Crypto Council for Innovation
@crypto_council
A global alliance of industry leaders dedicated to unlocking the promise of crypto.
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1/ It’s Monday and we have a big week ahead for the Clarity Act. As CCI goes back to the Hill, we are countering the Clarity myths and setting the record straight. 🧵
Illinois Governor Pritzker just signed the most punitive digital asset tax in the country into law.
This will create an unprecedented tax regime that disproportionately burdens Illinois residents for simply using digital assets and will drive innovation and builders out of the state.
Read CCI’s opposition letter for more.
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Today, at the @Vault__Summit, CCI launched the Vault Coalition.
Anchored by @galaxyhq and @Morpho, this is a focused industry effort to advance regulatory clarity for vault structures in digital assets. Why did CCI launch this? ⬇️
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Clarity advanced out of the Senate Banking Committee by a vote of 15-9.
Thank you to Chairman @SenatorTimScott, @BankingGOP, @SenateBanking, and Committee Staff for all of the work and leadership with debating and today’s vote. CCI particularly appreciates all of the Senators who voted in favor of advancing Clarity, including @SenRubenGallego and @Sen_Alsobrooks.
Today’s bipartisan vote is a critical step forward that puts the U.S. back in the global race for digital assets. We look forward to working with the full Senate as Clarity now heads to the floor.
A statement from our CEO @_jikim follows:
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Market structure and tax reform are necessary for comprehensive, durable U.S. leadership in digital assets.
Read CCI's full letter to the Ways & Means Committee👇
/ end.
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Today marks a critical milestone in the Senate Banking Committee - moving the U.S. one step closer to the comprehensive, durable market structure framework.
But for the U.S. to lead, it needs both market structure AND a workable tax framework.
The House Ways & Means Committee had an important briefing on digital asset tax issues this morning. CCI and our members sent a letter.
Key points for @WaysandMeansGOP and @WaysMeansCmte: 🧵
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Senate Banking will markup the Clarity Act today, and CCI will be there. A lot of hard work and leadership went into this process from the full Committee and staff.
This is an important step that will put the U.S. on a path to a durable federal framework for regulating digital assets with robust consumer protections and clear protections for developers.
We respectfully urge the Committee to advance the bill.
Watch:
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The following statement is attributed to @crypto_council CEO @_JiKim and @blockchainassn CEO @SummerMersinger in response to law enforcement concerns about the Clarity Act:
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CCI congratulates Kevin Warsh on his confirmation as Chair of the @federalreserve Board of Governors.
Statement from our CEO @_jikim
