政治内幕人士称Clarity Act今年将通过，银行游说反对稳定币收益

Clarity Act will uh will will be passed later this year.

Former House Financial Service Committee Chairman Patrick Mckenry. So he's an insider on how financial policy gets made in Washington.

Chair declares the House in recess subject to the call of the chair.

He's just revealed on Bloomberg what's really going on behind the scenes with the Clarity Act. Something huge is brewing behind the scenes with this. Your time is valuable. I'm going to tell you the exact main takeaways right now before we even watch the clip. If you appreciate Altcoin Daily keeping you informed on crypto every day, cheers the like button. Here we go. Insider Patrick Mckenry says that there's a reason big banks are all of a sudden doing huge media pushes right now on the Clarity Act.

One announcing their newfound support for blockchain, crypto, and clarity. as a bank, we're a we're a leader in digital assets. Many of us are. It's got some fantastic technology.

And two, really stressing their point of view on the stable coin yield issue.

We're certainly not giving up on trying to get some more improvements um to the act.

We know the Trump ethics issue has been one of the main sticking points. We know the Coinbase versus banks on stable coins has been the other big sticking point. So, with the Clarity Act failing to go to vote in Senate before their summer recess,

yay, recess,

why all of a sudden are we seeing banking CEOs make time to go on mainstream media to talk about all of this?

We have not given up on pushing to get some improvements made to the bill. Um, but we would like to see uh the a good bill go through. I think it would be excellent for the system. According to Patrick Mckenry, who understands how the sausage is made, this is all a surefire sign that the Clarity Act will be passed into law this year. The banks are doing all of this because they know it will get signed into law. That's why they're all still trying hard to change public discourse before the Senate votes still scheduled for September 15th.

This blew my mind when I finally understood it. This is what's currently going on behind the scenes from an insider himself. Hit the like button and listen closely.

They are making a last dish effort. That's what all the the banking industry uh can do at this point is to uh try to bring this up at town hall meetings and when people are at home and out of Washington. Uh it's it's falling on deaf ears though. uh this this major uh piece of the bank's lobbying effort against the Clarity Act is that uh by allowing uh yields on stable coin products, you're going to have massive deposit flight.

The truth is the banking industry and the banking lobbyists uh in Washington have not stopped uh the death of small banks in America. We have 2,000 fewer banks than we did pre-inancial crisis. A lot of that has to do with the cost of being a bank in the United States. The banking lobby hasn't addressed that in any any substantive way. So they're turning their eyeire to crypto in order to uh stay together uh for the banking associations in their political power.

Point one. Point two, I would say is that uh on deposit flight uh these stable coin yield products have been out in the marketplace for four and five years. You've not seen deposit flight. There are numerous studies uh uh from universities uh from the Federal Reserve, from other entities across our government that have shown this this this fight uh against deposit flight is just a fiction of the banking industry. But they've got to shoot their shot otherwise uh Clarity Act will uh will be passed later this year and they've got to do everything they can to maintain their political power.

The banking industry does. Uh the establishment is the establishment for a reason. uh once they get in power, they get entrenched in power. And that's what we've seen from traditional financial products. And this is what we're seeing in the lobbying effort, especially they're tooting their own horn in Washington uh very loudly this August that they are showing their political power. We'll see in the fall if that in fact matters um to the votes of the Clearary Act.

I don't think it will though. [snorts] They're saying that you've seen deposit flight and you'll see more deposit flight. There's not been evidence of deposit flight. So, it's not true. The second point is I think we think of our uh money market funds and savings accounts differently than we do our transaction accounts. If money if people have PayPal uh stored value on PayPal today, they think of that as different than their long-term savings with a money market mutual fund.

Uh the truth is the banking industry is still fighting the fight over money market mutual funds from the early 80s. Fidelity invented the product. They fought like mad against the product. They lost that war. Money markets are now offered by banks. I think likewise you're going to see yields on these stable coin products or uh some return of value to the users of stable coin products and banks will be offering it and I think you're going to see that in very short order uh post the passage of the clarity act.

So, you're going to see a change universe for for banks and that is just what the marketplace is demanding, what consumers are demanding, even though the banking lobbyists are are raising their ugly heads this summer uh trying to say differently.

And we're seeing agency after agency, institution after institution create pro-c crypto regulation as if the Clarity Act has already passed. The SEC and CFTC as you know making huge sweeping pro- crypto and innovation changes. Washington's finding its way to clarity one agency at a time. VANC has 230 billion assets under management. 230 billion worth of wealth clients where they like many Treadfi institutions are recommending between 1 and 5% Bitcoin and crypto. their latest report to their 230 billion of wealth clients.

Bitcoin is approaching a cyclical bottom. Investors are ready to scale back in. And it's not just Bitcoin anymore. Guys, smash the like button. Let's talk altcoins. This makes me bullish on Ethereum and Salana. ETH and Soul could be getting scarcer. A new proposal on both networks aims to burn more tokens and cut inflation, reducing future supply. If they pass, annual inflation for Ethan soul could fall below gold and US CPI 1.8 and 3.3 by 2031.

Tradfi is recommending altcoins nowadays. Matt Hogan, CIO of Bitwise, reminding Wall Street and traditional finance tokens do capture value. Maybe the market just hasn't priced in. Hyperlquid, 97 plus% of fees go back to buyers, two billion in counting. Pump burned 36% of supply, locked 50% of revenue into burns. Uniswap burned 170 million uni fee switch on a automatic buybacks. Aptos hardcaped supply 10xed fees burns them and Salana current proposal to 12 to 14x the fee burn.

Specific altcoins are looking bullish. Look for ones aligning themselves with Wall Street. Not to mention from a technical point of view, Ethereum and altcoins are looking bullish. I know that this bare market feels harder than the 2223 bare market. Back then, we had obvious capitulation events. Luna collapsed, FTX collapsed, the entire market panicked. Now, it's just months of grinding, boredom, and pure depression.

But because we show you all the time why and how there's a future in crypto, understand that where we are today, it's an incredible opportunity for those who can see where this industry is going. Bitcoin has a funny way of making a price feel like it's going nowhere, right before making you wish you could never buy it there again, writes Mr. Anderson. Years Bitcoin spent at $200, years $10,000. now years at $60,000. Today, we look back and can't believe we had years of chances to buy Bitcoin around 10K.

Back then, people couldn't believe they'd had years of chances to buy it around 200K. I have a feeling one day we'll be saying the exact same thing all about these years. Bitco

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