Leister

These are two parts.

Genius was designed to get some framework around stable coins.

This is why you might have heard news articles talking about banks getting on board with issuing stable coins.

And so it opened the doors for a connection, a legal connection between stable coins and fiat.

And it allowed oversight, clear oversight, instead of the Gensler era of regulation by enforcement.

The Clarity Act then gets written up and people are celebrating it, passes the House reasonably smooth, gets to the Senate Banking Committee, that may be clear, and they start to butcher it.

When I dug into it, and I didn't go deep until recently, but when I dug into it, it got me to think that, yeah, they're just going through the motions.

This is not something where they fully understand the appeal, and you're going to end up, in my opinion, with basically an offshoot of the stock market.

By the time, if this goes the way they've gotten it written, it's the same as the stock market.

You know, well, there's certain hours of trading, and then if it starts to have too much volatility, there needs to be halting.

And if we have a suspicion because your last name is Akhmet that we need to block the transaction and take your money, that's essentially the kind of things I see in there.

It occurred to me that certain YouTubers are, they're fixated on the, well, SEC is going to be out of debt and it's going to be CFTC and it's going to be treated as commodities.

So we're not going to get sued.

And if you do that, I'm going to break that down.

But it feels like some of them are not reading between the lines of what this really says, at least from my interpretation of said, I am highly concerned with what it is.

so at the basic level the clarity act is intended to do one main thing which is to better categorize assets digital assets as well as to better identify which of the two agencies in the u.s have the the oversight cftc which traditionally deals with commodities the sec which traditionally deals with securities

the gray cloud has been what is a security.

And if you heard Gary Gensler, that's security, that's security.

He called everything a security other than Bitcoin.

He straight said this.