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🚨 BREAKING: The House has passed both the GENIUS Act and the CLARITY Act with bipartisan support.
CLARITY, the crypto market structure bill, heads to the Senate.
GENIUS, a bill establishing a regulatory framework for stablecoins, heads to Trump's desk. The president plans to sign the bill into law tomorrow.

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🚨 NEW: Rep. Sam Liccardo (D-CA), a pro-crypto Dem representing Silicon Valley, just told me he's voting *against* the CLARITY Act this week, and expects other Dems in the "crypto-friendly cabal" to do the same
Why? Liccardo says he wasn't even holding out for conflict of interest language in the bill about President Trump. He said he knew that would be unrealistic. He said he just wanted "a very modest approach to self-regulation" for DeFi, that "would inform consumers about which DeFi service providers are meeting best practices."
Liccardo said House Republicans refused to budge on CLARITY's language, however, and though he wanted to get to yes, he now says he has no choice but to vote against CLARITY. He still plans to vote for GENIUS.
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🚨NEW: DeFi leaders are coming out swinging against the CLARITY Act, saying the bill would “continue the trend of forcing DeFi developers overseas." Top DeFi stakeholders tell me they’ve held their tongue about the bill for months, but now feel they have no choice but to go public with their concerns, given a final House vote is coming as soon as tomorrow.
Elements of how the bill treats DeFi are “really problematic” and “impossible” for software developers to comply with, one DeFi policy expert told me.
Another top lobbyist told me DeFi leaders have refrained from whipping votes for CLARITY on the Hill because the bill will boost major crypto corporations, but “leave developers in the lurch.” These DeFi players have been vaguely supportive of the bill in public, but privately, have major, fundamental issues with it.
“This is a bill written by and for the big companies in crypto, which feels antithetical to the industry.”
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