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@TFTC21@TFTC21

Lummis pushes Senate to pass the CLARITY Act after Democrats won 126 concessions and wrote over half of the 635-page bill. “Let’s vote yes. Let’s get this done.”​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

@TFTC21@TFTC21

House Majority Whip Tom Emmer pushing for the CLARITY Act vote ahead of today's cloture. "The Senate has held on to the Clarity Act for far too long. It is time to take action to ensure stability and innovation in digital assets for years to come."

@TFTC21@TFTC21

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@TFTC21@TFTC21

Revolut just confirmed someone used a legitimate government email domain to send fraudulent requests for customer records. They thought the requests were real and handed over the information. City AM reports 680 customers were affected, citing a source close to the bank. Identity documents and contact details were disclosed. Customer notifications said the records may also have included verification selfies, bank statements, and transaction histories. Think about what we're doing. You're forced to give a company documents proving who you are, where you live, and details about your money. The company holds those records. Someone impersonates an authority, and now your records are in their hands. The tools for impersonating people are only getting better. The FBI has warned about generative AI making scams and fraudulent credentials easier to produce. And we know how serious the physical risks around financial wealth can get. Look at the kidnappings and mutilations targeting people in France's cryptocurrency industry and their families. The Bank Secrecy Act dates to 1970. We need to repeal it. This is yet another reason for bitcoin. We should be able to send money directly to one another without going through a bank that Washington can lean on. Stop collecting the data. Stop making people a target.

@TFTC21@TFTC21

Sen. Tim Scott says the CLARITY Act "will ultimately pass without any question." "Today is the first really important vote that we've seen on the floor. It is time for everyone to put their cards on the table." The cloture vote is happening now. 60 votes needed to advance.

@TFTC21@TFTC21

The CLARITY Act cloture vote is less than an hour away and it's not looking good. Democrats are still holding the line on the bill's ethics provisions. Any further tweaks would need another White House sign-off, and time is running out. "Lots of really hard work is going on. But time is very short," one Democratic source told @EleanorTerrett. Republican sources echoed the sentiment. An industry source on the Hill expects the bill to fall short of the 60 votes needed to advance.

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Independent writing by Marty Bent at TFTC since 2017. Money, markets, AI, energy and privacy, delivered free to your inbox.

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