[Discussion] The Clarity Act vote gets postponed

[yhiaali3]

But what is Trump's stance on the transparency bill? Is he for or against it?
~snip~

He has much more important work these days to deal with cryptocurrencies, such as which country to attack next and at the same time end a few more wars

Lol, yes, you're right. He's very busy these days stirring up chaos and wars around the world, or perhaps he's looking for the next president to arrest.😂

This act will be adopted, like any other, only when all parties agree on how to divide the spoils, because in the end it's all about profit, right?

Yes, I think so too. If we analyze the situation a bit, we'll find that Brian Armstrong, the CEO of Coinbase, disagreeing with the resolution is the direct reason for postponing the vote. Clearly, the dissatisfaction of major crypto companies with the resolution will lead to a halt in support, so what's the point of passing such a resolution?

[Publictalk792]

Market is also closely following CLARITY Act, which was stopped this week following a warning by Coinbase CEO Brian Armstrong that current writing would harm industry by banning some digital assets and stablecoin rewards. Although having just single person slowing down Senate Banking Committee has been strange, his power speaks for  whole crypto industry, and lawmakers decided to hold the vote back on January 15 instead of passing broken law. Had bill passed with his promise, current Bitcoin which is fast approaching $97000 would have easily gone past 100000 mark since huge 754 million that has just entered cryptocurrency ETFs had more room in Bitcoin. Even so, it is not time to lose hope yet because Senate Agriculture Committee is set to meet on January 27 and fix the parts of them bill that were judged. If new writing given out on January 21 be good for industry, it may add last push needed to bring the market to record levels.

[OmegaStarScream]

A not very good update: According to Eleanor Terret[1] (a journalist) the White House is considering pulling its support for the crypto market structure bill unless Coinbase goes back up to the negotiation table.

[1] https://x.com/EleanorTerrett/status/2012344025802490208

[Satofan44]

Lol, yes, you're right. He's very busy these days stirring up chaos and wars around the world, or perhaps he's looking for the next president to arrest.😂

As he should, the world finds itself in a terrible place because Democrats are deranged and retards, and the EU is made up of complete idiots -- the rest of the world is messed up in different ways, specific to each country. The EU is an useless clusterfuck of incompetent neanderthals and I look forward for when it goes up in flames. Eventually there will be no sovereignty at all in that area, and the ownership of the existing land will be split between leading superpowers. This is what you get when you act tough but you are nothing more than an insect, like an annoying fly.  

A not very good update: According to Eleanor Terret[1] (a journalist) the White House is considering pulling its support for the crypto market structure bill unless Coinbase goes back up to the negotiation table.

[1] https://x.com/EleanorTerrett/status/2012344025802490208

It is a good update, read between the lines and learn how power plays are done. They are just publicly posturing against each other, that is common. This does not mean that the right side will prevail, but this is pretty standard behavior with negotiations these days. As you can see in that tweet, in particular with this part it is the banks who are tanking this bill:

with a yield agreement that satisfies the banks and gets everyone to a deal

The mainstream banks are some of the evilest and most corrupt entities that have ever existed. Coinbase needs to step up its banking game and start competing directly with the old status quo, it is time for a change.

[Lucius]

~snip~
As he should, the world finds itself in a terrible place because Democrats are deranged and retards, and the EU is made up of complete idiots -- the rest of the world is messed up in different ways, specific to each country. The EU is an useless clusterfuck of incompetent neanderthals and I look forward for when it goes up in flames. Eventually there will be no sovereignty at all in that area, and the ownership of the existing land will be split between leading superpowers. This is what you get when you act tough but you are nothing more than an insect, like an annoying fly.  
~snip~

Besides calling people idiots, you obviously have some dark ideas about setting 500 million people on fire, taking popcorn and watching them burn. You wouldn't mind lighting that fire, would you? The world is ruled by sociopaths, and unfortunately they have their representatives on this forum.

A not very good update: According to Eleanor Terret[1] (a journalist) the White House is considering pulling its support for the crypto market structure bill unless Coinbase goes back up to the negotiation table.

[1] https://x.com/EleanorTerrett/status/2012344025802490208

At least some cards are being revealed, and now we see who the act is actually being passed for. BA is not so intelligent as to block that act by itself, but the real question is who is pulling the strings from the background - it seems to me that they are guys from some much more powerful companies than his who have a lot of interest when it comes to cryptocurrencies.

[Satofan44]

Besides calling people idiots, you obviously have some dark ideas about setting 500 million people on fire, taking popcorn and watching them burn. You wouldn't mind lighting that fire, would you? The world is ruled by sociopaths, and unfortunately they have their representatives on this forum.

Nah, I don't deal in violence. You should read all the posts here before rushing to write a response. Here it is, perhaps I should also increase the font size so that you may see it.

Good. Once the EU goes down in flames on its own the world will be a less annoying place.  

Nothing needs to be done, it will collapse on its own with time and yes Greenland will be lost long before then.   It is very ironic and funny just how stupid the people that are in power in the EU are. There are many examples and videos of where they laughed about Trump during his last presidency, whether it is the Germans, the French or some other politicians -- he ended up being right about almost every single thing and he is very old. The average EU politician is dumb as a rock and only in the position in which they are due to corruption, just look at who is leading the whole block. An old and braindead hag.   Let's revisit, who is working on CDBCs and 1984-style surveillance system and who is pioneering Bitcoin and crypto regulations? We can see it with this "Clarity Act". Whatever the USA does in these terms is never going to be perfect, they are many problems over here too especially from lobbyists -- there are many different groups that are fighting for their own interests on bills that are important such as this one. Nevertheless, the country is millennia ahead of Europe.

At least some cards are being revealed, and now we see who the act is actually being passed for. BA is not so intelligent as to block that act by itself, but the real question is who is pulling the strings from the background - it seems to me that they are guys from some much more powerful companies than his who have a lot of interest when it comes to cryptocurrencies.

I said it already and quoted it, the banks have an issue with stablecoin yield. Besides them, there are other parties that are concerned with a future where DeFi is the main way to trade most shitcoins. When one thinks about it, for trades that are done within the same shitcoin there is absolutely no valid reason to go to a CEX or keep the CEX scam going. Hundreds of millions have been spend on useless listing fees when listing a token is a trivial act in most cases (if they support the same standard already it is a 5 minute AI slop job). In the end, Bitcoin is trying to get away from intermediaries and they are back here in full force. Any crypto to crypto trades should be done without intermediaries where possible, but cross-chain stuff remains complex. One of the main goals of lobbyists behind the Clarity Act's is to keep things centralized with existing powers.

[Churchillvv]

A not very good update: According to Eleanor Terret[1] (a journalist) the White House is considering pulling its support for the crypto market structure bill unless Coinbase goes back up to the negotiation table.

[1] https://x.com/EleanorTerrett/status/2012344025802490208

And this I’m afraid that coinbase will have to give up to the control system which is what I don’t want to see happen but they might be able to negotiate fairly not to start the centralization of bitcoin and/with crypto in a bit but gradually with some confusing terms that some people will be celebrating once the deal is done, think I’m beginning to develop doubt how long we can go with bitcoin even though price might surge yet if you really loved the core ideas of bitcoin and satoshi motives you will be disgusted with what the terms of the bill states.

For business sake coinbase CEO will be returning to the table to amend and make the deal but will not be all in a smiling face for us really bitcoin enthusiasts.

I also like the fact you said it’s not a very good update: yeah sure it’s not and will never be.

[BlackHatCoiner]

So basically it's a bill that primarily targets the yield advantage of banks. Yeah, good luck passing that without introducing an endless list of regulations that re-create another monopoly on yield.

The tokenized equities situation is a real worry should you consider more than a quarter ahead. This is the point at which the conventional finance infrastructure is beginning to move on-chain.

You can effectively tokenize only bearer assets, in my head, such as USDT, ETH, and bitcoin. I don't understand how tokenization makes any sense for stuff like stocks or real estate. What happens if I own an e-NVDA and lose the private key? I've yet to found a sufficient response to this simple question.