The Clarity Act is a Complete Distraction

There is a lot going on in the world

right now. But when it comes to what's

happening and what it means for you and

your money, one of the focuses of

legislators in the United States is

what's happening with what is called the

Clarity Act. This is the landmark

cryptocurrency infrastructure bill that

will determine the future of the

blockchain and cryptocurrency industry

in the United States.

But the Clarity Act has been stuck in

the Senate with no confirmed markup date

and unresolved fights over stable coin

yield, DeFi,

and token classification.

Now, the biggest near-term dispute that

is still ongoing is stable coin yield.

whether or not stable coins are going to

be able to provide yield on their stable

coins or in what way crypto platforms

can offer yield. But while this debate

continues on with the dates for when

people expect the Clarity Act to

actually be signed continuing to be

pushed back,

other countries are making moves. And

another piece of legislation is also

making its way to Congress that honestly

nobody's really talking about just yet.

In Japan

in April, we saw their cabinet approve a

bill classifying crypto as a financial

instrument. The bill will now proceed to

Japan's lawmaking body for debate and

final passage.

Now, if enacted, the changes would come

into effect as early as 2027.

One of the major things that they're

doing is just providing overall guidance

on the crypto industry as well as

treating crypto as property rather than

as currency. And on top of that, we have

Russian lawmakers also making a move to

fully regulate crypto. In the

legislation that they are pushing

forward, crypto is actually banned for

domestic payments. In Russia, you would

not be able to use crypto to buy things

as only the ruble is allowed to be used

in that manner.

But guess what?

Russia says in this particular

legislation that it is okay for crypto

to be used for international trade. And

this is a real strategic move here,

right? Let's dig into this a little bit.

Russia is basically saying, look, you

can't use crypto at home, but you can

use it around the globe. And this allows

Russia, for instance, to be able to use

crypto as a way to bypass sanctions and

the overall US-based financial system,

right at a time where that conversation

could never be more relevant,

considering the geopolitical tensions in

the Middle East and Iran's incentive to

move payments for oil away from the US

dollar. On that same topic, Pakistan's

central bank recently lifted its blanket

ban on crypto services, allowing banks

and financial institutions to serve

licensed crypto firms under a new

regulatory framework. This move follows

the 2026 virtual assets act and comes as

Pakistan, already one of the world's

largest retail crypto markets, pursues

plans for other things involving

blockchain and distributed ledger

technology, including uh tokenized state

assets and expanded Bitcoin mining and a

national stable coin. But something else

that's actually happening in the United

States that just came out this week and

that's barely making any headlines is

what's called the PACE Act. Two

representatives have unveiled the

bipartisan PACE Act to create a national

payments license for fintech and crypto

companies. And this bill would permit

these institutions to access Federal

Reserve payment services.

It also looks to reduce costs for

consumers who often end up having to pay

fees that get passed down layers of

different banks just to access the AC

system. Representative Sam Licardo said,

quote, "We can reduce the burden of bank

fees borne by too many American families

by enabling broader access to innovative

payment systems that deliver cheaper,

faster, more reliable service. I'm proud

to partner with Young Kim on this

bipartisan PACE act to modernize our

payment system for the benefit of

millions of cashstrapped Americans." End

quote. Eleanor Tourett, an incredible

journalist, has actually called out how

this is in alignment with Federal

Reserve Governor Christopher Waller's

skinny master accounts concept, which

Kraken gained access to earlier this

year. Essentially, Kraken was granted

access to the federal payment system in

a way that's slightly different from how

a traditional normally charted bank

would, but also in a way that crypto

companies have almost never had access

to before. For instance, Kraken is able

to use federal payments systems, but not

necessarily able to get interest on

their reserve balances.

And this helps to integrate crypto into

the financial system, but without having

to completely have the fully regulated

bank status. And on top of that, what

this is really about is the Fed saying,

"Look,

we are okay with testing this out and

seeing what happens when we let crypto

firms in the door, and Kraken is the

first one to get that done. But with

this new PACE act, there would actually

have to be a much smoother process for

much more of the crypto companies to

actually get access to uh the Federal

Reserve payment systems. Now, look, I'm

not a financial adviser and none of this

is financial advice. In fact, I highly

recommend that you do not take financial

advice from a random guy walking around

the park

talking to a stick.

Nearly 60% of the largest banks in the

US are either already offering Bitcoin

related services or expect to do so in

the near future. And that's according to

research from Bitcoin financial services

firm River. We had IBM announce the

launch of institutional Bitcoin and

crypto wallets coming up.

Legislators around the world are now

pushing this industry forward. And we

even had US Admiral Paparo say that the

United States is running a Bitcoin node.

>> We have a node on the Bitcoin network

right now. We're not mining Bitcoin.

We're using it to monitor and we're

going to we're doing a number of

operational tests to to secure and

protect networks using the Bitcoin

protocol. I want to be super hyper clear

here that you do not have to like this

technology or this asset class, but we

do have to be aware of what is actually

taking place in the world and what it is

that we can do about it. Look, if you're

still on the fence about whether or not

you want to get involved with the

digital asset industry or if you're

looking for places that you can know

that you can have a trusted partner when

you're buying and selling digital

assets, I highly, highly, highly

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Brown. I recently formed a partnership

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broker, right, when it comes to making

decisions about what you want to do with

your digital assets or even just to help

educate you on how this stuff works. So,

if you're looking for somewhere where

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want you to click the link in the pinned

comments or in the description of this

video, register for a free account with

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email verification, do your KYC, upload

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can actually email him. I'm putting his

email also in the description of this

video so you can shoot him an email and

say, "Hey, Keith sent me. I want to

learn more about what you guys are