$SYRUP
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NEW from Bloomberg Intelligence: 60% chance the $Clarity Act passes this year. They call it “at the one-yard line” — Treasury @SecScottBessent agrees. After months of negotiations, the latest Senate text is out and momentum is building for a floor vote soon. #Crypto’s [Spoken audio]: Just telling us digital assets are getting alongside crypto stocks after Treasury Secretary Scott Besson said the clarity act is at the quote One-yard line Nathan Dean is senior government analyst over at Bloomberg intelligence He's been closely tracking the clarity act and he joins us now Nathan. What can you tell us about? What key hurdles have been? Crossed as a result that has put the clarity act perhaps on course for passage sometime soon Yeah, so there were really two hurdles left, and the first one that Secretary Besin is talking about is ethics language. Now, as reported last night, the President Donald Trump has signed off on the ethics language that's in the text that we haven't seen, but it's important to note that the Senate Democrats have also not seen this. So we are cautioning our clients that Senate Democrats may have a different take, so just keep that in mind. The other hurdle that's out there right now is language tied towards essentially bringing crypto platforms like Coinbase and Robinhood up to the same level of scrutiny like banks when it comes to Bank Secrecy Act, know your customer and customer protections. But I think both can be resolved and that's why we're at a 60% chance that the clarity act can pass this year. This year do you agree with the secretary that it's at the one yard line? I do. The reason being is the Senate is here for two more weeks and then they leave for the August recess. And if it doesn't pass before the August recess, look, it's going to face a very challenging future because September is going to be tied up with the government shut down and then we're in election season. So what Secretary Besin is essentially saying right now is now is the time to vote on this and I do think that Senate Majority Leader John Thune is going to schedule a vote and put the both folks on the Republican and the Democrat side of the aisle on record. Are you going to be for this or not? And that's why one of those pressures I think eventually convinces enough Democrats to go along with it.
