A massive change in crypto is brewing

[5W-KILO]

Guys, I think the changes we have all been hoping for is coming into crypto space as we speak.

Imagine a crypto space where there is no more room for fake volumes, wash trades and shady reserves? This is what the latest Senate votes on Jan 15th is all about, if this gets passed we are going to see some massive improvement in crypto market.



I hope they vote this as a YES.

Source: https://x.com/i/status/2010268201028870470

What is your take on this good news? Because it is or you think otherwise? Drop your opinion and let's talk about it.

[Jubilee58]

I think this move for cryptocurrency clarity act is a welcomed development. Many things are hindering the cryptocurrency market and many are not willing to be involved in cryptocurrency business, as a result of lack of regulatory act.

Regulating the cryptocurrency market will bring a lot of improvement into the market, boosting investors confidence and bringing more people into the cryptocurrency market.

Indeed, voting this crypto act is a palatable idea.

[BitMaxz]

What do they mean about wash trades? Are they talking about filtering out all trades, if they came from legit sources or not?

It looks like they are going to regulate all exchanges and remove unregulated exchanges?
If they can do that, they can remove those fake volumes that came from unregulated exchanges. It can indeed improve the market with fewer manipulations.
I hope all of them will vote yes and let's see if it can help the market since most of the traders are affected by fake volumes and manipulations.

[Cricktor]

Why do you post a useless Twitter post with basically zero information, despite a date and how that thing is likely to be called. If you want discussion about what this act is about, you should've posted something more substantial.

Is this what it's about? H.R.3633 - Digital Asset Market Clarity Act of 2025
(not really sure if this is actually what we're looking for, but we'll figure it out..., I'm not used to American Legislation)

Holy shit, this is dry stuff to read and comprehend, I'm probably not patient enough for this today, a whole bunch of references to some ancient acts and so on and so forth. This is painful legislative poison to digest.

Lots of yadda, yadda about whatnot studies should be made and reported to Senate and whoelse. Funny. OK, I give up for today, it's hard (for me) to figure out what this is ALL about, to be frank.

[nelson4lov]

Why should be excited for government to start having more control and have more say in key decisions in our industry? Beyond ETFs and governments and it's bodies becoming holders of Bitcoin, I don't think it's necessary for them to get more involved kn the industry. Crypto used to be free flowing and opportunities existed because of this but once that's taken out, I fear things will go from bad before it gets to worse for the industry.

[passwordnow]

Why should be excited for government to start having more control and have more say in key decisions in our industry?

I think it's the aim of that news and that's to kill those fake volumes that are being taken advantage by whoever uses it especially the exchanges. But yeah, if this is going to be a law and had become a crypto rule and guide book. Are the ones who are involved in it are really going to stop those wash trades? the fake volumes? and any other shady thing? Because some exchanges that are known now like binance had given punishments and penalties when they've found out, so there's always a bail out.

[programmer3666]

If the Senate vote is made to address some major challenges in the crypto space, which range from wash trading, fake volumes and some shady reserves, honestly that will be a very positive step in the right direction because if transparency is evident and a very clear and clean market is visble then it will surely attract more investors to adapt cryto and also in turn reduce the ever growing scams that kill the spirite of trust in crypto.

[BADecker]

The most important point in the USA is that nobody can crack the blockchain. This means that Bitcoin transactions that don't go through corporate exchanges are private transactions. And there are 70+ SCOTUS adjudications, all the way back to the beginning of the United States of America, that state that PRIVACY in America rules. The courts have even made this a fundamental ruling with the Private Membership Association (PMA).

Government in the US has adjudicated a hands-off condition regarding private property... in the PMA adjudications. This means that private Bitcoin transactions are just that, private. It's like private smoking and drinking bars in States that have laws against smoking and drinking, can get away with it because they are PRIVATE.

Or, take nudist camps and beaches. If they are private, government doesn't have any authority over them, as long as they don't harm anyone. Try walking down the street naked, and see how long it takes the cops to arrest you. But expressed privacy rulings are above government, just like your home is... as long as there is peace.

The point is, government crypto or control of crypto only counts in the corporate exchanges. It isn't something that government can do when transactions are private.


Note that government will try to get away with whatever they can. It may take standing up against them. Remember, they are only people. And as people, they can be legally attacked just like they attack you.

[FinneysTrueVision]

Since this is a US bill, these rules will only apply to US based exchanges, who already follow strict rules. When we think of inflated volume and shitcoin pump and dumps, it is usually Binance and other exchanges outside of US jurisdiction that come to mind.

American exchanges, such as Coinbase, aren’t perfect by any means but they face issues which aren’t covered by these rules. Overall, I don’t think the CLARITY Act will have much impact on cleaning up those negative aspects about CEXs because the biggest ones are mostly based overseas.

[Sticky Bomb]

Government in the US has adjudicated a hands-off condition regarding private property... in the PMA adjudications. This means that private Bitcoin transactions are just that, private. It's like private smoking and drinking bars in States that have laws against smoking and drinking, can get away with it because they are PRIVATE.

There is nothing like "private bitcoin transactions". All bitcoin transactions are publicly available on the ledger. If you talk about anonymity, then it is about the person's identity not linked to the transaction which is a different case altogether.

The point is, government crypto or control of crypto only counts in the corporate exchanges. It isn't something that government can do when transactions are private.

This is more reason you should practice self-custody and not trust a centralized entity with your coin, it helps stay away from government control over your funds.

I think the Clarity act would help reduce the manipulations we see with fake volumes that affect traders, I kind of like the idea, maybe it would have a positive outcome for crypto generally.

[o48o]

Why should be excited for government to start having more control and have more say in key decisions in our industry? Beyond ETFs and governments and it's bodies becoming holders of Bitcoin, I don't think it's necessary for them to get more involved kn the industry. Crypto used to be free flowing and opportunities existed because of this but once that's taken out, I fear things will go from bad before it gets to worse for the industry.

I am not happy about that governments have such a power over this, as price is now tied to institutional investors, and they will follow any regulatory hoops that cryptos were supposed to be resilient against. If we want to be free, we need to be underground, obscure again.

But skimmed the bill because i don't have time to dig deep into it now, and i am surprised that i actually was nodding to many parts of it. Yeah, it definitely brings clarity to people in US. But some of it didn't make any sense to me.

I am not so sure why they so badly want to kill CBDC ("bhecaushe we are not chee chee pee?"), as they could have just force them to have ZK smart contracts to prevent surveillance? Or they could just force it to NOT to be a surveillance state currency. It's not like they have removed AML laws from cryptos. Only their securities status. It just reeks of witch hunt, and hate towards the acronym, where CBDC is new communism, and without exploring what good kind of CBDC should be.

Other thing is banning algorithmic stablecoins and at the same time approving only US based issuers with less reserve needs. Yeah, it's not like cutting reserves would ever blow up in their faces. That's never happened? Right?

[9ja Amaka]

If the Senate vote is made to address some major challenges in the crypto space, which range from wash trading, fake volumes and some shady reserves, honestly that will be a very positive step in the right direction because if transparency is evident and a very clear and clean market is visble then it will surely attract more investors to adapt cryto and also in turn reduce the ever growing scams that kill the spirite of trust in crypto.

That is basically what they say they want to do. However, I see no meaning in the act because it is of no use to the crypto space.
Traders are now conversant in identifying coins with fake volume. It isn't a challenge anymore to the crypto holders and traders. Since the government wants to do something useful, they should stop influencing the market with unnecessary information's that has caused change and price swings into their direction they want.