It's the same as imposing sanctions against road builders because criminals drive on the roads I think this is info noise.

[bbc.reporter]

Are you saying that the government wants to impose sanctions against Tornado Cash again?
This will already look very funny.
It's the same as imposing sanctions against road builders because criminals drive on the roads I think this is info noise.

Hehehee are you implying that the anticrypto Democrats will never sanction wallets connected to Tornado Cash again? Your trust for the government is very headshaking.

Also, the argument you are using is not anymore applicable because the department of justice under the Democrats has already created a precedent against the developers of Samourai wallet. The government will keep disturbing these developers and cause them to plead guilty hehehehe.

[zasad@]

Are you saying that the government wants to impose sanctions against Tornado Cash again?
This will already look very funny.
It's the same as imposing sanctions against road builders because criminals drive on the roads I think this is info noise.

Hehehee are you implying that the anticrypto Democrats will never sanction wallets connected to Tornado Cash again? Your trust for the government is very headshaking.

Also, the argument you are using is not anymore applicable because the department of justice under the Democrats has already created a precedent against the developers of Samourai wallet. The government will keep disturbing these developers and cause them to plead guilty hehehehe.

If you are asking what I think about this, there are more than 20 intelligence agencies in the US, and the US Department of Justice, the FBI, and the IRS will also be doing their jobs.
The developers and co-founders of the Samourai Wallet bitcoin wallet are not accused of writing software code.They face charges of "conspiracy to commit money laundering and operating an unlicensed money transmitting business".

[bbc.reporter]

@zasad@. However, were the developers of Samourai wallet the people responsible for these crimes in these charges? Similar argument to yours, if a criminal used a Tesla car to kill a man on the street, should Elong Musk be charged for the murder?

In any case, this article mentions something that everyone in the cryptospace will agree!



The crypto industry’s leading founders, CEOs and investors recently signed a single letter to Senate leaders with one request: do not weaken the Clarity Act's protections for software developers. These are competitors, rivals for talent, capital and market share. Yet they agree on this because they understand what is at stake. Strip the developer protections out of the bill, and the United States risks pushing the people who build this technology offshore and forfeiting its lead in the next era of finance.

Read in full https://www.coindesk.com/opinion/2026/06/15/if-america-wants-to-lead-in-crypto-it-must-protect-the-people-who-build-it

[zasad@]

@zasad@. However, were the developers of Samourai wallet the people responsible for these crimes in these charges? Similar argument to yours, if a criminal used a Tesla car to kill a man on the street, should Elong Musk be charged for the murder?

In any case, this article mentions something that everyone in the cryptospace will agree!



The crypto industry’s leading founders, CEOs and investors recently signed a single letter to Senate leaders with one request: do not weaken the Clarity Act's protections for software developers. These are competitors, rivals for talent, capital and market share. Yet they agree on this because they understand what is at stake. Strip the developer protections out of the bill, and the United States risks pushing the people who build this technology offshore and forfeiting its lead in the next era of finance.

Read in full https://www.coindesk.com/opinion/2026/06/15/if-america-wants-to-lead-in-crypto-it-must-protect-the-people-who-build-it

I can answer based on your example: if Elon Musk knew about the crime and helped the criminals carry it out with advice or other recommendations, then he must be an accomplice.
I didn't come up with this, it's written in official documents that the developers knew they were participating in criminal activity:

Attorney for the United States, Acting Under Authority Conferred by 28 U.S.C. § 515, Nicolas Roos announced today the sentencings of KEONNE RODRIGUEZ and WILLIAM LONERGAN HILL, the co-founders of Samourai Wallet (“Samourai”), a cryptocurrency mixer that facilitated over $237 million in illegal transactions.  RODRIGUEZ, the Chief Executive Officer of Samourai, and HILL, the Chief Technology Officer, participated in a conspiracy to operate a money transmitting business in which they knowingly transmitted criminal proceeds.  The over $237 million dollars of criminal proceeds laundered through Samourai came from, among other things, drug trafficking, darknet marketplaces, cyber-intrusions, frauds, sanctioned jurisdictions, murder-for-hire schemes, and a child pornography website.  RODRIGUEZ and HILL were respectively sentenced to five and four years in prison.  U.S. District Judge Denise L. Cote sentenced RODRIGUEZ on November 6, 2025, and HILL on November 19, 2025.
https://www.justice.gov/usao-sdny/pr/founders-samourai-wallet-cryptocurrency-mixing-service-sentenced-five-and-four-years

[Z-tight]

RODRIGUEZ, the Chief Executive Officer of Samourai, and HILL, the Chief Technology Officer, participated in a conspiracy to operate a money transmitting business in which they knowingly transmitted criminal proceeds.

Of course it would read that, they entered a plea deal with the DOJ, so they pleaded guilty to that crime. But they only did that so they could get a lesser sentence and have other more serious charges dropped. The odds were always against them, so they had to take the deal to save their heads.

That verdict set a very dangerous precedent that puts the safety and freedom of software devs at risk. I hope the Clarity Act is passed, as it would offer these devs some protection from being labeled money transmitters, when they clearly are not.

[zasad@]

RODRIGUEZ, the Chief Executive Officer of Samourai, and HILL, the Chief Technology Officer, participated in a conspiracy to operate a money transmitting business in which they knowingly transmitted criminal proceeds.

Of course it would read that, they entered a plea deal with the DOJ, so they pleaded guilty to that crime. But they only did that so they could get a lesser sentence and have other more serious charges dropped. The odds were always against them, so they had to take the deal to save their heads.

That verdict set a very dangerous precedent that puts the safety and freedom of software devs at risk. I hope the Clarity Act is passed, as it would offer these devs some protection from being labeled money transmitters, when they clearly are not.

I'm not sure this will protect developers who know about the crime.
To protect the industry, we need clear legal provisions that separate developers from criminals.

I don't know how the new legislation will work. The developer won't be responsible for their code, but if..
There are a lot of "ifs," which we'll have to figure out.

[Z-tight]

I'm not sure this will protect developers who know about the crime.
To protect the industry, we need clear legal provisions that separate developers from criminals.

The question is how can you prove that the developers know what people are doing with their open source code or software, when they are not in control of the funds. However, the only way they should be culpable of any crime is when they advertise their services directly in cybercriminal forums or in the dark web, that way it can be argued that those are their target audience and they are promoting such activity.

[zasad@]

I'm not sure this will protect developers who know about the crime.
To protect the industry, we need clear legal provisions that separate developers from criminals.

The question is how can you prove that the developers know what people are doing with their open source code or software, when they are not in control of the funds. However, the only way they should be culpable of any crime is when they advertise their services directly in cybercriminal forums or in the dark web, that way it can be argued that those are their target audience and they are promoting such activity.

How was SBF's guilt proven?
Quite simply, his coworkers testified against him in court.
It's very difficult to prove who commissioned the advertising, competitors could have done it. Therefore, the classic scheme usually works: whoever speaks first becomes a witness and makes a lucrative deal, while those who remain silent receive the maximum prison sentence.

[bbc.reporter]

@zasad@. However, were the developers of Samourai wallet the people responsible for these crimes in these charges? Similar argument to yours, if a criminal used a Tesla car to kill a man on the street, should Elong Musk be charged for the murder?

In any case, this article mentions something that everyone in the cryptospace will agree!



The crypto industry’s leading founders, CEOs and investors recently signed a single letter to Senate leaders with one request: do not weaken the Clarity Act's protections for software developers. These are competitors, rivals for talent, capital and market share. Yet they agree on this because they understand what is at stake. Strip the developer protections out of the bill, and the United States risks pushing the people who build this technology offshore and forfeiting its lead in the next era of finance.

Read in full https://www.coindesk.com/opinion/2026/06/15/if-america-wants-to-lead-in-crypto-it-must-protect-the-people-who-build-it

I can answer based on your example: if Elon Musk knew about the crime and helped the criminals carry it out with advice or other recommendations, then he must be an accomplice.
I didn't come up with this, it's written in official documents that the developers knew they were participating in criminal activity:

Attorney for the United States, Acting Under Authority Conferred by 28 U.S.C. § 515, Nicolas Roos announced today the sentencings of KEONNE RODRIGUEZ and WILLIAM LONERGAN HILL, the co-founders of Samourai Wallet (“Samourai”), a cryptocurrency mixer that facilitated over $237 million in illegal transactions.  RODRIGUEZ, the Chief Executive Officer of Samourai, and HILL, the Chief Technology Officer, participated in a conspiracy to operate a money transmitting business in which they knowingly transmitted criminal proceeds.  The over $237 million dollars of criminal proceeds laundered through Samourai came from, among other things, drug trafficking, darknet marketplaces, cyber-intrusions, frauds, sanctioned jurisdictions, murder-for-hire schemes, and a child pornography website.  RODRIGUEZ and HILL were respectively sentenced to five and four years in prison.  U.S. District Judge Denise L. Cote sentenced RODRIGUEZ on November 6, 2025, and HILL on November 19, 2025.
https://www.justice.gov/usao-sdny/pr/founders-samourai-wallet-cryptocurrency-mixing-service-sentenced-five-and-four-years

Knowingly is the official declaration after the developers were pleading guilty for a lesser sentence. There was already an agreement behind this heheheh. However, if you always trust the government to tell you the truth, I can only tell you that you are a naive man.

In any case, everyone can agree that the clarity act should not weaken the protection on developers and not anymore cause occurrences similar to the Samourai developers where they were forced to say a statement written for them by the government.

[zasad@]

@zasad@. However, were the developers of Samourai wallet the people responsible for these crimes in these charges? Similar argument to yours, if a criminal used a Tesla car to kill a man on the street, should Elong Musk be charged for the murder?

In any case, this article mentions something that everyone in the cryptospace will agree!



The crypto industry’s leading founders, CEOs and investors recently signed a single letter to Senate leaders with one request: do not weaken the Clarity Act's protections for software developers. These are competitors, rivals for talent, capital and market share. Yet they agree on this because they understand what is at stake. Strip the developer protections out of the bill, and the United States risks pushing the people who build this technology offshore and forfeiting its lead in the next era of finance.

Read in full https://www.coindesk.com/opinion/2026/06/15/if-america-wants-to-lead-in-crypto-it-must-protect-the-people-who-build-it

I can answer based on your example: if Elon Musk knew about the crime and helped the criminals carry it out with advice or other recommendations, then he must be an accomplice.
I didn't come up with this, it's written in official documents that the developers knew they were participating in criminal activity:

Attorney for the United States, Acting Under Authority Conferred by 28 U.S.C. § 515, Nicolas Roos announced today the sentencings of KEONNE RODRIGUEZ and WILLIAM LONERGAN HILL, the co-founders of Samourai Wallet (“Samourai”), a cryptocurrency mixer that facilitated over $237 million in illegal transactions.  RODRIGUEZ, the Chief Executive Officer of Samourai, and HILL, the Chief Technology Officer, participated in a conspiracy to operate a money transmitting business in which they knowingly transmitted criminal proceeds.  The over $237 million dollars of criminal proceeds laundered through Samourai came from, among other things, drug trafficking, darknet marketplaces, cyber-intrusions, frauds, sanctioned jurisdictions, murder-for-hire schemes, and a child pornography website.  RODRIGUEZ and HILL were respectively sentenced to five and four years in prison.  U.S. District Judge Denise L. Cote sentenced RODRIGUEZ on November 6, 2025, and HILL on November 19, 2025.
https://www.justice.gov/usao-sdny/pr/founders-samourai-wallet-cryptocurrency-mixing-service-sentenced-five-and-four-years

Knowingly is the official declaration after the developers were pleading guilty for a lesser sentence. There was already an agreement behind this heheheh. However, if you always trust the government to tell you the truth, I can only tell you that you are a naive man.

In any case, everyone can agree that the clarity act should not weaken the protection on developers and not anymore cause occurrences similar to the Samourai developers where they were forced to say a statement written for them by the government.

My opinion on this matter is no different from yours. The developers agreed to a plea bargain with the government, and plea bargains are usually only made in the event of an admission of guilt and full cooperation with the investigation. This was the developers' decision; I don't think they were forced to do so under threat.

[bbc.reporter]

@zasad@. It would be another naive assumption to think that there was no threat, I reckon.

In any case, it appears there is another storyline beginning in to be argued in America. This is on perpetual futures and if these are only swaps or real futures markets heheheh.



Are perps swaps? A quick look at that CME suit: State of Crypto

CME Group filed a lawsuit against the Commodity Futures Trading Commission alleging it should not have approved Kalshi's perpetual futures contracts the way it did and asking a court to vacate the approval and self-certified products.

CME is arguing that perps are harmful to its long-dated futures products. The lawsuit alleges that the CFTC did not consider the ramifications of approving perps, and that these products are actually "swaps" as defined by the Dodd-Frank Act, and not "futures."

Each term carries implications for how the products themselves are to be regulated and what the requirements are for the companies issuing them are. CME CEO Terrence Duffy, who recently announced he's stepping down next year, told CNBC last week that the distinction mandates different rules for participants.

"The CFTC did not engage in its own analysis of whether its approval of Kalshi’s Bitcoin perpetual as a future is consistent with law," CME's lawsuit said. "The CFTC did not even mention the relevant Dodd-Frank provision defining 'swap.' Indeed, the word 'swap' appears nowhere in the Order."

The CFTC instead just "rubberstamped Kalshi's application," the lawsuit claimed.

Read in full https://www.coindesk.com/policy/2026/06/21/are-perps-swaps-a-quick-look-at-that-cme-suit-state-of-crypto

[zasad@]

@zasad@. It would be another naive assumption to think that there was no threat, I reckon.

In any case, it appears there is another storyline beginning in to be argued in America. This is on perpetual futures and if these are only swaps or real futures markets heheheh.



Are perps swaps? A quick look at that CME suit: State of Crypto

CME Group filed a lawsuit against the Commodity Futures Trading Commission alleging it should not have approved Kalshi's perpetual futures contracts the way it did and asking a court to vacate the approval and self-certified products.

CME is arguing that perps are harmful to its long-dated futures products. The lawsuit alleges that the CFTC did not consider the ramifications of approving perps, and that these products are actually "swaps" as defined by the Dodd-Frank Act, and not "futures."

Each term carries implications for how the products themselves are to be regulated and what the requirements are for the companies issuing them are. CME CEO Terrence Duffy, who recently announced he's stepping down next year, told CNBC last week that the distinction mandates different rules for participants.

"The CFTC did not engage in its own analysis of whether its approval of Kalshi’s Bitcoin perpetual as a future is consistent with law," CME's lawsuit said. "The CFTC did not even mention the relevant Dodd-Frank provision defining 'swap.' Indeed, the word 'swap' appears nowhere in the Order."

The CFTC instead just "rubberstamped Kalshi's application," the lawsuit claimed.

Read in full https://www.coindesk.com/policy/2026/06/21/are-perps-swaps-a-quick-look-at-that-cme-suit-state-of-crypto

Are you saying that all democratic institutions have been destroyed in the US?
Why threaten someone against whom sufficient evidence has already been collected and the case can be brought to court?
These developers have good lawyers and would be only too happy about this fact.
Usually, security forces beat and threaten idiots who can't afford lawyers, but security forces are afraid to commit illegal actions against famous people.

Do you think the programmers and their lawyers were so intimidated that they were afraid of a jury trial?
Most likely, the lawyers reviewed the case, calculated their chances, and decided it was better to reach a settlement than to face a longer prison sentence in court.

[bbc.reporter]

@zasad@. I am saying that the there are people in the American government who use their authority, whether right or wrong, to threaten their own citizens and to make them bend their will. If you think that this does not happen in the world, this would be headshaking.

You are telling me that the American government is the most perfect form of government?

Also, on jury trial. This will need much money and the government can make this a trial that will take much years heheheeh. That was the threat and the government's offer was to plead guilty and have a lower sentence.

[zasad@]

@zasad@. I am saying that the there are people in the American government who use their authority, whether right or wrong, to threaten their own citizens and to make them bend their will. If you think that this does not happen in the world, this would be headshaking.

You are telling me that the American government is the most perfect form of government?

Also, on jury trial. This will need much money and the government can make this a trial that will take much years heheheeh. That was the threat and the government's offer was to plead guilty and have a lower sentence.

Any system of government is made up of people, so it's susceptible to corruption, abuse of power, and political pressure. But America has excellent democratic institutions that can resist this.

My point of view is based on the opinions of several American lawyers I read. The problem isn't money or the prosecutors' ability to drag out the trial. To stand before a jury, you need to have a rock-solid case of innocence; otherwise, if you lose the case in court, you could get 20 years instead of four. That's why people agree to plea bargains.

Under US law, prosecutors are not required to disclose all evidence before trial. It's very likely that another witness who made a plea bargain with the government will testify against the developers.

[safar1980]

CLARITY Act Update: Congress Schedules The Hearing on the Bill for July 17

After months of uncertainty, the CLARITY Act is finally showing signs of movement in Washington. The House Financial Services Committee (HFSC) has scheduled a hearing on the bill for July 17 in New York

The hearing comes just a month after the Senate Banking Committee voted 15-9 on May 14 to advance the legislation. While the bill still faces several major hurdles before becoming law.

House Financial Services Committee Schedules Two Key Hearings

In a recent press release, the House Financial Services Committee scheduled two key hearings around the crypto bill.

Firstly, on 14 July, HFSC scheduled the hearing on Federal Reserve monetary policy, where lawmakers will discuss interest rates, inflation, and the broader economic outlook.

[bbc.reporter]

@safar1980. This is the latest rating for the Clarity act's approval on Polymarket. It has lowered to only 46% and I speculate that if this is not approved, this might cause another dump on the cryptospace. Also, a lower bitcoin price will put more pressure on Michael Sellor and his financial experiment. This will be a very headshaking occurrence.