Latest / The Paul Barron Crypto Show / CLARITY A Coin Flip Catalyst!?🚨Ron Hammond INTERVIEW🏦

Transcript

CLARITY A Coin Flip Catalyst!?🚨Ron Hammond INTERVIEW🏦 · The Paul Barron Crypto Show

• 0:00
  Speaker 1: We'll show them into a coin flip, because that's going
• 0:02
  Speaker 1: to be what it boils down to on a catalyst
• 0:05
  Speaker 1: for the markets today, we'll break it all down for you.
• 0:07
  Speaker 1: Let's get into it. I do want to thank our
• 0:08
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• 0:11
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• 0:20
  Speaker 2: In the right direction.
• 0:21
  Speaker 1: If you're just getting into digital assets, use our link
• 0:23
  Speaker 1: down below. It's going to give you a little bit
• 0:25
  Speaker 1: of a discount to get going. We're going to have
• 0:27
  Speaker 1: Ron Hammond coming in today to join us here in
• 0:29
  Speaker 1: a minute. I do want to kind of hit on
• 0:31
  Speaker 1: a few points before we get started with Ron, and one,
• 0:34
  Speaker 1: of course is the impact on the market. Here was
• 0:37
  Speaker 1: a outlined by Tom Lee talking about Ethereum and Solana
• 0:42
  Speaker 1: potentially setting all time highs if keyword if Clarity Act
• 0:47
  Speaker 1: gets through and if you can kind of see right there,
• 0:50
  Speaker 1: Ethereum holding it about a sixty percent possibility of all
• 0:53
  Speaker 1: time high if it doesn't go through, Solana holding it
• 0:55
  Speaker 1: around a forty five percent possibility, but one.
• 0:58
  Speaker 2: Hundred percent pretty much much.
• 1:00
  Speaker 1: Says if Clarity gets through, these two will be two
• 1:03
  Speaker 1: of the biggest impacts we will have in crypto, and
• 1:06
  Speaker 1: I would agree with that, along with a handful of
• 1:08
  Speaker 1: others that most likely will move in conjunction. I think
• 1:12
  Speaker 1: the market is kind of set up very interestingly right now.
• 1:15
  Speaker 1: Here's Luke Martin. He talked about this right here, market
• 1:17
  Speaker 1: is turning into a high stakes game of mind sweeper.
• 1:20
  Speaker 1: I agree with this. Nukes all around every corner. We
• 1:23
  Speaker 1: saw the Centrini report come out, Zach Xby's tees thread
• 1:26
  Speaker 1: and tropics tweet Trump tariffs. We reported on that yesterday.
• 1:30
  Speaker 1: You guys know what I mean. It's literally just bomb
• 1:34
  Speaker 1: after bomb after bomb in this market that is causing
• 1:37
  Speaker 1: a lot of uncertainty. One of the thing that is
• 1:39
  Speaker 1: not uncertain right now is what's going on in Europe,
• 1:43
  Speaker 1: and that is it has been over a thousand days
• 1:47
  Speaker 1: since Mika.
• 1:48
  Speaker 2: Past their crypto bill. That's right.
• 1:50
  Speaker 1: The Europeans could be so far ahead of the US
• 1:54
  Speaker 1: if they actually just applied it, because they actually have
• 1:58
  Speaker 1: regulation and regulatory frameworks in process and underway right now,
• 2:03
  Speaker 1: where a lot of what we could be doing here
• 2:05
  Speaker 1: in the United States could really open up an opportunity.
• 2:07
  Speaker 1: I think that maybe could be the biggest financial opportunity overall. Now,
• 2:12
  Speaker 1: Clarity is the big point today, and obviously we want
• 2:15
  Speaker 1: to get into two things that will really boil down
• 2:18
  Speaker 1: into where it is, and also what are some of
• 2:21
  Speaker 1: the things that would have to happen for Clarity to
• 2:25
  Speaker 1: actually get through. So we wanted to bring in Ron
• 2:27
  Speaker 1: Hammond coming in from winter Mute.
• 2:28
  Speaker 2: How are you, Ron?
• 2:30
  Speaker 3: I'm doing good, Paul. You covered a lot of good
• 2:31
  Speaker 3: points and I'm excited to get into all of it.
• 2:33
  Speaker 3: So let's dive in.
• 2:35
  Speaker 1: Hey, let's hit on the first bombshell right here, which
• 2:38
  Speaker 1: is I'm just going into I opened up Polymarket just
• 2:41
  Speaker 1: a little bit ago, and literally at noon today we
• 2:44
  Speaker 1: go from what was a coin flip to now something
• 2:49
  Speaker 1: is brewing down in DC.
• 2:51
  Speaker 2: What could this be? Is there anything that's happening.
• 2:54
  Speaker 1: Right now today other than we have bad weather in
• 2:58
  Speaker 1: DC that could be.
• 2:59
  Speaker 2: Slowing things down.
• 3:00
  Speaker 1: But is there anything that you're feeling that could be
• 3:02
  Speaker 1: implementing a possible decline in the Clarity probability?
• 3:06
  Speaker 3: You know, I'm checking Twitter, you know, the past hour.
• 3:08
  Speaker 3: I haven't seen anything directly that may have correlated to
• 3:11
  Speaker 3: that price, you know, jump our guest decrease, you could say.
• 3:14
  Speaker 3: But maybe one thing to look at is the White
• 3:16
  Speaker 3: House meeting. I think we're at now three that happened
• 3:18
  Speaker 3: between the bank lobby and the Crypto loobby that you've
• 3:20
  Speaker 3: covered really well on the show before. We were told
• 3:23
  Speaker 3: that we hopefully have some reconciliations, some at least middle
• 3:26
  Speaker 3: ground of the group's kind of met on at least
• 3:29
  Speaker 3: last we've heard it's kind of more in the bank
• 3:30
  Speaker 3: camp right now, like they're reviewing some proposals at the
• 3:32
  Speaker 3: White House allegedly proposed to them. So we'll see exactly
• 3:36
  Speaker 3: where the banks stay on that issue. Because, as you
• 3:38
  Speaker 3: mentioned in all the other tweets you referenced earlier, there
• 3:41
  Speaker 3: is a mind spetper of issues that are going to
• 3:42
  Speaker 3: be facing these folks. The old issue is just the
• 3:44
  Speaker 3: starting gun, but that could be improtacting things. But I
• 3:47
  Speaker 3: would also say, I think today, you know, with the
• 3:49
  Speaker 3: state of Union, it's pretty likely we'll probably see Crypto
• 3:51
  Speaker 3: come up. You know, they usually talk about their accomplishment,
• 3:54
  Speaker 3: so we'll probably hear Trump talk about the Genius Act,
• 3:56
  Speaker 3: and they'll probably encourage Congress to work on the Clarity Act,
• 3:59
  Speaker 3: And the question is, you know, will that move the
• 4:01
  Speaker 3: needle or more hurt the causes because it's coming from
• 4:04
  Speaker 3: Trump and it teams of Democrats are the ones you
• 4:07
  Speaker 3: got to, you know, bring to your side here to
• 4:08
  Speaker 3: get this cross Finch line.
• 4:10
  Speaker 1: Do you think him mentioning it in the State of
• 4:12
  Speaker 1: the Union will bring it front and center for more
• 4:16
  Speaker 1: Americans to really understand or at least go out and
• 4:19
  Speaker 1: research what's going on. I'm looking at the poll mark
• 4:21
  Speaker 1: on this right now. It's a thirty percent probability that
• 4:24
  Speaker 1: he might mention crypto and bitcoin at the State.
• 4:27
  Speaker 2: Of the Union.
• 4:28
  Speaker 1: Would that be Do you think that will impact any
• 4:30
  Speaker 1: of the traditional markets out there?
• 4:34
  Speaker 4: It's hard to see.
• 4:34
  Speaker 3: You know, I'm kind of shocked he's actually at thirty
• 4:36
  Speaker 3: percent right now, because I would say it's definitely going
• 4:38
  Speaker 3: to be much higher, just concerning like I know, how
• 4:39
  Speaker 3: these things work out, with kind of how the President
• 4:41
  Speaker 3: presents the Congress and kind of their achievements of the
• 4:43
  Speaker 3: last year and looking forward to the year ahead, and
• 4:45
  Speaker 3: obviously with the election year that's very much on everyone's mind.
• 4:48
  Speaker 3: It's kind of the year ahead of what they can
• 4:49
  Speaker 3: get in the wing calumn here so I would definitely
• 4:51
  Speaker 3: say it's higher than thirty percent on this. Of course,
• 4:54
  Speaker 3: I have no inside information. We don't know exactly what's
• 4:56
  Speaker 3: going to happen with the speech itself, and it's Trump.
• 4:59
  Speaker 3: Even what's on the page, you can probably go off
• 5:01
  Speaker 3: topic really quickly, as we've seen before.
• 5:03
  Speaker 4: But overall, I.
• 5:04
  Speaker 3: Would say at least it keeps the pressure on, and
• 5:06
  Speaker 3: i'd say that White House is actually incredibly important in this.
• 5:09
  Speaker 4: Situation right now. They've brought all the camps together.
• 5:12
  Speaker 3: They realized there was an impasse at least in the Senate,
• 5:14
  Speaker 3: and they've took in the initiative and said, you know what,
• 5:15
  Speaker 3: we're going to step in and we're going to try
• 5:17
  Speaker 3: to get these guys to at least agree on something here,
• 5:19
  Speaker 3: because it seems like if we just went through the
• 5:20
  Speaker 3: normal political process, this is going to die in the Senate.
• 5:23
  Speaker 3: So I think the White House has actually been very,
• 5:25
  Speaker 3: very helpful. But as you mentioned earlier in these other tweets,
• 5:27
  Speaker 3: there's gonna be a mind step of issues like ethics,
• 5:29
  Speaker 3: for example, or combetive interests.
• 5:31
  Speaker 4: There don't gonna be dogging this bill later to come.
• 5:34
  Speaker 1: Well, and one thing, when you talk about ethics, this
• 5:37
  Speaker 1: was from Trump's White House has now one view of
• 5:40
  Speaker 1: crypto legislation and his family has a completely different view
• 5:44
  Speaker 1: of crypto legislation. Look at this right here, because this
• 5:47
  Speaker 1: I thought was interesting. Back to your point, top Trump
• 5:50
  Speaker 1: admin has basically said that they are now criticizing coinbase
• 5:54
  Speaker 1: for pulling support from the Crypto Market Structure bill. Then
• 5:58
  Speaker 1: you have World Liberty Finance saying, actually, we're supporting.
• 6:01
  Speaker 2: Coinbases approach to the bill.
• 6:03
  Speaker 1: So you have two counterbalances going on, both from the
• 6:06
  Speaker 1: White House and also from more Liberty five with Trump's
• 6:09
  Speaker 1: kids in this right now, do you think this is
• 6:12
  Speaker 1: going to have a major impact on whether or not
• 6:16
  Speaker 1: the Senate lets this go through? And that is the
• 6:18
  Speaker 1: ethics issue right now that we're facing.
• 6:21
  Speaker 3: You know, it's a main sticking point for a lot
• 6:22
  Speaker 3: of Democrats that we're seeing as get a ball again.
• 6:24
  Speaker 3: I'd say it's probably about twelve or so Democrats that
• 6:27
  Speaker 3: many folks have recognized that either support stable coin legislation
• 6:29
  Speaker 3: in the past, or have said pro crypto things in
• 6:31
  Speaker 3: the past, or got supported by the crypto pack.
• 6:33
  Speaker 4: So there is a.
• 6:34
  Speaker 3: Healthy, you know margin here that we can work with,
• 6:36
  Speaker 3: at least on the Democrats. Side to bring them over
• 6:38
  Speaker 3: to get to that sixty. However, I will say Wally
• 6:40
  Speaker 3: financial has been a concern for many of those Democrats.
• 6:42
  Speaker 3: They have done letters, They've signed letters to the administration
• 6:46
  Speaker 3: and done public outcry here. In some cases they said, hey,
• 6:49
  Speaker 3: we want something on ethics here, something want more teeth,
• 6:53
  Speaker 3: including like banning the president's children and future president's children
• 6:56
  Speaker 3: and abine officials get involved in crypto whatsoever. And so
• 7:00
  Speaker 3: there's a lot of these tough questions here, and the
• 7:02
  Speaker 3: question is how far are they going to be able
• 7:04
  Speaker 3: to at least find a middle ground here that both
• 7:06
  Speaker 3: sides can stomach and at least right now, both camps are.
• 7:08
  Speaker 4: Going to be pretty far apart here.
• 7:10
  Speaker 3: So just because we have the yield issue potentially getting resolved,
• 7:13
  Speaker 3: this is another issue where both camps are pretty far
• 7:15
  Speaker 3: away from each other and there's gotta be a middle
• 7:16
  Speaker 3: ground here otherwise this bill dies.
• 7:18
  Speaker 1: And Senate yeah, yeah, well, you look at more activity
• 7:21
  Speaker 1: that's happening, and we're liberty fied. They had the attack
• 7:24
  Speaker 1: on USC one, which was their stable coin. A lot
• 7:26
  Speaker 1: of people looked at this mainly around the idea of
• 7:29
  Speaker 1: fud that has happened. They said it didn't work, But
• 7:32
  Speaker 1: the point is is that it brought it back to
• 7:35
  Speaker 1: the front of the news. This of course gets the
• 7:38
  Speaker 1: Congress people all energized again and it starts to create
• 7:42
  Speaker 1: this issue just and it's like a merry go round.
• 7:45
  Speaker 1: It just keeps on coming. And then you had right here, oh,
• 7:49
  Speaker 1: by the way, twenty two other properties right now being
• 7:52
  Speaker 1: developed in foreign countries. This of course was Eric Trump
• 7:55
  Speaker 1: going into Australia. And now we're starting to see more
• 7:59
  Speaker 1: activity coming in from the President I shouldn't say the
• 8:02
  Speaker 1: president from his from World Liberty FI and his and
• 8:05
  Speaker 1: his kids where it's starting to circle around real world assets.
• 8:09
  Speaker 1: Do you think that they could do anything right now
• 8:13
  Speaker 1: that would appease the idea of where Congress is. Could
• 8:18
  Speaker 1: could World Liberty Fi kind of fall on the sword
• 8:21
  Speaker 1: here in any way and say all right, that's enough,
• 8:24
  Speaker 1: maybe we will go ahead and pass it.
• 8:26
  Speaker 2: If these guys will do this anything they could do, you.
• 8:30
  Speaker 3: Know, they potentially can try to alleviate some of the
• 8:32
  Speaker 3: concerns aren't being made by a lot of the Democrats here.
• 8:34
  Speaker 3: And again you have to remember, though, you know, a
• 8:36
  Speaker 3: lot of this comes down to politics, unfortunately, and so
• 8:38
  Speaker 3: what a lot of these Democrats sy you know, regardless
• 8:41
  Speaker 3: of the bill substance or not, they see election yere
• 8:44
  Speaker 3: not many builds needed pass this year, but this one
• 8:46
  Speaker 3: crypto bill has a chance and has you know, annexcess
• 8:48
  Speaker 3: to all these other more Trump corruption narratives that are
• 8:52
  Speaker 3: huge themes of the Democrats in twenty twenty six. So
• 8:55
  Speaker 3: you know what we're trying to you know, more vice
• 8:57
  Speaker 3: Democrats saying hey, look, this is actually a really important
• 8:58
  Speaker 3: piece of legislation. This is not just some talking point
• 9:01
  Speaker 3: that sounds good, feel like campaign that we actually need
• 9:03
  Speaker 3: this legislation and to your point earlier, it'd be hugely
• 9:05
  Speaker 3: helpful for the markets here and to have that clarity.
• 9:08
  Speaker 3: So the hope is that we can hit the politics aside.
• 9:10
  Speaker 3: But unfortunately, as we get closer and closer to remember,
• 9:13
  Speaker 3: it seems like politics is going to keep creeping in,
• 9:15
  Speaker 3: and I think it's going to make it worse as
• 9:16
  Speaker 3: time goes on. Now, the one thing I would look
• 9:19
  Speaker 3: at though, this came out from a really punch bowl
• 9:22
  Speaker 3: last week or center. Schumer was allegedly had a conversation
• 9:25
  Speaker 3: with a bunch of his peers on the Democrat side,
• 9:27
  Speaker 3: and he said, hey, we don't want to make the
• 9:29
  Speaker 3: crypto PACs angry again.
• 9:30
  Speaker 4: We've learned our lesson from twenty twenty four.
• 9:32
  Speaker 3: Our question is, is the pack is going to be
• 9:34
  Speaker 3: the one that kind of carries the weight here or
• 9:37
  Speaker 3: is it going to be enough for the Democrats to
• 9:38
  Speaker 3: kind of hold their nose and maybe take some deals
• 9:40
  Speaker 3: and at least move this bill forward, or are they
• 9:43
  Speaker 3: going to be enough to say, hey, we actually want to.
• 9:45
  Speaker 4: Stay up here.
• 9:45
  Speaker 3: We're going to find these political issues and we're find
• 9:48
  Speaker 3: taking the bill and we're find taking the brunt of
• 9:50
  Speaker 3: the industry's wrath.
• 9:51
  Speaker 1: I'm looking at this tweet that outlined what Eric Trump
• 9:54
  Speaker 1: was doing. This is where he was deleting a bunch
• 9:56
  Speaker 1: of tweets that were basically mentioning certain cash that are
• 10:00
  Speaker 1: out there, Bitcoin, eighth, et cetera. And it's not just
• 10:03
  Speaker 1: World Liberty five, it's basically any crypto ticker. So he's
• 10:06
  Speaker 1: pulling these tweets down. And my question I think is
• 10:11
  Speaker 1: could maybe this be part of a deal where they say, Okay,
• 10:14
  Speaker 1: we're not going to win on them being involved, but
• 10:17
  Speaker 1: maybe we can win on them not being able to promote.
• 10:21
  Speaker 1: And of course crypto Twitter is one of the biggest
• 10:23
  Speaker 1: areas out there that promotion is done. I don't know,
• 10:27
  Speaker 1: what do you think would that be enough for I mean,
• 10:29
  Speaker 1: you know these congressmen and congress people, would that be
• 10:32
  Speaker 1: enough for them to say, Okay, that's at least something
• 10:35
  Speaker 1: that comes out.
• 10:36
  Speaker 4: Of this potentially.
• 10:38
  Speaker 3: But again, if it's not in the law or statute,
• 10:40
  Speaker 3: then they in their minds, like we're thinking about how
• 10:42
  Speaker 3: the regulars to potentially turn on Crypto and next administration,
• 10:45
  Speaker 3: in their mind they can say, well, really financial they
• 10:47
  Speaker 3: can go back on their word or whoever, you know,
• 10:49
  Speaker 3: the concern is for the company.
• 10:51
  Speaker 4: They go back on their word the moment this bill
• 10:53
  Speaker 4: signed the law.
• 10:53
  Speaker 3: So you know, there's of course that kind of trust
• 10:55
  Speaker 3: component there and that kind of chess play you have
• 10:58
  Speaker 3: to do with politics here. But overall, I would also
• 11:00
  Speaker 3: say a lot of these groups, especially we saw this
• 11:03
  Speaker 3: with about fifty groups on the progressive side came out
• 11:05
  Speaker 3: against the market structure bill months ago, and there had
• 11:08
  Speaker 3: a litney of issues, but they mostly focus on the
• 11:10
  Speaker 3: Trump corruption angle. And you know, many folks will say
• 11:14
  Speaker 3: in DC, if you make all those concerns alleviated, you
• 11:16
  Speaker 3: gave all those progressive groups everything they wanted on the
• 11:20
  Speaker 3: on the side. When it comes to more of the
• 11:21
  Speaker 3: ethics issues, will they still come and support this bill?
• 11:25
  Speaker 4: And the truth is most likely not.
• 11:26
  Speaker 3: They have fought this every single way for the past
• 11:28
  Speaker 3: you know, almost decade at this point for litney of issues.
• 11:31
  Speaker 3: But you know, at least right now the wheel is
• 11:33
  Speaker 3: spending on the confident of interests with the Trump family
• 11:36
  Speaker 3: and that's what they're going to dig their heels on.
• 11:38
  Speaker 3: But overall, the question is who are the people who
• 11:40
  Speaker 3: actually want to play ball, who actually want to see
• 11:42
  Speaker 3: a March structure bill done, and who just wants either
• 11:44
  Speaker 3: ragons of presidents or more ragons and crypto industry, or
• 11:47
  Speaker 3: maybe just dangle this bill in front of the crypto
• 11:49
  Speaker 3: industry and banks and say hey, we'll get to it
• 11:51
  Speaker 3: next year, but we'll love your campaign dollars in the meantime.
• 11:54
  Speaker 4: And of course that's no scenarios of what we want.
• 11:56
  Speaker 1: Yeah, that would be a terrible scenario to play out here.
• 12:00
  Speaker 1: And I want to play a clip for you because
• 12:01
  Speaker 1: this is where maybe the industry is overthinking this in
• 12:05
  Speaker 1: reference to stable coin yields, and I wanted to get
• 12:08
  Speaker 1: your opinion on whether you agreed or disagreed. Let's go
• 12:11
  Speaker 1: to the soot one with Caitlin.
• 12:13
  Speaker 5: Tokenied deposits can pay yield, so we don't really care.
• 12:18
  Speaker 5: I've been very quiet about that whole debate. There's really
• 12:22
  Speaker 5: it's been everyone's been beating around the bush. There's really
• 12:24
  Speaker 5: one company that cares a lot about it, and the
• 12:27
  Speaker 5: rest of the industry has just been pretty quiet. If
• 12:30
  Speaker 5: the five point seven trillion of tokenized deposits get tokenized,
• 12:34
  Speaker 5: I'm not sure that the stable coin market becomes that meaningful.
• 12:40
  Speaker 1: What do you think do you think that that would
• 12:43
  Speaker 1: that kind of removes Obviously we were talking about stable
• 12:46
  Speaker 1: coin earnings, which of course locks into what coinbasin Circle
• 12:49
  Speaker 1: are dealing with versus what kitlain Long was talking about
• 12:51
  Speaker 1: there around tokenized deposits.
• 12:53
  Speaker 2: Does it matter now?
• 12:55
  Speaker 4: I think it does.
• 12:55
  Speaker 3: I mean, obviously, you know, we have a lot of
• 12:57
  Speaker 3: good lawyers in the cryptopolicy space now and they have
• 13:00
  Speaker 3: raisist as an issue. So it's not just Coinbase and
• 13:02
  Speaker 3: Circle finds yield battle. It's the entire industry, including the
• 13:05
  Speaker 3: cryptotrae associations here and of course again for folks like
• 13:08
  Speaker 3: we have other issues as well, especially when it comes
• 13:10
  Speaker 3: to self cussy language and I'm sure other firms have
• 13:12
  Speaker 3: played other issues as well. There's no perfect bill out there,
• 13:15
  Speaker 3: but overall, this is definitely an industry fight here. You know,
• 13:18
  Speaker 3: we haven't heard too much on the tokenized deposit side
• 13:20
  Speaker 3: of things, but I will say that White House is
• 13:22
  Speaker 3: definitely reiterating to the banks that, hey, if y'all don't
• 13:25
  Speaker 3: come to the table or at least come to some
• 13:26
  Speaker 3: sort of me in the middle here, coin basically going
• 13:28
  Speaker 3: to keep doing the yield of farming as much as
• 13:30
  Speaker 3: they want here on the stable coin side, and you
• 13:33
  Speaker 3: be angry about it and try to fight on the
• 13:34
  Speaker 3: regulatory side. So try to, you know, buck up at
• 13:36
  Speaker 3: least find a mill ground here and then we can
• 13:38
  Speaker 3: go forward.
• 13:39
  Speaker 4: At least right now, we haven't.
• 13:40
  Speaker 3: Gotten indication of the banks they're ready to play ball
• 13:42
  Speaker 3: full yet, but you know, time will tell.
• 13:44
  Speaker 4: We'll see at the end of the month if they're
• 13:45
  Speaker 4: able to stomach something.
• 13:47
  Speaker 1: Yeah, there are some interesting things happening that could, you know,
• 13:51
  Speaker 1: allude to the fact that maybe there's something growing here.
• 13:53
  Speaker 1: At least on the decision one the Federal Reserve talked
• 13:56
  Speaker 1: about this following earlier actions. This was removing Reputational from
• 14:00
  Speaker 1: its supervision on banks. Is now requesting comments on a
• 14:03
  Speaker 1: proposal to codify that removal, so that.
• 14:06
  Speaker 2: Would be unique. Then you have this right here.
• 14:10
  Speaker 1: This is talking about crypto dot com becoming a national
• 14:12
  Speaker 1: bank trust bank. So this is an exchange that's starting
• 14:16
  Speaker 1: to flow into this we in a US somewhat US
• 14:21
  Speaker 1: exchange that of course gets more clarity in the sense
• 14:24
  Speaker 1: that you know they could be themselves a bank in
• 14:28
  Speaker 1: the company as Good Robinhood and many of these others
• 14:30
  Speaker 1: who have filed for it. But do you think that
• 14:32
  Speaker 1: this is something that is going to matter when it
• 14:35
  Speaker 1: comes down to it, especially stable coins? Back to your point,
• 14:40
  Speaker 1: you're saying that there's attorneys out there, Yes, this is
• 14:42
  Speaker 1: something we should fight for. A lot of the industry
• 14:44
  Speaker 1: is saying it's not as important as we think it is.
• 14:49
  Speaker 2: Do you feel like the rest of the industry feels
• 14:51
  Speaker 2: that way or not?
• 14:53
  Speaker 3: In the crytin industry is a hard group to get
• 14:56
  Speaker 3: aligned on everything, I would say so, I think there's
• 14:58
  Speaker 3: definitely a red lines for a lot of folks in
• 15:00
  Speaker 3: different areas here. So we've seen the D five folks,
• 15:02
  Speaker 3: for example, really push back on anything more and expand
• 15:05
  Speaker 3: the AML regime when it comes to DeFi trains. So
• 15:07
  Speaker 3: I think there's a variety of more redline situations out there.
• 15:11
  Speaker 3: But of course coinbas being the big dog both in
• 15:13
  Speaker 3: DC and in the marketplace, they also hear a lot
• 15:15
  Speaker 3: of weight when it comes to this issue.
• 15:17
  Speaker 4: So to your point, then if we do find an.
• 15:19
  Speaker 3: Agreement here on the yield issue, there's still gonna be
• 15:21
  Speaker 3: a lot of issues that are be really contentious. I mean,
• 15:23
  Speaker 3: let's take you know, we talk about the left more
• 15:25
  Speaker 3: of their concerns, let's take the right. You know, with
• 15:27
  Speaker 3: this anti CVDC bill almost tank the Genius Act. And
• 15:31
  Speaker 3: we've already started to see some Republicans say, hey, you know,
• 15:34
  Speaker 3: if the once there's anti CVDC language in the crypto bill,
• 15:37
  Speaker 3: I'm not going to support it. And if you lose
• 15:39
  Speaker 3: Republicans and you start losing more conservat Republicans, there for
• 15:41
  Speaker 3: sure the field to the decrets. So this is a
• 15:44
  Speaker 3: really sticky situation. But it shows why, you know, legislation
• 15:47
  Speaker 3: is hard. There's gonna be some hard choices to be
• 15:48
  Speaker 3: made here, and groups don't want to make those hard choices.
• 15:51
  Speaker 4: This bill does.
• 15:52
  Speaker 1: Another one that is starting to brew right now is
• 15:55
  Speaker 1: the tax scenario. And you and I have talked about
• 15:57
  Speaker 1: this before, is because taxes most likely would be the
• 15:59
  Speaker 1: next shoe to but this particular roundtable was postponed. Now
• 16:05
  Speaker 1: many people say it's the weather or is it correlated
• 16:08
  Speaker 1: to what's going on with Clarity getting a little bit
• 16:10
  Speaker 1: of a dip. Maybe the dip is just as simple
• 16:13
  Speaker 1: as you know, there's two feet of snow in DC.
• 16:16
  Speaker 2: But you have this slowing down.
• 16:18
  Speaker 1: You have Clarity of course now dipping under fifty percent.
• 16:22
  Speaker 2: I don't know how big of.
• 16:23
  Speaker 1: An issue is this, and when it comes to taxes
• 16:25
  Speaker 1: and will they accelerate this quickly?
• 16:27
  Speaker 4: Yeah, well can't confirm. I got the two feest snow
• 16:29
  Speaker 4: behind me.
• 16:30
  Speaker 3: And here in New York it definitely has caused some
• 16:32
  Speaker 3: delays here, but that's just you know, and we all
• 16:34
  Speaker 3: say the potential war that Iran coming soon, that's gonna
• 16:37
  Speaker 3: take up a lot of political bandwidth.
• 16:38
  Speaker 4: Yeah, all elections coming up.
• 16:40
  Speaker 3: So the one thing consistently that I've been shot, because
• 16:42
  Speaker 3: I've seen this again for over ten years, is that
• 16:44
  Speaker 3: when there ever is a huge issue, you know, we
• 16:46
  Speaker 3: have geopolitical or election or what have you, usually Crypto
• 16:49
  Speaker 3: goes to the wayside, having the disable clined Bill about
• 16:51
  Speaker 3: three years ago. But right now actually it's coming at
• 16:54
  Speaker 3: a Davos, it's going to probably come up with a
• 16:56
  Speaker 3: standing union. So like there is a lot of political
• 16:58
  Speaker 3: momentum to get something done here, and so I'm not
• 17:01
  Speaker 3: too concerned right now, at least, you know, with all
• 17:03
  Speaker 3: these geopolitical things on the precipice, I will I am
• 17:06
  Speaker 3: a little afraid how it's going to affect the narrative here.
• 17:08
  Speaker 3: So for example, if you know, the US does invade Iran,
• 17:11
  Speaker 3: I think AML is going to come up right to
• 17:13
  Speaker 3: the top of issues. We've kind of already seen a
• 17:14
  Speaker 3: little bit of that already in the media and some
• 17:16
  Speaker 3: Democrats kind of latching onto that. So I keep an
• 17:19
  Speaker 3: eye on that, But overall it still has momentum, and
• 17:22
  Speaker 3: I think the moment that we stop hearing come up
• 17:24
  Speaker 3: in you know, from the President or kind of coming
• 17:26
  Speaker 3: up in the more election contacts, potentially that's going to
• 17:29
  Speaker 3: be concerning. And we have to look more to twenty
• 17:31
  Speaker 3: twenty seven, So in figures crossed and to your point
• 17:34
  Speaker 3: about the EU, you know they've already had a thousand
• 17:36
  Speaker 3: days plus with their regulatory regime.
• 17:38
  Speaker 4: The UK starts there's in October twenty twenty seven. So
• 17:40
  Speaker 4: if we do miss this year, we will likely miss
• 17:42
  Speaker 4: the UK's deadline, and we are going to be pretty
• 17:44
  Speaker 4: firmly and last and it comes at least having these
• 17:46
  Speaker 4: rules on the books.
• 17:48
  Speaker 1: Okay, let's assume that we get clarity through in some
• 17:51
  Speaker 1: miraculous event it goes through. What would be the next
• 17:56
  Speaker 1: major component that you feel Congress would address? Would it
• 17:59
  Speaker 1: be tax to be aml Where do you think it's
• 18:02
  Speaker 1: going to fall?
• 18:03
  Speaker 3: Yeah, i'd say taxes for sure. I think we're going
• 18:05
  Speaker 3: to probably see some more movement on that shortly. You know,
• 18:08
  Speaker 3: there is gonna be a push probably for the President
• 18:09
  Speaker 3: of the State of the Union to do another big
• 18:11
  Speaker 3: tax bill, and that's going to be the vehicle that
• 18:13
  Speaker 3: you can throw the provision in there. We saw Center
• 18:15
  Speaker 3: Lumbus action try this. The first go around was unsuccessful. However,
• 18:19
  Speaker 3: I will say it's gonna be tough to get a
• 18:21
  Speaker 3: tax bill done this year. It's not possible, but it's
• 18:24
  Speaker 3: gonna be tough. And I'd say the President to do
• 18:26
  Speaker 3: a lot of pressure tonight to try to get Congress
• 18:29
  Speaker 3: in the line. But that's probably the vehicle to look at,
• 18:31
  Speaker 3: and I would say it goes to the wayside.
• 18:33
  Speaker 4: We're looking at.
• 18:33
  Speaker 3: Twenty twenty seven, twenty twenty eight, probably for tax clarity.
• 18:36
  Speaker 3: But the upside it's by Parson. So the House version
• 18:39
  Speaker 3: was by Parson. I'm sure we'll see another version of
• 18:41
  Speaker 3: Senate soon that's by Parson. So that's good because as
• 18:44
  Speaker 3: we see right now, we need both sites to get
• 18:46
  Speaker 3: legislation done, no doubt.
• 18:48
  Speaker 1: Hey, let's go into our rapid round. A lot of
• 18:51
  Speaker 1: questions that we want to get answered from you, State
• 18:53
  Speaker 1: of the Union.
• 18:54
  Speaker 2: Tonight.
• 18:54
  Speaker 1: Trump defends stable coins, yes or no.
• 18:58
  Speaker 3: He won't defend the yield, with the White House being
• 19:00
  Speaker 3: pretty consistent saying, you know, the banks need to compromise here,
• 19:04
  Speaker 3: but crypto also needs to be ready to make some deals.
• 19:06
  Speaker 3: But they've never pushed their finger down exactly what the
• 19:08
  Speaker 3: position is. They just want something done. So I'm going
• 19:10
  Speaker 3: to go with no. But they're gonna say they want
• 19:12
  Speaker 3: a crypto bill.
• 19:12
  Speaker 1: Done, all right, I'm going to say no as well.
• 19:15
  Speaker 1: I don't think he defends Now. May he go out
• 19:18
  Speaker 1: there and put some pressure on the banks just in
• 19:20
  Speaker 1: general to get this across.
• 19:21
  Speaker 2: That's a possibility. Pot twists.
• 19:23
  Speaker 1: Stableco and yield fight is only the first fight with clarity.
• 19:28
  Speaker 1: What else could be happening? Here and which do you think.
• 19:32
  Speaker 3: Yes, the ethics, Yes, it's going to probably be AML.
• 19:36
  Speaker 3: They're going to back off the justin Sunish stories, the
• 19:39
  Speaker 3: CZ stories, and probably the Iran So yes.
• 19:43
  Speaker 2: Any yes is just the beginning. Nothing happens by March first.
• 19:47
  Speaker 2: What do you think.
• 19:49
  Speaker 4: We'll get across the nice of these?
• 19:50
  Speaker 3: I mean, define, I guess happens, but I think we'll
• 19:53
  Speaker 3: get a statement saying that they pretty much come to
• 19:56
  Speaker 3: a close deal in the yield issue. But I'm not
• 19:57
  Speaker 3: sure we'll see explicit text of what both camps exploded
• 20:00
  Speaker 3: we have agreed to. I think it'll be a little amorphous.
• 20:02
  Speaker 3: So something's gonna happen, but be concrete.
• 20:05
  Speaker 1: We have four days and two well five days, and
• 20:09
  Speaker 1: uh here, it would have to happen by this Friday,
• 20:11
  Speaker 1: pretty much. I mean, it could something happen over the weekend. Sure,
• 20:14
  Speaker 1: but I'm gonna I'm gonna say you're you're saying no
• 20:17
  Speaker 1: or yes.
• 20:18
  Speaker 3: I'll say no for something significant and concrete. But in
• 20:22
  Speaker 3: two weeks maybe.
• 20:24
  Speaker 2: I'm with you on that as well. All right, let's
• 20:26
  Speaker 2: go over to this one.
• 20:26
  Speaker 1: Why are Republicans even listening to bank demands for a
• 20:30
  Speaker 1: crypto bill? Is it the bank donors or are they
• 20:33
  Speaker 1: legitimate concerns by the Republicans.
• 20:37
  Speaker 4: You know, it's combat both.
• 20:38
  Speaker 3: So I'll put the bank donors as the kind of
• 20:41
  Speaker 3: lead here because that does carry the way, at least
• 20:43
  Speaker 3: in this current moment. We've seen the packs starting to
• 20:44
  Speaker 3: play a role get close to the election. But I
• 20:47
  Speaker 3: think you know, when you are a donor, you have
• 20:49
  Speaker 3: the ear of the congressman and woman, and so that's
• 20:52
  Speaker 3: a great in your case. Again, would be legitimate concerns
• 20:55
  Speaker 3: or not? They have picked off a couple of folks,
• 20:57
  Speaker 3: it seems like on both sides.
• 20:58
  Speaker 1: Yeah, I'm definitely on the band donors. This is all
• 21:01
  Speaker 1: about donations into the campaigns.
• 21:03
  Speaker 2: For sure, and in terms are so important.
• 21:05
  Speaker 1: Final CFT seed is appointed and confirmed before the clarity
• 21:09
  Speaker 1: comes through, yes or no?
• 21:11
  Speaker 3: I see, this is one of those those tough points
• 21:13
  Speaker 3: because confirmations are actually one of the sticky points for Democrats.
• 21:16
  Speaker 3: They said they want full SEC Commission and full Democrat
• 21:19
  Speaker 3: Commission and CEFC we don't have anyone besides Mike Sealing,
• 21:22
  Speaker 3: and that's what you know, it takes months to do.
• 21:25
  Speaker 3: I'm going to go with yes. Oh wow, actually, but
• 21:31
  Speaker 3: they could they can also do it in block. They
• 21:33
  Speaker 3: can just do like four nominees a one time, two
• 21:34
  Speaker 3: republicanscy Democrats. So there's ways to expect this process, but
• 21:38
  Speaker 3: it is becoming a sticking point for some Democrats right
• 21:40
  Speaker 3: now to get on board.
• 21:41
  Speaker 1: Well, I think the key word there is confirmed, you know,
• 21:45
  Speaker 1: because you know that's that's the key word appointed. I
• 21:48
  Speaker 1: think you could come up with all the appointments, whether
• 21:51
  Speaker 1: they would get through or not, it would be the
• 21:53
  Speaker 1: key there. And of course this is a big deal
• 21:55
  Speaker 1: for the Democrats right now because they need it. Congress
• 21:58
  Speaker 1: and lobbyist will insider trade. The non passage of clarity,
• 22:05
  Speaker 1: Oh my god.
• 22:06
  Speaker 3: I mean, I don't think even the drafters know what's
• 22:09
  Speaker 3: gonna happen here. I think there's so many I mean,
• 22:11
  Speaker 3: to your point, every day it seems like something's happening
• 22:13
  Speaker 3: in this bill. So I don't think there's even inside
• 22:14
  Speaker 3: information to this most point, you can only win, not passed,
• 22:17
  Speaker 3: so i'd see it's Congress, so maybe there is. But yeah,
• 22:21
  Speaker 3: this information changes a lot. And again, the last thing
• 22:23
  Speaker 3: I'll say too is the upside this policy issue Compared
• 22:26
  Speaker 3: to most policy issues in DC, it's really transparent, like
• 22:29
  Speaker 3: it's all on Twitter so and people.
• 22:31
  Speaker 2: Yeah, that's true. Who will the White.
• 22:34
  Speaker 1: House blame if Clarity doesn't pass? Biden, the Democrats or Coinbase.
• 22:40
  Speaker 4: I'm gonna go with Democrats on that one.
• 22:42
  Speaker 2: Yeah, I'm with you on that one too.
• 22:44
  Speaker 1: I don't think he's gonna go after the coin base boys.
• 22:48
  Speaker 2: Here we go. That pack is important.
• 22:51
  Speaker 1: Democrats aren't actually worried about fair shake in the midterms.
• 22:54
  Speaker 2: Do you think that is true?
• 22:57
  Speaker 4: No, they are worried.
• 22:58
  Speaker 3: And I think a punch will News article reference with
• 23:00
  Speaker 3: Chuck Schumer saying, I think you should watch these folks
• 23:03
  Speaker 3: in the packs. I think it's indicative right there that
• 23:05
  Speaker 3: this is it carries weight, whether you've loved this is
• 23:09
  Speaker 3: what the reality is.
• 23:10
  Speaker 2: I agree. I think they are plot twist.
• 23:12
  Speaker 1: House Republicans tank the Clarity Act like they almost did
• 23:15
  Speaker 1: on the Genius, And it goes back to your point
• 23:17
  Speaker 1: on the issue around cbdc's.
• 23:21
  Speaker 4: I think this.
• 23:22
  Speaker 3: I'm not sure they'll be successful in tanking because I
• 23:24
  Speaker 3: think what will happen is if we do get to
• 23:25
  Speaker 3: that point, I think Trump will just bring those folks together,
• 23:29
  Speaker 3: So I don't he'll take it. But I think that
• 23:31
  Speaker 3: the House Publicans are going to cause some concerns whatever
• 23:33
  Speaker 3: comes out of the Senate if it does.
• 23:35
  Speaker 1: Yeah, yeah, I'm kind of with you. I don't think
• 23:37
  Speaker 1: they'll tank it. And to your point is I think
• 23:40
  Speaker 1: Trump would come in and kind of supersede Congress should
• 23:43
  Speaker 1: in the filibuster.
• 23:44
  Speaker 3: Now techical question. I guess I'd say no because that's
• 23:50
  Speaker 3: just the trictionalist meme. But I knows a lot of
• 23:52
  Speaker 3: people who disagree.
• 23:54
  Speaker 2: Yeah, I'm one of them. I'm saying, yes, get rid
• 23:57
  Speaker 2: of it. Let's go, baby, let's get this stuff done.
• 24:01
  Speaker 1: As they say, Hey, Ron, it's always fun chopping it
• 24:04
  Speaker 1: up with you.
• 24:04
  Speaker 2: I'd love to get your insights too.
• 24:06
  Speaker 1: I know this is and continues to be top of
• 24:10
  Speaker 1: mind because this is essentially going to dictate how our
• 24:12
  Speaker 1: financial markets move in the future right here.
• 24:16
  Speaker 2: It's literally happening now exactly.
• 24:18
  Speaker 4: It's weird.
• 24:18
  Speaker 3: I've actually I had a couple of people in DC
• 24:20
  Speaker 3: comments about your podcast and how you cover it the
• 24:23
  Speaker 3: Clariact every single day, so it's kind of cool to
• 24:25
  Speaker 3: hear that's impacting DC and people, you know, rid the
• 24:28
  Speaker 3: wave of this huge fight.
• 24:29
  Speaker 4: So glad you're covering it.
• 24:31
  Speaker 1: Attention, Pay attention out there, everyone, pay attention. This is
• 24:35
  Speaker 1: bigger than you think. All right, It was good seeing you,
• 24:37
  Speaker 1: my man. Thanks a lot for coming in.
• 24:39
  Speaker 4: Thanks pall appreciate it.
• 24:47
  Speaker 2: If you like this.
• 24:48
  Speaker 1: Video, like and subscribe, drop a comment down below, and
• 24:51
  Speaker 1: also join our free private member group.
• 24:54
  Speaker 4: The link is in the description.