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八哥の暗号通貨サロン
一人の古い投資家が新しい投資家に贈る心の言葉

シーン：オンライン音声チャットルーム、背景には淡いカフェのホワイトノイズがある。「八哥」と呼ばれる中年男性が、少し掠れた声で熱意を込めて、新しく入った一群の新人に話しかけている。
八哥： 「えっと、新しく来た兄弟姉妹の皆さん、こんばんは。私は八哥、2017年のブルマーケットで入場し、3万が300万になる神話を見たこともあれば、300万が3万になる鬼の話も経験しました。今日はK線チャートは開かず、技術指標についても話さず、人間の言葉で、皆さんに暗号通貨の世界で生き延びるための『常識』をお話しします。」

Coinbase recently withdrew its support for the proposed U.S. Digital Asset Market Clarity Act (CLARITY Act) due to disagreements over provisions that would limit stablecoin yield programs. This "pullout" or "rug pull," as some in the White House reportedly labeled it, caused a scheduled Senate committee vote to be postponed and highlights a major split within the crypto industry and with banking interests.
Key Insights
Stablecoin Yield Dispute: The primary conflict revolves around language in the bill that Coinbase CEO Brian Armstrong argued would effectively ban passive yield on stablecoins, giving an unfair advantage to traditional banks which lobbied heavily for such restrictions.
Regulatory Authority: Coinbase also raised concerns that the draft bill would weaken the Commodity Futures Trading Commission's (CFTC) role (the industry's preferred regulator) while expanding the Securities and Exchange Commission's (SEC) influence.
Stalled Legislation: The withdrawal led to the postponement of a key Senate Banking Committee markup session, delaying Washington's most advanced attempt to establish a comprehensive regulatory framework for digital assets.
Industry Division: While Coinbase chose to withdraw support (stating "We'd rather have no bill than a bad bill"), other major crypto firms like Ripple and a16 Crypto urged continued negotiation to improve the bill, exposing a division in the industry's approach to regulation.
Financial Overview
The CLARITY Act is a proposed U.S. federal law that aims to establish a clear regulatory framework for digital assets by delineating the oversight roles of the SEC and the CFTC.
Primary Goal
Provide regulatory certainty for digital assets by defining them as either "digital commodities" (CFTC oversight) or "investment contract assets" (SEC oversight).
Key Provisions
Mandates segregation of customer and company assets, requires detailed disclosures for projects, and creates a provisional registration pathway for existing firms.
Status
The bill passed the House in July 2025 but has stalled in the Senate due to the recent disputes.
Complementary Law
It is intended to work alongside the separate GENIUS Act, which was signed into law in July 2025 and provides a federal framework for stablecoin issuers.

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#SEC #CoinbaseEffect #CLARITYAct #Ripple #Xrp🔥🔥