The administration remains fully committed to getting the Clarity Act across the finish line in September. Durable rules, the kind only legislation can provide, are needed now more than ever. But we also can’t afford to wait forever. Every time Democrats have delayed this bill, America has fallen further behind in the digital asset race, jeopardizing our leadership role in global financial markets, weakening our national security, and denying law enforcement the tools they need to stop crypto crime. Clarity represents years of genuine bipartisan work, and Democrats still have a real opportunity to shape digital asset policy in America by helping pass it into law. Our door remains open, and we’ll keep negotiating in good faith all the way up until the September vote.

Congress has been working on crypto market structure legislation for years at this point. The Senate alone has been actively negotiating the Clarity Act since last summer. But this past week, Chuck Schumer and the “pro-crypto Democrats” pulled out all the stops to block a mere procedural vote on the bill before recess, demanding yet another extension. If they can’t get there by September 15, they never will.

Many people reached out yesterday asking for my thoughts on this WSJ article. As I told them, I don’t find the “Wall Street” Journal regurgitating the talking points of “Wall Street” banks to be particularly newsworthy. The article was not intended to be a serious piece of journalism, as evidenced by its myriad false claims which were easily disproven by many on this app.

Crypto is at a pivotal moment. As Congress debates landmark market structure legislation, Marc Andreessen and Chris Dixon discuss the decisions that could shape where the next generation of financial infrastructure is built, and whether the United States remains the global leader in crypto innovation: 00:00 Intro 05:31 From crypto subculture to financial infrastructure 08:37 Why crypto needs rules now 12:20 The regulatory war on crypto 15:41 How CLARITY could prevent another FTX 22:42 Why criminals using crypto may be easier to catch 26:20 Privacy, blockchains, and the invention of HTTPS 30:41 Government ethics and crypto 34:52 The banking lobby’s stablecoin fight 37:05 Why every major bank is building on blockchains 41:04 Developer liability as a killshot 45:23 How CLARITY provides oversight 49:30 What happens if CLARITY fails? 50:50 Regulation vs. innovation 54:12 Why America should lead 55:36 What CLARITY could unlock @pmarca @cdixon @rhackett

I support advancing the CLARITY Act through bipartisan work to establish clear, durable rules, protect property rights, promote innovation, and strengthen American capital markets. Bitcoin will succeed with or without legislation, but America needs clarity for digital assets.

The Fraternal Order of Police, the Federal Law Enforcement Officers Association, the National Organization of Black Law Enforcement Executives, and the Major Cities Chiefs Association have all endorsed the Clarity Act. The Major County Sheriffs of America also publicly walked back their prior opposition to the bill after improvements were made. It is not clear why NSA is so radically out of step with the broader law enforcement community.

Big Bank Beth @SenWarren hates President Trump so much that she’d rather have no rules of the road for the digital asset industry — leaving consumers vulnerable and law enforcement empty-handed — than take the win for consumers. Let’s get the facts straight on her “fact sheet”: 1. She claims the blind trust is a shell game. It’s not. By law (5 U.S.C. §13104(f)(3)(A) and 5 C.F.R. 2634.403), a trustee is barred from disclosing trust holdings back to the official. That’s not a loophole, it’s literally what makes a blind trust blind. Read the law for yourself below. 2. She claims $TRUMP proves the president would create new coins. But $TRUMP launched when President Trump was a private citizen. The ethics ban applies to conduct while serving. You can’t retroactively ban something that happened before the law — or the presidency — existed. That’s how the law in the Soviet Union worked, not America. 3. She acts like Trump’s adult children running WLF is some unprecedented dodge. It’s not. Federal ethics law has never imputed financial interests from adult, independent children — only spouses and minor children. That’s not new to this bill; it’s how conflict-of-interest law has worked for decades. The facts speak for themselves. Don’t fall for Liz’s lies.

Grayscale Investments, the world’s largest digital asset-focused investment platform¹, just sent a letter to the Senate requesting a floor vote on the CLARITY Act before the August recess. "Senators and staff across the aisle have spent months addressing hard questions about jurisdiction, investor protections, and developer safeguards. The framework that emerged protects investors, shields legitimate developers from overreach, and provides the certainty Americans deserve." After months of bipartisan work, the industry is ready for CLARITY.

One of the most important things for the pro-crypto and anti-crypto sides to understand is this: The tech is the tech. We don't demonize electricity when someone commits fraud on the internet. Police the actors, which means pointing fingers accurately.

Thank you @SecScottBessent for your support of my Blockchain Regulatory Certainty Act. Republicans in the House, law enforcement stakeholders, and the Trump administration are all in agreement: pass the Clarity Act now!

More than a year ago, the House passed the Clarity Act. There’s been progress since — thousands of hours of bipartisan negotiations took place at the staff and Member levels. The Senate Committees on Banking and Agriculture advanced their respective titles. And Senate Republicans produced a floor-ready product that, as I type this, is waiting for a vote. It’s disappointing — but not surprising — that Senate Democrats are choosing politics on the cusp of a major victory for American leadership. Find another instance in history where Congress, when given the choice, opted to push an industry out of the United States rather than smartly regulate it. American Exceptionalism was once a bipartisan goal; if Clarity fails, I have serious doubts. These same Democrats — many of whom have taken millions of dollars from the crypto industry — proclaim that Clarity lacks safeguards for consumers and falls short in countering illicit finance. Nothing could be further from the truth. Titles II and III materially uplift regulatory and compliance obligations for digital asset intermediaries, placing them on similar footing with traditional financial institutions. The Blockchain Regulatory Certainty Act — which Washington lobbyists have spun up as a boogeyman for certain groups of prosecutors and law enforcement — does nothing other than codify longstanding Treasury Department policy that’s remained consistent across Administrations: non-custodial builders and developers are not, and have never been, subject to registration obligations under the Bank Secrecy Act. And at this point, major law enforcement trades that once opposed the bill, including the Fraternal Order of Police, have now endorsed it. The Senate needs to vote NOW on this landmark legislation. The truth is that Senate Democrats are afraid to advance the Clarity Act as they fear Senator Warren and the “Anti-Crypto Army” she once promised to build. In the days ahead, Leader Thune will put this theory to the test. Will Senate Democrats be on the side of American Exceptionalism, or will they opt to cede American leadership of a global industry for fear of the bespectacled squirrel’s Left flank? America will lead or America won’t. It’s not more complicated than that. I believe Satoshi once said it best: “If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”

The CLARITY Act could establish the first comprehensive regulatory framework for crypto market structure in the United States. So why has it taken Congress so long to pass it? @milesjennings, Head of Policy and General Counsel at a16z crypto, joined @MTSlive to explain what the bill would do, why existing securities laws are poorly suited to decentralized networks, and how the legislation would divide oversight between the SEC and CFTC. 0:00 Intro: Why hasn’t the CLARITY Act passed? 01:02 What the CLARITY Act would do 02:52 Why legislation has taken so long 03:59 Networks versus companies 05:39 How digital assets are classified 05:51 How the GENIUS Act regulates stablecoins 06:44 What is a network token? 07:23 Digital commodities versus securities 08:20 The four major digital-asset categories 09:20 Who is liable in decentralized finance? 10:45 Why oversight is split between the SEC and CFTC 12:25 Protecting consumers without requiring control 13:14 Will the CLARITY Act pass?

It's time to get CLARITY done. Thanks to everyone who’s worked tirelessly to get us to this point, a true bi-partisan effort. Clear rules are almost here - we’re at the one yard line.

Today, @Blocks sent a letter to Senate leadership with one ask: Move the Clarity Act to the floor for a vote. This bill would provide long-awaited regulatory clarity, while enshrining critical developer protections (BRCA) and the right to self-custody into law. The time is now.

JUST IN: 🇺🇸 Major venture capital firm DCG sends letter to the Senate supporting the Clarity Act: "We respectfully urge you to schedule a floor vote on the Digital Asset Market Clarity Act before the August recess." 👀

Banks: We must ban the payment of interest on stablecoins to protect community bank lending! Clarity Act: Bans payment of interest on stablecoins. Banks: The Clarity Act must be stopped, or it will destroy community bank lending!!! Make it make sense… 🫠