What's next for crypto after the Clarity Act collapse

00:00 Speaker A

Clarity Act failed, the regulators push forward, Coinbase added a bit of extra yield. Seems that we got one of those uh, you know, uh things where a decade happens in a day sort of situations last week. So maybe break down just quickly what you think happened with Clarity.

00:23 Speaker B

Sure. Um, and I know you had Brian on and uh you've got access to all the great policy people. So I don't want to be redundant to what they all said, but um, yeah, super disappointing. No no no question. Uh we've been preparing for it, I think towards the final days. You know, these things aren't absolute surprises. But uh, you know, I think I went on your show and I've did a few others since then where I kind of held out this delusional hope that they would ultimately do the right thing. But I think uh, you know, ultimately politics prevailed over what's best for the American consumer, uh, and that's a shame.

01:00 Speaker B

But I think, you know, not not trying to be um unnecessarily optimistic, but I think it's been it's been very, very clear. and I'm kind of was saying this towards the end, which is even if clarity died in letter, it would sort of live on in spirit. Uh and I meant that because we don't do market structure capriciously in this country and the the fact that it even got to that point is fairly extraordinary. And I think it's a bit of an understatement to say that the uh regulators, both SEC and CFTC in harmonization, which I think is key and we can talk about that in a second, um