Sabitlenmiş Tweet
The CLARITY Act appears fine to people who haven't read it or understood the history of financial regulation in the United States.
That is the trap. The bill does not capture Bitcoin. The five years after it passes do.
1/ CLARITY defines BTC as a digital commodity. Every regulated exchange, custodian, and stablecoin issuer comes under federal registration with Travel Rule and wallet-screening duties.
2/ Treasury rulemaking does the rest. FinCEN expands Travel Rule thresholds. OFAC's sanctions list grows. Chainalysis and TRM Labs become the de facto licensors. Your coins are not legal or illegal. They are scored.
3/ The Samourai prosecution and the Tornado Cash conviction set the precedent. Privacy tools become "unlicensed money transmitters" under 18 USC 1960. Mixers vanish. Coinjoins die a quiet death in plea bargains.
4/ Mining follows the money. OFAC-screened block templates already exist. The 2021 experiments proved them. By 2028, the largest US pools run them by default. Non-compliant miners lose banking, hosting, and power contracts.
5/ Lightning is not the escape. Liquidity providers register as MSBs. Routing nodes screen. "Clean channels" emerge. Even a coffee payment touches a KYC'd pool. The mesh network that was supposed to free your sats licenses them on the way out.
6/ Off-ramps close around dirty coins. You cannot pay taxes with them. Your bank will not accept the wire. Your employer cannot issue a salary in them. Your landlord's processor flags the deposit. Self-custody stays legal. Spending becomes permissioned.
7/ By 2030 the ETFs hold the only Bitcoin that moves. BlackRock, Fidelity, the Treasury's strategic reserve. Yours sits in cold storage as a museum piece. Decentralized in protocol. Sovereign-licensed in practice.
The bill does not need to do any of this. The bill just needs to pass.
English
