Congress votes on the Clarity Act September 15th to split crypto regulation between the SEC and CFTC, but the SEC is voting within 48 hours first. The SEC's temporary rules will likely shape the permanent law, making this the most significant financial regulation change in centuries.
We finally have a real date for the vote on the Clarity Act, which is September 15th. But then the SEC came in and said, no, we're going to have our own vote in exactly 48 hours. That front runs Congress. Let me explain what I mean by that. So right now, America has no clear rulebook for cryptocurrency. The Clarity Act is supposed to solve that. The Clarity Act will put every single coin and project into 2 categories, one that is overseen by the SEC And one that is overseen by the CFTC. And because this process has been taking so long and it's been delayed so many times, SEC got tired and they're like, you know what, we're going to make our own rulebook in 2 days. We're going to make our own vote. Now, this is a temporary fix, not a permanent one. The Congress Clarity Act is the permanent one. But what I believe is going to happen is actually going to influence the Clarity Act a lot. Whatever happens in the next 2 days will likely be The precursor to the real Clarity Act. Basically what I'm seeing is a very aggressive attempt at getting the rules ironed out for the Clarity Act on both ends. The Democrats and the Republicans are fighting extremely hard, which to me just increases the importance of it. So watch what's going on, cuz it'll be very important. It will be the most pivotal change in American finance in the next 200 to 300 years. You better be paying attention to what goes on. I'll update you when it comes.
