Latest / The Paul Barron Crypto Show / Banks & Warren Unleash ATTACK on CLARITY!!🚨Jito Labs🔥Rebecca Rettig INTERVIEW

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Banks & Warren Unleash ATTACK on CLARITY!!🚨Jito Labs🔥Rebecca Rettig INTERVIEW · The Paul Barron Crypto Show

• 0:00
  Speaker 1: Banks in the industry have unleashed on clarity and over
• 0:03
  Speaker 1: one hundred amendments have actually been filed. Today, we're going
• 0:06
  Speaker 1: to break it all down with an expert that I
• 0:07
  Speaker 1: think you will love, so stick around for that. I
• 0:10
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• 0:26
  Speaker 1: Let's go over to a clip that I want to
• 0:29
  Speaker 1: get into because there is a lot happening now. As
• 0:32
  Speaker 1: of yesterday, we knew that the markup was occurring tomorrow,
• 0:35
  Speaker 1: and now, of course our anticipation appears to be happening.
• 0:39
  Speaker 1: So take a look at this.
• 0:40
  Speaker 2: One cryptomarket structure legislation going to markup on Thursday, which
• 0:45
  Speaker 2: would be a historic moment, and the energy here is
• 0:47
  Speaker 2: just palpable. Thirty five percent chance of passage at this
• 0:52
  Speaker 2: point in time.
• 0:52
  Speaker 3: I was at sixty last week, so now I'm ninety.
• 0:57
  Speaker 1: I think the banks could still derail it. I mean frankly,
• 1:00
  Speaker 1: I think they're being disingenuous. I think they're playing a
• 1:03
  Speaker 1: cynical game.
• 1:04
  Speaker 2: Three hundred and nine pages, really, three hundred and nine pages,
• 1:07
  Speaker 2: like everybody had time to read through that.
• 1:09
  Speaker 1: I'm reading a self help book right now. I can't
• 1:11
  Speaker 1: read it in one day. I'm dehydrated. I don't want
• 1:15
  Speaker 1: to put fear in everybody. I don't find myself agreeing
• 1:17
  Speaker 1: with Schumer on many things in the world. I kind
• 1:20
  Speaker 1: of get it at this point. This is a big hurdle.
• 1:22
  Speaker 2: And when you see things like this Housing Act in there,
• 1:24
  Speaker 2: you wonder, and you have the banks up the Republican's
• 1:27
  Speaker 2: ass like.
• 1:28
  Speaker 4: But my money still lies on the bankers. They're going
• 1:31
  Speaker 4: to win that battle.
• 1:33
  Speaker 1: I just don't see it happening, all right. So let
• 1:35
  Speaker 1: me bring in Rebecca Reddick, who is coming in from
• 1:38
  Speaker 1: Gito Labs. How are you there, Rebecca. If we put
• 1:43
  Speaker 1: this up yesterday, was it yesterday? I think it was yesterday,
• 1:48
  Speaker 1: and it was our anticipation of one hundred amendments, well
• 1:52
  Speaker 1: we missed it by a little bit, so one hundred
• 1:53
  Speaker 1: and thirty five amendments with that many coming in and
• 1:57
  Speaker 1: the kind of thing that we're seeing right now, First
• 2:00
  Speaker 1: of all, what was your first take on what you
• 2:03
  Speaker 1: saw coming out of DC this morning.
• 2:06
  Speaker 2: You know, this number of amendments isn't surprising, quite honestly,
• 2:10
  Speaker 2: And we saw maybe this level or close to this
• 2:13
  Speaker 2: level last time.
• 2:14
  Speaker 4: The markept was.
• 2:15
  Speaker 2: Anticipated before it got shut down in January, so you know,
• 2:19
  Speaker 2: we were expecting this.
• 2:20
  Speaker 4: I think we were.
• 2:21
  Speaker 2: Expecting a lot of the types of amendments we saw,
• 2:23
  Speaker 2: and as your question from the clip show, we certainly
• 2:27
  Speaker 2: were expecting a number from.
• 2:29
  Speaker 4: Elizabeth Warren too.
• 2:29
  Speaker 1: Yeah, for sure. Well you've got it right here. More
• 2:33
  Speaker 1: than one hundred minutes have been submitted ahead of the
• 2:35
  Speaker 1: Centate Banking Committee Market vote. This is all coming in
• 2:38
  Speaker 1: right now. There were some wild ones too, coming in
• 2:40
  Speaker 1: from Elizabeth Warren, everybody that had amendments locked in. You've
• 2:45
  Speaker 1: got also books there, britt There, Cortes, Master Mastow Gago,
• 2:50
  Speaker 1: which we anticipated a lot there, and then of course
• 2:53
  Speaker 1: the Warren amendments, which have pretty much kind of taken
• 2:56
  Speaker 1: over the bottom half of the document other than Reid.
• 2:59
  Speaker 1: So the point is we've got a lot. But this
• 3:02
  Speaker 1: goes into anti DeFi and that is one of the
• 3:05
  Speaker 1: things that I'm most concerned with. Let me zoom in
• 3:07
  Speaker 1: on these right here, which is coming in from the
• 3:11
  Speaker 1: DeFi Education Fund with AMM sixteen, this of course is
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  Speaker 1: rewriting BRCA. This is a problem. This is a big problem.
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  Speaker 1: Then you've got seventeen also striking protections for non controlling developers.
• 3:26
  Speaker 1: I mean, this is really bad for DeFi. The way
• 3:28
  Speaker 1: it is right now, it almost negates the entire DeFi
• 3:33
  Speaker 1: section of the original proposal. So what do you make
• 3:37
  Speaker 1: of this so far in terms of what's happening right
• 3:40
  Speaker 1: now in regards to this great question.
• 3:43
  Speaker 2: Let's break it down a little bit so your viewers
• 3:45
  Speaker 2: who may not have as much detail on policy can understand. So,
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  Speaker 2: the BRCA is a blockchain regulatory certain dat It's really
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  Speaker 2: important because.
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  Speaker 4: That's what that does.
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  Speaker 2: And it was originally proposed in the House by in
• 3:56
  Speaker 2: a bi person way, by two big longtime crypto after
• 4:01
  Speaker 2: that non controlling software developers. So if you don't take custody,
• 4:04
  Speaker 2: and you don't take control of user funds, you will
• 4:07
  Speaker 2: not be designated as a money transmitter who has to
• 4:11
  Speaker 2: registers of money services business under federal law and then
• 4:13
  Speaker 2: take on all the obligations of the Bank Secrecy Act.
• 4:16
  Speaker 2: And it's really really important because as we've seen from
• 4:20
  Speaker 2: the Tornado cashroom and Storm case and other investigations, the
• 4:23
  Speaker 2: Samurai case, things like that there were questions under a
• 4:28
  Speaker 2: criminal part or part of.
• 4:29
  Speaker 3: The Criminal Code a section nineteen sixty.
• 4:32
  Speaker 2: Where people were being charged for failing to registers of
• 4:36
  Speaker 2: money services business when they were defied developers. Obviously, some
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  Speaker 2: of the facts of the cases I mentioned are very specific,
• 4:43
  Speaker 2: and we're not going to paint everyone with that brush,
• 4:45
  Speaker 2: but we do need to have developers in this country
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  Speaker 2: have those protections, and so stripping out protections for non
• 4:52
  Speaker 2: controlling software.
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  Speaker 3: Developers will chill innovation in.
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  Speaker 4: The United States.
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  Speaker 2: And one of the things that Clarity is really meant
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  Speaker 2: to do is to give us all who are builders.
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  Speaker 3: In this space the ability to move forward and.
• 5:04
  Speaker 2: Innovate without fear and just being able to run our
• 5:07
  Speaker 2: businesses like many other tech companies in the United States.
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  Speaker 1: And to the point here is this is basically an
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  Speaker 1: innovation killer. Do you think there's a possibility that any
• 5:16
  Speaker 1: of this sticks.
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  Speaker 2: Senator Cortez Masto has been really out there on making
• 5:21
  Speaker 2: sure law enforcement has all the tools that it needs
• 5:24
  Speaker 2: and also ensuring that we have people who we can
• 5:27
  Speaker 2: hold accountable, even in these autonomous and permissionless software systems.
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  Speaker 2: I don't know if these amendments will hold, but I
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  Speaker 2: think they may be put out there in order to
• 5:38
  Speaker 2: try to push a compromise in some way.
• 5:40
  Speaker 4: Shape or form.
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  Speaker 1: This was one of the amendments that came in from Warren.
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  Speaker 1: Actually four of the amendments, I guess in reference to
• 5:47
  Speaker 1: capping credit card interest rates now was thrown into this. Hey,
• 5:51
  Speaker 1: if you like twenty five Okay, not twenty five, maybe
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  Speaker 1: twenty fifteen, ten. You know, it just seems like this
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  Speaker 1: is a little bit silly in terms of the kind
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  Speaker 1: of addressing of a major bill that really resets the
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  Speaker 1: financial structure here in the United States. Is this I mean,
• 6:07
  Speaker 1: you've been in DC long enough, you've seen a lot
• 6:09
  Speaker 1: of this kind of going back and forth. Is this typical?
• 6:12
  Speaker 4: Honestly?
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  Speaker 2: Yes, people have interests they want to see if they
• 6:15
  Speaker 2: can push them through. They least want people like us
• 6:18
  Speaker 2: to be talking about them and recognizing them because it
• 6:21
  Speaker 2: just gives more eartime to some of their causes.
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  Speaker 3: So I do actually think this is typical. I don't
• 6:26
  Speaker 3: know that may be a little cynical.
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  Speaker 4: But I do think it's difficult.
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  Speaker 1: One of the I think the most idiotic was this
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  Speaker 1: one right here where Jack Read was prohibiting crypto from
• 6:35
  Speaker 1: being used as legal tender for paying taxes. So now
• 6:40
  Speaker 1: they don't want crypto as tax money. I guess in general,
• 6:42
  Speaker 1: I think it's basically saying.
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  Speaker 2: That the government can't accept like bitcoin instead of cash
• 6:47
  Speaker 2: or something like that. And we're still at the place
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  Speaker 2: where under the tax laws in the US, cryptos categorized
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  Speaker 2: as property and you can't use your property to pay
• 6:54
  Speaker 2: your taxes. So I don't even know, if I didn't
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  Speaker 2: even really.
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  Speaker 1: Understand this well why it's in there, would think that
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  Speaker 1: would find its way into an actual tax regulation. This
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  Speaker 1: was another issue of the situation where the bankers were
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  Speaker 1: pushing back saying, hey, we don't really agree with any
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  Speaker 1: of this, and this was in reference to debating on
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  Speaker 1: X or social media in general. You know, we we
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  Speaker 1: think social is the place to debate that. Unfortunately, almost
• 7:20
  Speaker 1: all of business, next generation investors and really anybody that
• 7:25
  Speaker 1: understands what's going this is where the debate is happening,
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  Speaker 1: and banking should have been there.
• 7:30
  Speaker 4: Why the crypto policy.
• 7:34
  Speaker 2: Sort of power structure has come from X And the
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  Speaker 2: longer you're in DC, the more you hear the staffers
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  Speaker 2: read it or we can't do this in the bill
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  Speaker 2: because Senator or Representative X, Y and Z reads Twitter.
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  Speaker 2: And when this one Twitter personality says they don't like
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  Speaker 2: this provision of.
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  Speaker 4: The bill, that I'll have a ripple effect.
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  Speaker 2: So I'm saying we're very professional and trying to downplay
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  Speaker 2: policy debates happening on x really not staying current to
• 8:01
  Speaker 2: where things are and to understanding how power and the
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  Speaker 2: shift of power has really cheap you know, occurred in
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  Speaker 2: the last few years. Beined back when we were having
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  Speaker 2: debates about the broker rule many years ago.
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  Speaker 3: Crypto really got things shut down in a different way
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  Speaker 3: because they used Twitter.
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  Speaker 2: So I think we's it's fairly narrow minded or antiquidd
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  Speaker 2: not to think that.
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  Speaker 4: Policy well crapping on it.
• 8:27
  Speaker 1: It definitely shows their hand in terms of not being
• 8:30
  Speaker 1: ready for next generation finance, which is the issue right now. However,
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  Speaker 1: over the weekend you had the ABA, the American Bankers
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  Speaker 1: Association absolutely got nuts on sending more letters. You get
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  Speaker 1: eight thousand letters to the Senate offices, all urging against
• 8:44
  Speaker 1: the stablecorn yield compromise. Will these letters make a difference
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  Speaker 1: to the Senators that are there right now reviewing this markup.
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  Speaker 3: Well, I don't want to be.
• 8:54
  Speaker 2: Untrue to our people because to go back to the
• 8:56
  Speaker 2: broker rule, we did a whole lot of writing campaign.
• 8:58
  Speaker 2: Now it was automated, and we had the like forty
• 9:00
  Speaker 2: thousand litters. I don't remember exactly the number. I don't
• 9:05
  Speaker 2: know if the letters themselves are going to make a difference.
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  Speaker 2: I do think the way that banks are I think
• 9:10
  Speaker 2: putting pressure on particular members of Congress may have a
• 9:16
  Speaker 2: bearing when things get out of markup and onto the floor,
• 9:19
  Speaker 2: But that remains to be seen that you know, I
• 9:22
  Speaker 2: think people do like a writing camp saying I'm not
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  Speaker 2: sure this is going to change anything in the markup.
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  Speaker 1: You look at what's standing with Crypto has done. The
• 9:29
  Speaker 1: banking lobbist popped out there eight AK obviously stand with
• 9:32
  Speaker 1: Crypto doing much more. In terms of frequency. There are
• 9:35
  Speaker 1: three hundred thousand emails in the past few months, one
• 9:38
  Speaker 1: point five million times in terms of contacting lawmaker. That's insane.
• 9:43
  Speaker 1: How is this not just a slam dunk with all
• 9:45
  Speaker 1: of these sinners one point five million contacts? How would
• 9:50
  Speaker 1: this not be the will of the people?
• 9:52
  Speaker 3: You know, that's a great question.
• 9:53
  Speaker 2: It goes back to what you said before, which I
• 9:56
  Speaker 2: haven't heard a ton of people say, but I've long
• 9:58
  Speaker 2: time felt this bill will be the most sweeping change
• 10:02
  Speaker 2: to financial law and regulation that we've seen since Frank,
• 10:06
  Speaker 2: which was you know, almost two decades ago at this point,
• 10:09
  Speaker 2: or a little less than that. And I think that
• 10:13
  Speaker 2: it also comes with this technology bent to it that
• 10:19
  Speaker 2: has given concerns, you know, by various either older members
• 10:23
  Speaker 2: of Congress or people who are less familiar with how
• 10:25
  Speaker 2: technology works.
• 10:26
  Speaker 3: And there is some fear around technology.
• 10:29
  Speaker 4: And DC by some. And so I think seeing.
• 10:32
  Speaker 2: This huge overhaul of certain types of financial laws that
• 10:35
  Speaker 2: come along with technology may make it hard for people to.
• 10:38
  Speaker 4: Just one hundred percent jump on board.
• 10:40
  Speaker 3: Plus bills take a long time to do.
• 10:42
  Speaker 2: Not everybody is always, even if it makes sense, one
• 10:45
  Speaker 2: hundred percent on board, because they have different constituents.
• 10:48
  Speaker 3: And you know, people saying it will impact them in
• 10:50
  Speaker 3: different ways.
• 10:50
  Speaker 2: So I don't know if I think, you know, just
• 10:52
  Speaker 2: the letter writing campaigns or the phone calls are going
• 10:54
  Speaker 2: to be the answer in full.
• 10:56
  Speaker 1: What about the lobbies coming from some of these unions.
• 11:01
  Speaker 1: You've got the police lobby now targeting developer protections. This
• 11:05
  Speaker 1: is going right after Section two R six oh four.
• 11:08
  Speaker 1: So what do you think about that? I mean, they're
• 11:10
  Speaker 1: pulling out all the stops here. It's coming from all angles.
• 11:13
  Speaker 4: They are six o four is the BRCA. It's what
• 11:16
  Speaker 4: we were talking about earlier.
• 11:19
  Speaker 2: And I think that one this does not the BRCA
• 11:24
  Speaker 2: doesn't take away any tool that law enforcement has, and
• 11:28
  Speaker 2: it doesn't take away the ability to use faederal criminal
• 11:31
  Speaker 2: laws either.
• 11:33
  Speaker 4: It doesn't actually touch what law enforcement does.
• 11:35
  Speaker 2: And I think there are other parts of the bill
• 11:37
  Speaker 2: that are going to enable better tools for law enforcement
• 11:40
  Speaker 2: in many different ways. And I think focusing solely narrowly
• 11:43
  Speaker 2: on the BRCA and not looking at all the other
• 11:45
  Speaker 2: tools that the build will facilitate for law enforcement is
• 11:48
  Speaker 2: you know.
• 11:49
  Speaker 3: It's just my epic. It's looking at one thing. But
• 11:51
  Speaker 3: this has look DeFi and the.
• 11:52
  Speaker 4: VRCA has been.
• 11:56
  Speaker 3: Yeah, tip of the spear in many ways.
• 11:58
  Speaker 2: And I will say the Defied Education Fund has been
• 12:00
  Speaker 2: an amazing advocate on this front.
• 12:03
  Speaker 1: Do you think there is any chance that this might
• 12:06
  Speaker 1: end up on the negotiation table like we're going to
• 12:10
  Speaker 1: give you this if you don't if you give us this.
• 12:13
  Speaker 2: There already has been language that has been suggested about
• 12:17
  Speaker 2: intent that has been added to this version of the
• 12:20
  Speaker 2: VRCA versus the January version of the VRCA, which says,
• 12:25
  Speaker 2: if you have actual intent to be a money transmitter
• 12:29
  Speaker 2: and to facilitate improper transfers of money, then you don't
• 12:33
  Speaker 2: get protected by the Session.
• 12:34
  Speaker 4: That's us codify the law. So that's fine.
• 12:37
  Speaker 2: So there may be some additional negotiation around language, but elimination.
• 12:40
  Speaker 3: Of the DRCA from this bill is a red line.
• 12:44
  Speaker 4: It's a red line for the White House.
• 12:45
  Speaker 2: They've already been very very clear about that, and it
• 12:48
  Speaker 2: is definitely a red line for the industry.
• 12:50
  Speaker 1: Listen, we've got some crypto professional fud actors out there.
• 12:54
  Speaker 1: One of them Ben Mackenzie. You know, he's got the
• 12:57
  Speaker 1: Order of Easy Money. Everyone is lying to his new
• 13:01
  Speaker 1: you know, screening of his documentary it went out. There
• 13:03
  Speaker 1: lots of pr around this timing. It's very interesting, you know,
• 13:09
  Speaker 1: obviously coming at the same time that all of this
• 13:11
  Speaker 1: is happening. What do you make of these professional I
• 13:14
  Speaker 1: feel like these are professional actors now that are in
• 13:16
  Speaker 1: the market.
• 13:17
  Speaker 2: Yeah, well you were much more politic than I thought
• 13:20
  Speaker 2: you did. I think the timing was very deliberate, and
• 13:22
  Speaker 2: I will tell you the word coming out of DC
• 13:24
  Speaker 2: last night is that it was not a well attended screening,
• 13:28
  Speaker 2: So do with that, but you will.
• 13:32
  Speaker 3: And I think that people have made.
• 13:36
  Speaker 2: A profession out of being cryptoskeptics, and we've seen it
• 13:40
  Speaker 2: and it's a lot of those people have fallen out,
• 13:43
  Speaker 2: and I don't think it is going to end well
• 13:46
  Speaker 2: because it's I mean, to have this type of three
• 13:49
  Speaker 2: hundred and nine pages of a bill means this is
• 13:53
  Speaker 2: a serious industry doing serious things and we need serious
• 13:56
  Speaker 2: laws for it too.
• 13:58
  Speaker 1: Yeah, no doubt. Latest update is that can will vote yes.
• 14:02
  Speaker 1: It is I don't know if this is coming out
• 14:05
  Speaker 1: as fact that these are coming across the wires right
• 14:08
  Speaker 1: now basically saying hey, we're looking at going into this.
• 14:11
  Speaker 1: He's got to deal with Chairman Scott. What do you
• 14:14
  Speaker 1: make of this? Do you think this would possibly sway
• 14:16
  Speaker 1: things a bit?
• 14:18
  Speaker 2: And I think this is getting out of committee regardless,
• 14:20
  Speaker 2: And the question is then when we'll get to the
• 14:22
  Speaker 2: Senate floor. I think the deal with cham has gotten
• 14:25
  Speaker 2: Creating fiduciary duty for people within the crypto world is interesting.
• 14:29
  Speaker 2: I'm not sure if that's a euphemism for ethics, because
• 14:32
  Speaker 2: obviously that's still a big issue that hasn't been the
• 14:34
  Speaker 2: resolved yet.
• 14:34
  Speaker 1: But I think that maybe all right, So that's at
• 14:37
  Speaker 1: least that's somewhat of a positive sign. I think it
• 14:39
  Speaker 1: also boils down to where we stand on the senators,
• 14:43
  Speaker 1: especially on the Democratic side, that are aligning. Masto is
• 14:47
  Speaker 1: one of the key ones that we've talked about with
• 14:50
  Speaker 1: a couple of other analysts out there. Let's go to
• 14:52
  Speaker 1: the Securitized news because this was interesting right here, Securitized
• 14:56
  Speaker 1: Jump Trading and Jupiter Exchange now launching fully on chain
• 15:00
  Speaker 1: regulated trading for token is ised equities. Do you think
• 15:03
  Speaker 1: that Were you expecting this to ever happen? Because they
• 15:06
  Speaker 1: were kind of anti this for quite some time.
• 15:09
  Speaker 2: So I don't know if I think this is going
• 15:10
  Speaker 2: to be permissionless, though I think these are permissioned pools
• 15:14
  Speaker 2: because I don't know exactly how it works. I haven't
• 15:17
  Speaker 2: looked exactly at the tech, but I don't know if
• 15:20
  Speaker 2: you can do fully permissionless trading of equity securities yet,
• 15:25
  Speaker 2: especially when you have the they're actually holding the underlying
• 15:29
  Speaker 2: So I think these probably are permission slash KYC.
• 15:32
  Speaker 3: Pools, But again I could be wrong.
• 15:34
  Speaker 2: I just don't know anyone who's enabled permissionless equities trading
• 15:38
  Speaker 2: where the underlying is being held yet.
• 15:40
  Speaker 1: Okay, so would would JPX do permissionless JTX?
• 15:45
  Speaker 4: Sorry, oh, JTX.
• 15:48
  Speaker 3: All those features are yet to come.
• 15:50
  Speaker 2: We'll launch in July, and I will launch a Spot crypto,
• 15:55
  Speaker 2: but we will.
• 15:55
  Speaker 3: Have things being enabled over time, and I'm working.
• 15:58
  Speaker 1: On the the what you said, of course, I'm feeling
• 16:02
  Speaker 1: that that might be a possibility. Don't No, I can't
• 16:06
  Speaker 1: read you right now. I can't read you if you've
• 16:08
  Speaker 1: given me anything there. When you look at Purps, Solana
• 16:12
  Speaker 1: secured the Purpse handle on X do you think we'll
• 16:15
  Speaker 1: see us Purpse after Clarity?
• 16:18
  Speaker 3: So Clarity doesn't touch Purpse at all.
• 16:21
  Speaker 2: Actually, it only touches Spot crypto trading and would enable
• 16:25
  Speaker 2: the CFTC to have jurisdiction over Spot commodity trading in
• 16:29
  Speaker 2: the digital asset space, which they don't have jurisdiction over
• 16:32
  Speaker 2: Spot now except for fraud and anti manipulation.
• 16:35
  Speaker 4: So no market maunifulation, no fraud with.
• 16:37
  Speaker 2: Respect to Spot, but otherwise they have no jurisdiction. They
• 16:40
  Speaker 2: just actually do complicated derivatives. Clarity doesn't touch any types
• 16:43
  Speaker 2: of derivatives that are already regulated by the Commodity Exchange Act.
• 16:48
  Speaker 2: And so what's what we need to have PERPS trading
• 16:51
  Speaker 2: in the US is guidance and rulemaking from the CFTC.
• 16:55
  Speaker 1: Do you think Selig will roll that out? Yeah? Okay,
• 16:58
  Speaker 1: so it's coming, yes, all right, So let's get into
• 17:01
  Speaker 1: our lightly row with you. Clarity markup is a surprising
• 17:04
  Speaker 1: bipartisan success. Do you think that will actually happen? Yeah, no,
• 17:08
  Speaker 1: I'm in agreement with you. There not a chance, but
• 17:11
  Speaker 1: we'll work our way through it. If markup fails, it's over. Disagree, disagree?
• 17:17
  Speaker 1: What is the vehicle out of this mess?
• 17:20
  Speaker 4: Great question.
• 17:21
  Speaker 2: I've been through four or five different crypto market structure
• 17:27
  Speaker 2: bills in my policy life in the crypto space.
• 17:31
  Speaker 3: This won't be over.
• 17:32
  Speaker 4: I think.
• 17:33
  Speaker 3: Look, this is the closest we've ever band and.
• 17:34
  Speaker 2: We really need to work together across the line now
• 17:37
  Speaker 2: and it will be not positive for the industry. But
• 17:40
  Speaker 2: I don't think everybody will walk away from the table.
• 17:42
  Speaker 4: They will find another opportunity.
• 17:44
  Speaker 3: They will make whatever deal is the need to make.
• 17:46
  Speaker 4: But I don't think people are going to let it go.
• 17:48
  Speaker 1: Okay, all right, Clarity will be meddled with after successful
• 17:52
  Speaker 1: markup and become the opposite of what we wanted, which
• 17:55
  Speaker 1: feels like it's already there.
• 17:57
  Speaker 2: You think we'll be well, I disagree it will be meddled,
• 18:00
  Speaker 2: but I don't think it will become the opposite of
• 18:01
  Speaker 2: what we wanted.
• 18:02
  Speaker 3: So as a lawyer, because they disagree to the whole thing, all.
• 18:05
  Speaker 1: Right, I'm going to be in the middle there because
• 18:07
  Speaker 1: I'm concerned about that right now. Because the power is there.
• 18:11
  Speaker 1: What will Democrats mention more during the markup? You think
• 18:14
  Speaker 1: they'll go after the criminality or something like the ethics issue.
• 18:18
  Speaker 4: That's such a great question.
• 18:20
  Speaker 3: Well, if world liberty is a euphemism.
• 18:22
  Speaker 2: For ethics, they will talk a lot about ethics because
• 18:25
  Speaker 2: it's just not a subtle.
• 18:26
  Speaker 4: Issue, you know enough.
• 18:27
  Speaker 1: Yet I'm going to go opposite. I think they're going
• 18:30
  Speaker 1: after the criminality of it, because that's it's just, you know,
• 18:33
  Speaker 1: it's Warren's base, you know, I.
• 18:36
  Speaker 2: Know, And honestly that was my first instinct, and I
• 18:39
  Speaker 2: really hate going against my gut.
• 18:40
  Speaker 4: But you know, let's see what it.
• 18:43
  Speaker 1: Citadel and DTCC are secretly behind the anti DeFi Amendment
• 18:48
  Speaker 1: to protect TRADFI.
• 18:50
  Speaker 3: I don't think that the dcc CC.
• 18:53
  Speaker 2: But I do think Simadel Sefma and others certainly are
• 18:56
  Speaker 2: pushing anti defight.
• 18:59
  Speaker 1: I'll go middle of the world there, I'm gonna I'm
• 19:01
  Speaker 1: going to in agreement with Citadel. Clarity passing equals a
• 19:05
  Speaker 1: similar scenario like what Ripple did when they won their
• 19:08
  Speaker 1: court case, but now it would happen for every blockchain.
• 19:10
  Speaker 1: In terms of the market, what do you think, Yes.
• 19:13
  Speaker 2: Yeah, I don't know about a pump, but yeah, I
• 19:14
  Speaker 2: think it would be very net positive for the market.
• 19:17
  Speaker 1: Posive in the middle. Yeah, you got you, all right,
• 19:21
  Speaker 1: I think it's going to be net positive. Jt X.
• 19:23
  Speaker 1: There we go, unleash his products the day after Trump
• 19:26
  Speaker 1: signs clarity. Yes, that was that was That was a
• 19:32
  Speaker 1: softball question. So Rebecca, all right.
• 19:34
  Speaker 3: Layup, well it has you know what I had to
• 19:36
  Speaker 3: do that timing in.
• 19:37
  Speaker 1: My head when the buildings signed. Oh yes, okay, yeah,
• 19:41
  Speaker 1: Well it's summer, so you guys got to get working
• 19:43
  Speaker 1: over there. MTV revenue will ferociously return after clarity. Do
• 19:47
  Speaker 1: you think that will happen?
• 19:48
  Speaker 2: I mean it comes from usage of blockchains in many ways, right,
• 19:52
  Speaker 2: there are positive uses of a gene revenue and from
• 19:57
  Speaker 2: that perspective.
• 19:58
  Speaker 1: Sure with you on that one, and we move into this,
• 20:02
  Speaker 1: what would theoretically happen if GDO decided Juda Labs decided
• 20:06
  Speaker 1: it wanted to go public?
• 20:08
  Speaker 4: Wow?
• 20:10
  Speaker 2: You know, my lawyer brain is exploding right now, but
• 20:14
  Speaker 2: my excited brain is also doing the same.
• 20:18
  Speaker 1: We're gonna go with unity, Unity, all right, Okay, I
• 20:21
  Speaker 1: can't answer that question. I don't know. I don't have
• 20:23
  Speaker 1: any inside coverage here.
• 20:25
  Speaker 2: It's not happening, but I just have to go through afications.
• 20:30
  Speaker 1: But if if Okay, Yeah, in a perfect world, Anthropics
• 20:33
  Speaker 1: SVPs now are officially meme coins. You know, we talked
• 20:36
  Speaker 1: about this a little bit pre show. You think that's
• 20:39
  Speaker 1: the case now, yeah?
• 20:41
  Speaker 3: Lovely?
• 20:41
  Speaker 1: All right, there you go, guys, meme coins on your
• 20:44
  Speaker 1: SVPs out there on the secondary market tokens. All right, listen, Rebecca,
• 20:49
  Speaker 1: it has been great having you on. We're going to
• 20:50
  Speaker 1: cover a lot more this week on what's happening with Clarity.
• 20:53
  Speaker 1: We always love getting people like you with inside insights
• 20:58
  Speaker 1: to what's happening out there, So thanks for coming in.
• 21:00
  Speaker 3: Him, Thanks for having me.
• 21:08
  Speaker 1: If you like this video, hit like and subscribe, drop
• 21:10
  Speaker 1: a comment down below, and also join our free private
• 21:13
  Speaker 1: member group. The link is in the description mm hmm