The big vote is *TODAY - Sept 15* - it's make or break for crypto.
- Senate is set to hold a procedural vote around 2pm ET today (6pm GMT) to advance the CLARITY Act. It needs 60 votes.
- It's still a toss-up. GOP has been pushing hard to get moderate Democrats on board, but odds on Polymarket dropped to 19% this morning from 31% yesterday.
- Bitcoin fell to ∼$76,900 ahead of the vote, down 1% today. Coinbase, Strategy down 3-4% pre-market. b5097bec34dd
*Why it's stuck:*
1. *Stablecoin yield fight:* Banks vs crypto. New compromise text released Sunday bans stablecoin issuers from paying yield just for holding, but _allows_ activity-based rewards. Coinbase CEO said he's satisfied with that language.
2. *Trump ethics:* Democrats want stronger limits on government officials profiting from crypto. Trump reported over $1B from crypto ventures last year. New draft adds state AG enforcement power, but Dems like Sen. Mark Warner say it "isn't near enough". 94cf7bec
*What the bill does:* Creates a full regulatory framework for digital assets and puts most crypto spot trading under CFTC instead of SEC — which crypto industry has wanted for years. b509
If it fails today, there's almost no calendar left to revive it this year and regulators (SEC/CFTC) will keep doing piecemeal policy instead. b3cf
Are you holding anything that would be affected if it passes/fails?
- Senate is set to hold a procedural vote around 2pm ET today (6pm GMT) to advance the CLARITY Act. It needs 60 votes.
- It's still a toss-up. GOP has been pushing hard to get moderate Democrats on board, but odds on Polymarket dropped to 19% this morning from 31% yesterday.
- Bitcoin fell to ∼$76,900 ahead of the vote, down 1% today. Coinbase, Strategy down 3-4% pre-market. b5097bec34dd
*Why it's stuck:*
1. *Stablecoin yield fight:* Banks vs crypto. New compromise text released Sunday bans stablecoin issuers from paying yield just for holding, but _allows_ activity-based rewards. Coinbase CEO said he's satisfied with that language.
2. *Trump ethics:* Democrats want stronger limits on government officials profiting from crypto. Trump reported over $1B from crypto ventures last year. New draft adds state AG enforcement power, but Dems like Sen. Mark Warner say it "isn't near enough". 94cf7bec
*What the bill does:* Creates a full regulatory framework for digital assets and puts most crypto spot trading under CFTC instead of SEC — which crypto industry has wanted for years. b509
If it fails today, there's almost no calendar left to revive it this year and regulators (SEC/CFTC) will keep doing piecemeal policy instead. b3cf
Are you holding anything that would be affected if it passes/fails?