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JUST IN: 🇮🇷 Iran to require ships passing through the Strait of Hormuz to pay tolls in Bitcoin, FT reports.

🚨 The US just rewrote the rules for crypto. Most people still don't get what the CLARITY Act is and why it's MASSIVE. Here's everything in 60 seconds 1. The problem it's solving For years, the SEC and CFTC were both claiming control over crypto. Nobody knew the rules. Exchanges couldn't tell users if a token was a commodity or a security. Builders left the US. Institutions stayed on the sidelines. "Regulation by enforcement" was the law of the land. 2. What the CLARITY Act actually does It draws a clear line: CFTC controls crypto commodities (think BTC, ETH spot markets) SEC keeps oversight over token fundraising & issuances No more overlap. No more gray zones. First time in US history. 3. Where it stands right now ✅ Introduced: May 2025 ✅ House passed: July 2025 (294–134 bipartisan vote) 🔄 Senate: still in negotiations ⚠️ The holdup? Banks vs. crypto over stablecoin yield banks don't want stablecoins paying interest. Crypto firms do. 4. Why the clock is ticking Midterm elections hit November 2026. If Republicans lose the Senate, this bill's political dynamics flip entirely. The window to pass it is basically: now or never. Polymarket currently gives it a 54% chance of passing by end of 2026. 5. What happens if it passes Institutional money finally enters with confidence US becomes the global crypto capital (that's literally what Trump wants) DeFi protocols get a legal framework for the first time Exchanges can list assets without fearing an SEC lawsuit the next morning 6. The wildcard Banks are still fighting it hard. The American Bankers Association rejected a White House compromise in March 2026 that would've allowed limited stablecoin yield. The latest Senate draft leans toward the banks. Circle lost $5.6B in market cap in a single session when that news dropped. The CLARITY Act is the most important piece of financial legislation in a generation. It either gets done before August 2026 or gets buried until after the midterms.