No one has any idea what's going to happen with the Clarity Act
1, 2, 3, 4... I declare a vibes war
No one has any idea what’s going to happen with the Clarity Act in the Senate.
Right now, lots of confident statements are getting made, but the statements about how this particular fight will turn out are, in fact, the actual fight.
The most illuminating statement came from Ron Hammond, a crypto lobbyist for Wintermute, the market making firm. Hammond told the FT:
“It’s still got momentum, and that’s the main killer or driver here. The second this bill loses momentum politically, I would consider it dead in the water, but right now, it’s got a lot of momentum.”
Hammond is right insofar as he points out that the most likely outcome will be the one that feels like it’s going to happen. At the end of the day, crypto legislation is a jump ball, and Senators will want to land on the winning side — whichever side that is.
The only thing everyone knows is that there are too many swing votes, too many frustrated stakeholders, too many unpred…