Crypto LBRY
249 posts
@Cryptobands31
@LBRYcom 🐋 video platform enthusiast @Lbryfoundation. LBRY CREDITS #LBRY is on MEXC and now SimpleSwap The best is yet to come 🚀
LATEST: 🇺🇸 Senator Tim Scott says the Clarity Act will land on Trump's desk this summer, with Senate Banking Committee markup expected in May and a floor vote in June or July.
.@Sen_Alsobrooks and I have worked on a bipartisan basis with all stakeholders to address the banking industry’s concerns about deposit flight. They have had a seat at the table and have been directly sharing their feedback and ideas for months to inform the final product. We have worked in good faith with all sides throughout this process to encourage compromise and to avoid letting the perfect become the enemy of the good. The result is a substantially improved, consensus-based product. Our compromise prohibits stablecoin rewards from resembling interest on bank deposits, our core concern over deposit flight. Our compromise also allows crypto companies to offer other forms of customer rewards. Most importantly, it helps put us on a bipartisan path to pass the CLARITY Act, providing the regulatory certainty needed to foster innovation. Some in the banking industry may not want either of these things to happen, and we respectfully agree to disagree.
The final rewards text in the CLARITY Act is now public. We’ve been clear throughout this process: much of this debate was based on imagined risks, not real evidence, nor was it based on a real understanding of how crypto actually works. Nevertheless, the crypto industry showed up to engage. Through months of meetings, the @WhiteHouse, @USTreasury, @BankingGOP, @SenThomTillis and @Sen_Alsobrooks finally arrived at a compromise. In the end, the banks were able to get more restrictions on rewards, but we protected what matters – the ability for Americans to earn rewards, based on real usage of crypto platforms and networks. We also ensured the US can be at the forefront of the financial system – which in this competitive geopolitical era is paramount. That’s important for innovation, consumers and America's national security. Now that this issue is behind us, it’s time to focus on the broader bill. While this debate has been underway, lots of progress has been made on other areas like token classification, defi, and tokenization. We’re excited to review the full, final text, and for the bill to move forward. It’s time to get CLARITY done.
SCOOP: Sens. Tillis and Alsobrooks have finalized a compromise on stablecoin yield. Punchbowl News has the text - bans rewards that are “economically or functionally equivalent” to deposit interest - balances *can* be used for rewards if companies clear the “equivalent” test
When I returned to the @SECGov in 2025, my mandate was clear: restore clarity, integrity, and trust to an agency that had lost sight of its core mission. One year later, we are delivering on that mission, and the most important work still lies ahead. My latest in @dcexaminer ⬇️
Today’s Supreme Court decision effectively guts a key pillar of the Voting Rights Act, freeing state legislatures to gerrymander legislative districts to systematically dilute and weaken the voting power of racial minorities - so long as they do it under the guise of “partisanship” rather than explicit “racial bias.” And it serves as just one more example of how a majority of the current Court seems intent on abandoning its vital role in ensuring equal participation in our democracy and protecting the rights of minority groups against majority overreach. The good news is that such setbacks can be overcome. But that will only happen if citizens across the country who cherish our democratic ideals continue to mobilize and vote in record numbers - not just in the upcoming midterms or in high profile races, but in every election and every level.
