Latest / The Paul Barron Crypto Show / HISTORIC Crypto Bills Pass House!!!🔥Stablecoin Bill Officially Signed Into Law!🚨

Transcript

HISTORIC Crypto Bills Pass House!!!🔥Stablecoin Bill Officially Signed Into Law!🚨 · The Paul Barron Crypto Show

• 0:06
  Speaker 1: All right, let's get into it today. This is huge
• 0:08
  Speaker 1: because we are talking about possibly the biggest thing that's
• 0:12
  Speaker 1: ever happened in crypto, and today we'll break it down
• 0:14
  Speaker 1: for you. My name is Paul Baron, Welcome back in
• 0:16
  Speaker 1: to the show. Let's get started. I do want to
• 0:18
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• 0:20
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• 0:41
  Speaker 1: and get started there. Let's go into the first clip
• 0:44
  Speaker 1: that'll give you guys a little bit of information around
• 0:48
  Speaker 1: the Clarity Act, the Genius Act, and also this anti
• 0:52
  Speaker 1: CBDC bill. Take a look.
• 0:54
  Speaker 2: It's sometimes hard to separate the real from the fake
• 0:56
  Speaker 2: in this town. Blockchain technology Web three will transform every
• 1:01
  Speaker 2: single industry, and that transformation will happen much faster than
• 1:06
  Speaker 2: people realize. If we can keep government from continuing to
• 1:10
  Speaker 2: screw this up. We tend to overstate the impact of
• 1:14
  Speaker 2: what we do in this town. Everything is historic, but
• 1:17
  Speaker 2: this is different. This is huge. This is a watershed
• 1:23
  Speaker 2: victory for this country, a golden age of innovation and
• 1:27
  Speaker 2: the golden age of digital assets. Today we do something real.
• 1:34
  Speaker 1: All right, So I'm in agreement with that. I think
• 1:36
  Speaker 1: we are at an inflection point here in the United
• 1:38
  Speaker 1: States because we have been playing ketchup for a very
• 1:41
  Speaker 1: long time. Almost every country in the world has been
• 1:45
  Speaker 1: edging against us and beating us to the punch in
• 1:48
  Speaker 1: digital assets. Well that's all about to change. The Clarity
• 1:51
  Speaker 1: Act passes the House with a monster bipartisan vote two
• 1:55
  Speaker 1: ninety four to one point thirty four. This is huge
• 1:57
  Speaker 1: because of the amount of Democrats that we're winning the
• 2:00
  Speaker 1: Republicans this because this is even more Democrats than that
• 2:03
  Speaker 1: we're anticipated. So this is a marker. And I would
• 2:05
  Speaker 1: agree that the market structure legislation that is in loop
• 2:09
  Speaker 1: right now to go to the Senate and most likely
• 2:12
  Speaker 1: get passed because of the bipartisan support. This will be
• 2:16
  Speaker 1: huge for crypto in general, and it also starts to
• 2:20
  Speaker 1: change maybe the future of where the United States is
• 2:23
  Speaker 1: when it comes to digital assets. Clarity Act signed in
• 2:26
  Speaker 1: a law in twenty twenty five. Now Polymarket has it
• 2:29
  Speaker 1: around eighty percent. Very good percentage right there. Zooming in
• 2:33
  Speaker 1: on that, guys, this is good news for anybody that's
• 2:36
  Speaker 1: been in crypto through the past five years. You've had
• 2:40
  Speaker 1: your upsure downs. We've seen everything from FTX and many
• 2:43
  Speaker 1: more issues that have faced us. All of that is
• 2:46
  Speaker 1: about to change, and part of it is what happened yesterday.
• 2:50
  Speaker 1: And of course I want to get into the stable
• 2:53
  Speaker 1: Coin bill because you have to remember the amount of
• 2:56
  Speaker 1: pushback that we received from the lawmakers here, the one
• 3:00
  Speaker 1: that still was fighting to the end.
• 3:02
  Speaker 3: Take a look, well, if someone says that something that
• 3:05
  Speaker 3: is neither a coin nor stable is a stable coin,
• 3:07
  Speaker 3: you might question why they're saying that, because they aren't stable. Terra,
• 3:10
  Speaker 3: which was a stable coin, collapsed to thirty cents and
• 3:13
  Speaker 3: wiped out forty billion dollars in investor value. That was
• 3:16
  Speaker 3: an algorithmic stable coin.
• 3:18
  Speaker 4: That's why we need the bill.
• 3:19
  Speaker 5: The gentleman is actually making the argument for us.
• 3:21
  Speaker 1: He's making the argument for why he should support.
• 3:25
  Speaker 6: The Genius Act because of non stable stable coins that
• 3:29
  Speaker 6: are out there.
• 3:30
  Speaker 1: All right, there are a lot of regulatory alignments within this,
• 3:34
  Speaker 1: and what I mean by that is the requirement for
• 3:36
  Speaker 1: you to hold and distribute a stable coin is going
• 3:39
  Speaker 1: to be significant, so we would not see the kind
• 3:42
  Speaker 1: of things that have happened in the market before. All right,
• 3:44
  Speaker 1: So let me go to this tweet right here, Chuck
• 3:46
  Speaker 1: Fleischmann coming in on the good news, and that of
• 3:49
  Speaker 1: course was the Genius Act passing through the House. One
• 3:52
  Speaker 1: other thing, of course, right there, President Trump happening at
• 3:55
  Speaker 1: two thirty, So you see eleanor Trra, she's going to
• 3:58
  Speaker 1: be there. I hope we'll get some information and some
• 4:00
  Speaker 1: tweets from her. So if you guys were following along
• 4:03
  Speaker 1: over the last few days, lots of drama happening. The
• 4:06
  Speaker 1: vote was paused, it looked like it wasn't going to
• 4:08
  Speaker 1: go through. Then of course the revote happened. Well, all
• 4:11
  Speaker 1: of it was really centered around cbdc's and the integration
• 4:15
  Speaker 1: of that. This was the Democrats actually defending CBDCs. Take
• 4:20
  Speaker 1: a look at this.
• 4:21
  Speaker 2: This is one of the most ignorant things I have
• 4:24
  Speaker 2: seen this House produce in a very very long time.
• 4:28
  Speaker 7: The general public does not understand all of this.
• 4:31
  Speaker 5: Nobody knows whether a CBDC is a good idea.
• 4:35
  Speaker 8: It's not clear.
• 4:36
  Speaker 7: It's time for the United States government to take charge,
• 4:41
  Speaker 7: and our central bank must be involved so that we
• 4:45
  Speaker 7: don't have issuing crypto or anything else without the federal
• 4:50
  Speaker 7: government knowing and being in control.
• 4:54
  Speaker 5: Yes, it could be abused by an overwhelming executive. It
• 4:57
  Speaker 5: could be used for monetary policy, bad idea. It could
• 5:00
  Speaker 5: let be used for taxation, bad idea. I don't know,
• 5:02
  Speaker 5: but we're going to forbid to figure out whether it's.
• 5:06
  Speaker 8: A good idea or a bad idea.
• 5:07
  Speaker 7: To record everything in everybody who owns token. For example,
• 5:13
  Speaker 7: JP margan Chase has estimated that one hundred billion could
• 5:17
  Speaker 7: be saved if a wholesale CBDC is adapted.
• 5:22
  Speaker 1: All right, this is the point that we've talked about
• 5:25
  Speaker 1: many times, and as you guys know, our channel is
• 5:27
  Speaker 1: a very anti CBDC. I'm in agreement with that any
• 5:30
  Speaker 1: kind of central bank digital currency is not a good
• 5:33
  Speaker 1: thing for society, and I think the powers that be
• 5:37
  Speaker 1: are holding on with their last potential grasp. And even
• 5:41
  Speaker 1: we did a video on this the other day talking
• 5:44
  Speaker 1: about the banks kind of panicking around where all of
• 5:46
  Speaker 1: this could go. And I think this is the thing
• 5:49
  Speaker 1: that we're dealing with right now. With the passage of
• 5:51
  Speaker 1: the Genius Act. It starts to shift the balance of power,
• 5:55
  Speaker 1: and it starts to put a lot of pressure on
• 5:57
  Speaker 1: many of the banks, of course, of which now are
• 5:59
  Speaker 1: going to anticipate in this system. Even I saw tweets
• 6:02
  Speaker 1: out by Visa MasterCards saying that stable coins were good.
• 6:05
  Speaker 1: We're going to be able to utilize this to lower rates.
• 6:07
  Speaker 1: Everybody's trying to position now because they understand where the
• 6:11
  Speaker 1: future is heading. I want to go to another clip
• 6:13
  Speaker 1: here real quick, because this gets into Warren Davison saying
• 6:17
  Speaker 1: we don't even need to worry about zbdcs, don't need
• 6:19
  Speaker 1: to study it nothing.
• 6:20
  Speaker 5: Take a look, our colleagues on the other side of
• 6:22
  Speaker 5: this debate act like we need to study communism a
• 6:25
  Speaker 5: little harder to figure out whether it works or not.
• 6:28
  Speaker 5: They decided that they were going to spy on your
• 6:30
  Speaker 5: bank accounts if you had six hundred dollars in your
• 6:32
  Speaker 5: bank and the public said, will you what why you
• 6:34
  Speaker 5: spine on my bank account? Elizabeth Warren and Democrats in
• 6:38
  Speaker 5: the Senate they want it. They think that they could
• 6:39
  Speaker 5: set your access to your money to expire that it
• 6:42
  Speaker 5: would be a better future. We need to turn the
• 6:44
  Speaker 5: other direction, and the market's telling us that that's why
• 6:47
  Speaker 5: cryptocurrency was invented.
• 6:49
  Speaker 1: Frankly, all right, so good news there, of course, Warren
• 6:52
  Speaker 1: Davidson being on that side of the plate. Also Tom Emmer,
• 6:55
  Speaker 1: we've had on the show before. Central Bank digital currency
• 6:58
  Speaker 1: would give bureaucasts the and the Federal Reserve the ability
• 7:01
  Speaker 1: to monitor and restrict Americans individual purchases. This is the
• 7:04
  Speaker 1: problem that everybody understands what it means. If you're brand
• 7:08
  Speaker 1: new to crypto or you're brand new to digital assets,
• 7:11
  Speaker 1: this is the one thing you don't want to happen.
• 7:13
  Speaker 1: And the good thing is is now we've locked that
• 7:15
  Speaker 1: in now. Granted it moves to the Senate, but it
• 7:20
  Speaker 1: moved to the Senate with a very close vote. So
• 7:22
  Speaker 1: I'm a little bit concerned of how this plays out
• 7:24
  Speaker 1: in the Senate. Again, this could also get some restructure
• 7:28
  Speaker 1: in the Clarity Act, meaning how an anti CBDC component
• 7:31
  Speaker 1: could be put into the Clarity Act to get this through.
• 7:33
  Speaker 1: All of this is playing out right now, so you
• 7:35
  Speaker 1: have two more bills that are now on their way
• 7:37
  Speaker 1: to the Senate, they're out of the House. Hopefully the
• 7:40
  Speaker 1: House is done with this situation and we'll see how
• 7:43
  Speaker 1: the Senate goes. So first up is going to be
• 7:46
  Speaker 1: the Clarity Act. That one is the most impact on
• 7:49
  Speaker 1: digital assets and also on how companies and pretty much
• 7:53
  Speaker 1: the globe will act around digital currencies and especially around
• 7:58
  Speaker 1: digital assets used in all sorts of scenarios, whether it's loyalty, systems, payment,
• 8:03
  Speaker 1: all those kind of things, as well as innovations in
• 8:05
  Speaker 1: a variety of businesses. So all of this happening now,
• 8:09
  Speaker 1: all three bills have passed.
• 8:11
  Speaker 9: This is good.
• 8:12
  Speaker 1: Trump's going to sign it into I think into law today.
• 8:16
  Speaker 1: We'll see it here in a few minutes hopefully. And
• 8:18
  Speaker 1: with that right there, it starts. I would agree with
• 8:21
  Speaker 1: that earlier clip. It does start the golden age of
• 8:23
  Speaker 1: crypto and really the golden age of where this is going.
• 8:28
  Speaker 1: Let's go to another clip real quick. This one is
• 8:30
  Speaker 1: the Republicans put a little pressure on the Senate. Take
• 8:33
  Speaker 1: a look.
• 8:34
  Speaker 6: And so when I look at the board and I
• 8:36
  Speaker 6: see on Clarity seventy eight Democrats. We got seventy one
• 8:40
  Speaker 6: Democrats on Fit twenty one last year in the Biden administration,
• 8:45
  Speaker 6: and today under President Trump, we got seventy eight and
• 8:49
  Speaker 6: on Genius coming over from the Senate, one hundred and
• 8:52
  Speaker 6: two Democrats support a genius. Voters out there, the citizens
• 8:56
  Speaker 6: out there are to revel when they see this, but
• 8:59
  Speaker 6: you won't see this covered on cable news at night.
• 9:03
  Speaker 6: So actually I didn't know what number to be, but
• 9:07
  Speaker 6: I knew that my target was to beat fit twenty
• 9:10
  Speaker 6: one and made a bet with myself and I won.
• 9:15
  Speaker 8: The vote total in the House shows massive support across
• 9:20
  Speaker 8: party lines, and I think it shows the energy that's here,
• 9:24
  Speaker 8: and to me, that's a sign that the United States
• 9:26
  Speaker 8: Senate should pick up this legislation and move quickly.
• 9:30
  Speaker 4: They showed us they could move Genius, one of the
• 9:32
  Speaker 4: first things they've done in a long time, and they
• 9:34
  Speaker 4: moved it expeditiously and it did a great job, and
• 9:36
  Speaker 4: we're all celebrating it. I think what you're going to
• 9:39
  Speaker 4: see now, because they haven't had the history or experience
• 9:42
  Speaker 4: with the market structure side of things that's been a
• 9:45
  Speaker 4: House effort for four or five six years. They need
• 9:49
  Speaker 4: a little bit of time to do that, but I
• 9:51
  Speaker 4: expect that they are going to pick this up and
• 9:54
  Speaker 4: move it. They're going to get it done, and the
• 9:55
  Speaker 4: White House is going to sign it. The White House
• 9:57
  Speaker 4: is asked for it, so I do expect it to move.
• 10:00
  Speaker 6: I mean, our bill's perfect.
• 10:02
  Speaker 1: Else, all right. So the point being here, guys, is
• 10:05
  Speaker 1: that the American public has asked for this. Trump has
• 10:09
  Speaker 1: put a lot of pressure on the House and also
• 10:11
  Speaker 1: the Senate. Now we are getting ready to go into
• 10:13
  Speaker 1: the big leagues. This, I think is where it starts
• 10:16
  Speaker 1: to separate, because now you're going to have some winners
• 10:18
  Speaker 1: and some losers. This is a big component of how
• 10:22
  Speaker 1: the next generation of finance and even tech will move.
• 10:25
  Speaker 1: Here's a clip that kind of breaks down the winners
• 10:28
  Speaker 1: and losers of the Genius Act. You'll be surprised.
• 10:31
  Speaker 3: Take a look.
• 10:32
  Speaker 9: You've got some pretty powerful interests here, the banks up
• 10:34
  Speaker 9: against the crypto industry, and so far the crypto industry
• 10:37
  Speaker 9: has been winning. JP Morgan and Wells Farga originate more
• 10:40
  Speaker 9: than half of the ACCH volume. Those ACCH payments will
• 10:43
  Speaker 9: be disintermediated by this technology.
• 10:46
  Speaker 4: It's clear who the winners are Coinbase, Robinhood Circle.
• 10:49
  Speaker 8: Who are the losers?
• 10:50
  Speaker 3: Does this hurt ultimately the credit card issuers?
• 10:53
  Speaker 10: You can in minutes, if not faster, securely, cheaply send
• 10:58
  Speaker 10: money around the world. And what takes place when we're
• 11:02
  Speaker 10: using these more you know, it's called historic ways of
• 11:07
  Speaker 10: making payments internationally. So you know, I have said before,
• 11:11
  Speaker 10: if I were still operating a very traditional foreign remittance
• 11:14
  Speaker 10: type business, then this would be this is quite an
• 11:18
  Speaker 10: emerging challenge to that traditional structure.
• 11:21
  Speaker 1: All right, So if you've been watching our show, guys,
• 11:24
  Speaker 1: you know what we've been saying is that this is
• 11:26
  Speaker 1: going to happen, and it's going to change the very
• 11:28
  Speaker 1: dynamic of the entire ecosystem around finance. I think it's
• 11:33
  Speaker 1: going to change the world of payments. We're going to
• 11:35
  Speaker 1: see Visa MasterCard, We're going to see every major bank.
• 11:38
  Speaker 1: You are going to see over the next twelve months.
• 11:39
  Speaker 1: The amount of innovation maybe that is all pent up.
• 11:43
  Speaker 1: Remember this is the United States now doing this, not
• 11:46
  Speaker 1: an international company that has a very small market gap
• 11:48
  Speaker 1: and isn't the global reserve currency. All of that is
• 11:52
  Speaker 1: about to change. I want to get into another clip
• 11:55
  Speaker 1: because this is where we start to look at these
• 11:57
  Speaker 1: super cycles. And this is interesting because you've got block
• 12:00
  Speaker 1: you've got AI technology, all of this is starting to snowball.
• 12:04
  Speaker 1: Take a look at this. You say near term, we're
• 12:06
  Speaker 1: going to be at a half a million dollars?
• 12:09
  Speaker 11: What's that timeline by Christmas? We're in a supercycle like
• 12:14
  Speaker 11: we are in AI. The metaverse of the crypto web
• 12:17
  Speaker 11: three ecosystem has been growing so significantly outside of the
• 12:22
  Speaker 11: New York Stock is Change and nasdec as we know it,
• 12:25
  Speaker 11: it's created its own ecosystem, and now these policies are
• 12:29
  Speaker 11: going to integrate them. They're going to merge.
• 12:31
  Speaker 1: Them all right, so you can see there's a lot
• 12:34
  Speaker 1: of analysts that finally are on board with where crypto
• 12:38
  Speaker 1: is going. It is mainstreaming this into all walks of life, finance,
• 12:43
  Speaker 1: and of course the United States will lead the way
• 12:45
  Speaker 1: in digital assets. Just get ready. Of course, the next
• 12:49
  Speaker 1: move is going to be President Trump actually signing the
• 12:53
  Speaker 1: Genius Act into law that of course makes stable coins legal.
• 12:58
  Speaker 1: And now we start to see the innovation. Let's go
• 13:01
  Speaker 1: to a clip by President Trump actually taking action.
• 13:05
  Speaker 12: Keep going. We worked hard him. Thank you very much.
• 13:08
  Speaker 12: The Genius Act they named it after me, and I
• 13:11
  Speaker 12: want to thank you. I also want to recognize some
• 13:14
  Speaker 12: of the countless industry leaders here today, including Brian Armstrong
• 13:19
  Speaker 12: of Coinbase, Dave Ripley of kraken Er Jeremy a Lair
• 13:25
  Speaker 12: of Circle. It was a big day. Good job, Paolo
• 13:31
  Speaker 12: Ordino of Tether, Pallo, Pallo, thank you, Polow, Vlad ten
• 13:36
  Speaker 12: F of Robin hood Lad, thank you.
• 13:40
  Speaker 6: RTT.
• 13:41
  Speaker 12: We fired Joe Biden's sec cheer, Gary Gensler, We fired him.
• 13:46
  Speaker 11: What the hell did that guy do?
• 13:49
  Speaker 12: In his place? I appointed a visionary chairman, Paul Atkins.
• 13:53
  Speaker 12: Where are you? Paul Atkins, Hester Pearce and Mark Joeda?
• 13:58
  Speaker 12: Oh stand up, Mark, I didn't didn't here because of
• 14:00
  Speaker 12: the thunderous applause for Estia. Thank you very much, everybody.
• 14:17
  Speaker 1: All right, So there you guys have it. President Trump
• 14:19
  Speaker 1: has signed the Genius Act into law, and of course
• 14:22
  Speaker 1: he gave a lot of accolades to the industry. What's
• 14:25
  Speaker 1: interesting to me is the fact that all of these
• 14:28
  Speaker 1: people have been on our show over the last couple
• 14:31
  Speaker 1: of years leading up to this. This, I think is
• 14:34
  Speaker 1: a definite momentous moment in crypto and digital technology. Going forward,
• 14:39
  Speaker 1: We're going to see a lot of changes. You guys,
• 14:41
  Speaker 1: of course, do not want to miss any of those.
• 14:42
  Speaker 1: And all you have to do is join the Diamond Circle.
• 14:44
  Speaker 1: That's the way you get additional content from us. Also
• 14:47
  Speaker 1: subscribe to the channel. Very easy to do that. Follow
• 14:49
  Speaker 1: me out there on X at Paul Baron. We'll catch
• 14:52
  Speaker 1: you next time right here on The Paul Baron Show.
• 14:55
  Speaker 8: Thank