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CLARITY Act(크립토 시장구조법) 연내 통과 가능성을 강조하며, SEC 애트킨스·베센트·팀 스콧 발언을 인용해 미국 정책 추진을 긍정 평가. 제이미 다이먼의 스테이블코인 반대 발언은 은행권의 경쟁 두려움 때문이라며 법안 진행에 큰 영향 없을 것이라 주장. 크립토 전반에 낙관적 시각 제시.
다듬은 글
We just witnessed Jamie Dimon, JP Morgan CEO, drop an absolute nuke on the entire crypto industry, and we have to talk about this because it's very important, especially in the overall grand scheme of the Clarity Act becoming a possibility by the end of this summer. Now, let's start off with, of course, some of the updates that we were getting regarding the Clarity Act, specifically from the SEC, which if we're looking at this, we did get SEC Chair Paul Atkins says that he is confident that Congress will pass crypto market structural legislation, and President Trump will sign it into law.
Now, this is the video clip to go along with that announcement. We have here, Atkins is confident that Clarity Act will pass. SEC Chair Paul Atkins believes Congress will adopt the Clarity Act, and the president will sign, officially giving regulators a legal foundation for digital assets. Check it out.
I have confidence that Congress will uh adopt the uh Clarity Act, and that the president will be able to sign it, and that'll give us a statutory basis upon which uh we can operate, and and then again, allow the marketplace to uh innovate, and do that here on shore as the president has basically uh you know, challenged uh us to do is to we've chased a lot of these products offshore um to for people to try to innovate, but uh we need to do it in America under American law, so that uh investors have the confidence uh and the protections of that.
Yeah, we're in a race with China and other nations on So, yeah, I mean, we are definitely in a race with other nations on getting this done, uh which is also why I feel like like now we have this narrative really circulating around this that like if we don't get this done this year we are going to lose a lot of dominance, which makes it a big thing to focus on when it comes back to the whole idea of like are we going to see this fast-tracked or not?
And I do think that there's definitely a high possibility that we can get this done pretty quickly, especially if that is going to be the growing narrative around like oh, you know, if we don't get it done, then China's going to lead here or oh, this nation's going to lead here, whatever the case may be.
So, you know, I do think that you know, we definitely have a good chance of this getting done by the end of the summer. We are running into a sort of conflict with the idea of like time running out because it definitely is running thin at the same time that the Clarity Act is competing with other bills at the same time to get done within that timeframe.
So, it's definitely causing a lot of stress, causing a lot of pressure, but let's see what happens. But also Paul Akins put a spotlight on Trump's recent Truth Social post. And if you guys do remember, I did include this post in a video recently, but this is for too long the SEC was at odds with new technology and innovation pushing entrepreneurs offshore.
That era is over under President Trump's leadership and alongside colleagues across the admin and Congress, we are delivering much-needed clarity to digital asset markets. And we have here Gary Gensler and the anti-crypto army nearly destroyed the American crypto industry by driving Bitcoin crypto perpetuals and innovation offshore.
But Trump saved it. America is now the crypto capital of the world, and I don't think that we can technically claim that until we have clarity done. Like I don't think claiming that America is the crypto capital of the world is, you know, a good thing. I think that it's us celebrating too early. We need to get clarity done in order for crypto to really thrive in the US.
But, we do have And builders and entrepreneurs are coming back to the United States where they belong. Now, the main thing that we need still is clarity. Without clarity, this is just all words. So, let's see if we can get it done. But, let's go over to this post here as well from Tim Scott because we do have the Clarity Act in short America remains in the driver's seat of financial innovation because so far, yes, we have been in the driver's seat.
But, if we want to remain a dominant name here, yes, we need clarity. We need to advance this bill. So, let's listen in to what Tim Scott is saying. Listen, American people want to have access to what the rest of the world has access to. The only way to do that is have rules of the road. So, getting this legislation done is historic.
It puts America back in the driving seat for the future the foreseeable future. Having Cynthia Lummis and uh Mark Warner work together on anything is a blessing. It's like Peter walking on the water. It's something you don't see every day. And so, this is good news. But, more importantly, having Senator also Brooks and Senator Gallego come along with every single Republican on the committee to do what's in America's best interest long-term.
Listen, American people want So, yeah. I mean, obviously, being a crypto holder, like, we want this to advance. We want to make sure that we are getting behind this industry completely and making sure that we are the dominant name in crypto. But, also, let's just be real here. For us utility-based holders, we want to see clarity get pushed through so that we can finally see this technology unleashed in the real world.
For right now, crypto's technically just an island in finance. We are starting to see a lot of adoption happening. We're starting to see a lot of value moving in, but we are not seeing the technology really being utilized properly. So, until we get clarity, yeah, it's probably not going to be utilized the way that we want it to, which is why being a crypto holder, especially in the US, like we can't wait for this to get done.
But on top of that, we do have over here that Treasury Secretary Scott Bessent, big shout out to Sub for the views for this, "America will be the crypto capital of the world." With strong leadership at Treasury, we are delivering regulatory clarity, attracting innovation, and keeping the future of digital assets right here in the US, not offshore.
Check it out. And the Clarity Act is now up on the hill, and I think it has bipartisan support. And the most important thing we can do is to make digital assets come into the United States, make the US the home, our regulation, our best practices, what will ensure good standards for these. When you look at digital assets, all the nonsense that happens, all the things you read about, that's because it's the wild, wild west offshore.
So, we got to bring it onshore. So, I would encourage the House and the Senate to get clarity done. And So, yeah, I mean, Scott Bessent also is aware that if we don't get this done, like we are going to lose the driver's seat. Like the US will take the backseat while someone like the EU or maybe even I mean, not so much the UK, but the EU definitely will start to advance further.
So, we need to make sure that we get this done. Everyone along the, you know, line here from Bessent to Paul Atkins, pretty much everyone is like putting a lot of pressure on this to get it done. But the issue is we still need to see this get, you know, pushed through the House, um, which is going to be a challenge, and then also we need to see it get pushed onto President Trump's desk.
Now, I'm not too concerned about that part, but we definitely need to, you know, get through the the biggest obstacles still, and that could definitely take some time. Now, let's talk about Jamie Diamond because, guys, he just dropped an absolute nuke on the industry and exposed something interesting.
We have here from Good Evening Crypto News, JP Morgan CEO Jamie Dimon warns stablecoins could become a huge problem, and he's not happy with the Clarity Act. Aw, boo-hoo, Jamie. Who cares? Guess what? Consumers are not happy with the fact that JP Morgan got a lot richer in '08 while everyone lost their, you know, their houses, a ton of money.
I mean, you name it. Consumers got wiped out while people like Jamie Dimon and JP Morgan, well, they got richer. They got bigger. When asked about Coinbase CEO Brian Armstrong representing the industry, Dimon said, he's full of it. Does Clarity get signed in 2026? Check it out. So, you know, this is it's complicated, and the government needs to do it thoughtfully.
If they don't do it thoughtfully, it will because it'll be a huge problem. So, are you happy with the way the Clarity Act is turning out? No. No, because it it it it allows them to pay effectively pay interest on deposits, stablecoins, or something like that without the protection that they should have, and it doesn't do anything for AML/BSA.
It has almost no legal protections. So, no, it's a the banks will not accept it that way. They want to see the ABA, the small banks, the credit unions, not just the big guys. I'm not worried about stablecoin, but if it happened, I'm telling you, I would have nothing to do with it, and it would eventually blow up in its own.
Okay? But, that's my personal thing, but I do understand the concern of all the other banks, so. Well, the markup is coming. I mean, what are you going to do about it? we'll fight it. If we lose, we lose, and we'll live. Yeah. Okay. But, it will be fought. This will not be the no the no one's going to bow down to this guy, okay?
Or that company. And by he's the only one, and he's spending hundreds of millions of dollars on in Washington this thing. He said he's he's representing the whole in He's full of Wow. Um we're going to watch that one. Yeah. Wow. Well, I mean, this is turning into a big fight between the whole it you know, each industry.
And And And you're talking about blockchain and and and getting blockchain out We do blockchain. that for a long time. We have J We're going to do it. I think it's a legitimate technology. I think stablecoin could be a legitimate payment system. So, yeah. I mean, this is pretty wild for him to, you know, state about Brian Armstrong and Coinbase.
But, listen, I don't think Honestly, I don't think that Coinbase and Brian Armstrong are like the face of crypto. I think that there's multiple players from crypto that are, you know, representing the industry. But, I definitely think that when it comes back to the banks, the banks are pissed off simply because they didn't get their own way.
And they've been talking about stablecoins for quite some time being the problem here. Uh ultimately, the issue is that banks don't want to front the capital to compete. They don't want to give consumers money at all. We have over here from Patrick Witt. This is an odd clip. I find it hard to believe that the CEO of a major, you know, triple-B bank could be this uninformed about a major piece of financial legislation.
The Clarity Act doesn't do anything for AML and BSA. Really? Have you read titles two or three? It allows them to effectively pay interest on deposits. False. Section 404 explicitly prohibits digital asset companies from paying any form of interest or yield on a stablecoin balance in a manner that is economically or functionally equivalent to the payment of interest or yield on an interest-bearing bank deposit.
It is becoming increasingly clear that bank opposition to the Clarity Act is more about personality than policy. Oh, it's almost as if this is something that we've been talking about for a bit of time. The banks are more skewed not about, you know, the policy side, but they are very upset with how they basically lost this fight.
So, they are constantly fighting this, constantly, you know, putting out an alarm on it, saying like oh, that you know, stablecoins are doing this, stablecoins are doing that. Like it's so comical. But on top of that, we have over here from Eleanor Terrett, new JP Morgan CEO Jamie Dimon took aim at the Senate's crypto market structure bill today, arguing it doesn't do anything for AML and BSA and provides almost no legal protections.
Well, Senator Lummis said, "The banks can't deal with a bipartisan compromise in stablecoin yield and are making completely false claims about BSA and AML as a last-ditch attempt to poke holes in a solid piece of legislation that protects consumers. Fear of competition always brings out an interesting side of people, and that's all this is." And yes, that's exactly what this is.
We are seeing the banks shaking at the the overall fact that they might actually have to pay out consumers. They might actually have to pay us, guys. Um they can no longer offer the 0.3% on savings accounts that they do right now, which by the way is just charity. Like it's ridiculous. Um so, if they really wanted to compete, they would have to pay us about like 4 to 5%.
Guys, that's a significant penny. And that's the problem here. The banks want to continue to eat in this new world of finance, but they don't want to, you know, throw us any scraps at all. They want to keep everything the same. And that's the problem here. That's why they are so upset. That's why everywhere you look from like the major bank institutes, like this is from the BPI, the Bank Pulse Institute, yield bearing stablecoins can destroy deposits, May 8th of this year.
Also, banking groups escalate fight over stablecoin yield ahead of Senate vote. If you guys do remember this, we do have the American Bankers Association is heating up its lobbying of senators to tighten stablecoin provisions in the Clarity Act, warning that updated language could still undermine bank deposits and financial stability.
Bank trade groups argue that yield bearing stablecoins could act as substitutes for insured deposits and drain funding for mortgages and business loans, while crypto and fintech firms say stablecoins offer faster payments and new ways to move money online. The clash over stablecoin yield, which has already complicated work on the Senate's Genius Act, threatens to slow broader crypto legislation as the Banking Committee prepares to mark up the Clarity Act this week.
Now, we already know that it was successful, but this is how the banks have been attacking the Clarity Act. And even more recently, on the 27th, banking groups urge regulators to consider stablecoin risk. And this is from the ABA, the BPI, the CBA, and even the ICBA. These are every single bank organization in the US attacking the Genius Act and attacking also the Clarity Act.
And it comes back to the whole idea of why. Well, just like Patrick Witt is saying here, just like Lummis is saying, this is all about the fear of competition, the fear that they might actually have to pay us out. The banks are dropping nukes, but I don't think that it's enough at all to slow things down.
But this is absolutely crazy for Jamie Dimon to go on live television and say things like this. At a crucial moment in time where time is definitely running out around crypto legislation, I don't think that any of this is going to slow it down. I think that we are right on par with this. Hopefully, we can get it done.
It would be a very big moment for crypto as a whole. Uh but let's see what happens. So, with that being said, I hope you guys enjoyed this video. If you guys did, definitely like, subscribe, turn notifications on for more free content. You guys can follow me follow me on Twitter and join the free Discord in the description below.
And with that being said, you guys have a good one. Thanks for watching. Peace out, guys.
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