What investors should expect for crypto after Clarity Act fails to advance

00:00 Speaker A

Well, the Clarity Act failed to advance in the Senate on Tuesday. Who better to talk to about this than Scott Melker, host of The Daily Wolf. Right, Scott. So, start there. Clarity Act failed to advance. Why, Scott? Uh, just bring us up to speed. What happened here?

00:15 Scott Melker

Politics happens. Uh, unfortunately, and I think that it got very muddied by unfortunately becoming such a partisan issue. So, the Clarity Act was something that the American public overly, overwhelmingly supported, that was actually bipartisan in the house before it went to the Senate.

00:39 Scott Melker

Unfortunately, Democrats didn't believe that it was politically palatable to pass this and give Trump the win. It's not entirely their fault, of course, there's blame I think to go around. The crypto industry blames the banks, the banks blame the crypto industry, Democrats blame Trump, Trump and the Republicans blame the Democrats. Welcome to politics in the United States. I will say obviously Trump launching a meme coin three days before he was inaugurated, probably gave the Democrats all the fuel that they needed to oppose this, and unfortunately the Clarity Act just got caught up in those politics.