Will the clarity act affect small and medium businesses negatively

[Coyster]

However, I am still sensing that this Clarity Act will not be given real approval, simply because even the public officials are not align with it. There will always be a conflict of interest, and if that continues, this proposal will not be pursue in the end.

When you say approval, do you mean the bill would fail to pass when the senate debates and votes on it? Because that is the stage we are at now. You make it sound like the fate of the bill is the hands on one individual to either approve or not, and that is not so.

It was always expected that the political parties would play their usual "politics" in this important legislation, and that's why the progress is so slow. That said, the most controversial aspects of the bill are being ironed out and so i am optimistic of passage when it's time to vote in the floor of the senate.

[BitBrainers]

The ethics clause is getting less attention than it deserves. The bill bans officials from issuing tokens while in office. $TRUMP launched three days before the inauguration and is grandfathered in. The banks fighting this bill and the politicians with conflicts of interest end up on the same side for very different reasons. That is the part worth watching when the Senate votes.

[Die_empty]

However, I am still sensing that this Clarity Act will not be given real approval, simply because even the public officials are not align with it. There will always be a conflict of interest, and if that continues, this proposal will not be pursue in the end.

When you say approval, do you mean the bill would fail to pass when the senate debates and votes on it? Because that is the stage we are at now. You make it sound like the fate of the bill is the hands on one individual to either approve or not, and that is not so.

It was always expected that the political parties would play their usual "politics" in this important legislation, and that's why the progress is so slow. That said, the most controversial aspects of the bill are being ironed out and so i am optimistic of passage when it's time to vote in the floor of the senate.

There is a slim chance that the bill will be passed in the Senate before the midterm elections. Many crypto players thought that Senate Majority Leader John Thune would prioritise the Clarity Act in their recent sitting. However, the Senate decided to debate the Russia sanctions package and federal nominations. With Congress going on recess and the forthcoming midterm elections, it is becoming unlikely that the 119th Congress (second session) would pass the bill. It is also possible that the bill could receive expedited passage before the end of the current Congress if it is lobbied appropriately.

[shinratensei_]

Uncollateralized credit through off chain verification exist, if there is capital outflow naturally there will be more uncollateralized credit appear on-chain.
What they thought is gone, will shift to digital assets. Technology always advances.

Also, I don't believe the capital outflow from banks will be so drastic there will be lack of credit line, or any loan in that matter.

[avp2306]

However, I am still sensing that this Clarity Act will not be given real approval, simply because even the public officials are not align with it. There will always be a conflict of interest, and if that continues, this proposal will not be pursue in the end.

When you say approval, do you mean the bill would fail to pass when the senate debates and votes on it? Because that is the stage we are at now. You make it sound like the fate of the bill is the hands on one individual to either approve or not, and that is not so.

It was always expected that the political parties would play their usual "politics" in this important legislation, and that's why the progress is so slow. That said, the most controversial aspects of the bill are being ironed out and so i am optimistic of passage when it's time to vote in the floor of the senate.

There is a slim chance that the bill will be passed in the Senate before the midterm elections. Many crypto players thought that Senate Majority Leader John Thune would prioritise the Clarity Act in their recent sitting. However, the Senate decided to debate the Russia sanctions package and federal nominations. With Congress going on recess and the forthcoming midterm elections, it is becoming unlikely that the 119th Congress (second session) would pass the bill. It is also possible that the bill could receive expedited passage before the end of the current Congress if it is lobbied appropriately.

By looking at those changes happening, it really seems that they trying to work on other things to delay or stop the bill to pass.

But maybe there's some changes will happen if those big industries, also PACS will try to push more even harder to do something before the congress will take its recess for several weeks.

So with this matters the probability maybe low, But actually the chances is not going to be zero. Most provably we will see the real result in next few weeks, also on how big the effort of those group pushing this bill to pass.

[Oluwa-btc]

If Clarity Act will be approved, I don't think it will be a threat for banks and even to small and medium businesses. The Clarity Act will only focus on the regulation for crypto market rules, so it will not affect banks and its services. Although there might be possibilities that some would shift into digital assets, but traditional banks are actually aiming for coexistence with digital assets, so in the long run this could even be an advantage for business owners, big and small, as they can both acquire services from different parties.

However, I am still sensing that this Clarity Act will not be given real approval, simply because even the public officials are not align with it. There will always be a conflict of interest, and if that continues, this proposal will not be pursue in the end.

They will find a way to make amendments if bankers and all those interested are not satisfied with what's to be implemented.

Truthfully, banks do not give a flying piss about small businesses, they also do not give a flying fvck about consumers. They're simply self centered and looking out for what's in for them.
The Clarity Act cool asf but I don't know why I'm not cool with the aspects of regulations. Shouldn't bring about the same control and surveillance consumers and business owners are tryna evade using bitcoin?!

Well, fvck those bankers again,  they only scared as shit of the incoming irrelevance they'll face eventually.