Clarity Act Update 📰

✅ The Good:
Senate Republicans released an updated Clarity Act text that bans the President and covered officials from issuing digital assets and requires them to sell their crypto holdings or put them in a blind trust.
❌ The Bad:
- The ban sunsets at noon on January 20, 2029, and cannot be enforced after that! The next presidential administration can not enforce this prohibition for activities that occurred before then. This is also the year the CBDC ban sunsets.
- Democrats won't vote for the Clarity Act unless state Attorneys General are in charge of the ethics enforcement. This is unrealistic as it would allow each state to have different POVs on how to handle this.
Interesting related note - the House is set to vote on banning Congress from insider trading today.
#clarityact