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00:00 Tomorrow, for the first time, the Clarity Act faces a make orb breakak vote. >> Breaking news. The Clarity Act odds have jumped ahead of tomorrow's Senate vote as Trump agrees to ethics changes. If you hold Bitcoin, this affects you. If you hold Ethereum or altcoins, this affects you. Watch today's whole video so you understand everything. This is the big crypto bill going through Congress.
00:23 The votes tomorrow. And with under 24 hours remaining, the Senate Republicans along with Trump have released their last, best, and final draft of the Cryptoclarity Act, including an ethics proposal backed by President Trump. The bill is now headed for a critical Senate vote on Tuesday, and the vote will require 60 votes to advance legislation. Now, here's exactly how the bill has changed, what President Trump has agreed to.
00:50 I loved first this explanation on Bloomberg. We did get updated text for this bill last night, released from the majority side, from the Republicans that included, they say, many changes that Democrats wanted, including an updated ethics provision that will give state attorneys general some authority to enforce some of the ethics rules. It will also require president and presidents and other elected officials to either put their digital asset holdings into a blind trust or force devestature.
01:17 The question is, will this be enough for Democrats to get on board since so far we've only really heard from the White House. But it is notable that there was this updated ethics provision because it does mean that President Trump agreed to it after we had heard at this point for weeks that the president wasn't really looking to negotiate around that issue.
01:38 So this latest draft of the Clarity Act would force divevestigure and also give state attorney generals the ability to sue to enforce the ethics provision. The text is different from the last version of the bill released last Thursday. It should be noted that in response to this, a bipartisan coalition of 17 state attorneys generals urged the Senate to reject the Clarity Act.
02:03 Basically what the state attorney generals are saying led by Leticia James is saying that it's not enough. We write to urge the Senate to expressly preserve the police powers of the states and ensure that the states remain armed with the tools necessary to protect the American people from predatory scammers. As the epidemic of online scams continue to grow, we remain firmly opposed to any federal statutory changes that would displace states authority to oversee the securities and commodities markets to protect everyday
02:39 Americans. So really, if you read the letter, and it's actually all six pages, by the way, click the like button if you appreciate me bringing you the actual original sources so you have all the information as a crypto investor. Click the like if you appreciate that. It's really not even about Trump anymore. They're urging the Senate to reject the Clarity Act because they don't want federal oversight.
02:58 They want the states individually to be able to have the power to fight crypto crime on their own. They don't want federal legislation. Outrageous. And of course the other big revision to the Clarity Act which now has again some banker some independent not bankers independent banks around the country again saying do not pass the Clarity Act for stable coin yields.
03:22 As of four hours ago the banks escalate stable coin rewards fight as the Senate prepares for a clarity vote. Here's the breakdown. >> Another issue though has appeared to really come into the forefront and that has to deal with yields on stable coin holdings. There is a growing push back from community banks that are concerned that if uh yields or reward programs are uh allowed to be uh given on your stable coin holdings that could contribute to something known as deposit flight out of these community banks.
03:54 and we're waiting to see whether or not there are still concerns with this updated proposal that would essentially have something known as a circuit breaker uh provision that could allow the Treasury to step in if there is significant deposit flight. >> So, everybody is clawing at each other in the last final possible hours. Eight banking groups on Monday said they want tighter limits on stable coin rewards, keeping the ongoing banks versus crypto dispute alive in Congress.
04:23 And with 60 votes needed to pass the bill out of the closure vote. So, by the way, this is isn't even a vote tomorrow to pass the Clarity Act. This is a closure vote to decide if the Senate can then debate and have the final vote for the Clarity Act, the real vote, but with 60 votes needed to pass it out of closure. There's 53 Republicans in the Senate controlling the Senate right now.
04:50 Two might sit out. due to illness or just not not present and 45 Democrats and two independents. You do the math. We need 7 to n Democrats to cross over to pass the Clarity Act out of closure. Can we get 7 to nine Democrats to say yes? Well, the Democrats have responded. And by the way, click subscribe to Altcoin Daily for daily updates keeping you informed on what's happening with crypto.
05:18 It's completely free. It costs you nothing and you will never regret tuning in for one video per day keeping you informed on what you're invested in. As of a few hours ago, a group of Senate Democrats are expected to meet this evening to discuss strategy on the Clarity Act and coordinate a counter proposal to the text Republicans released last night, despite the GOP's insistence that this is their last, best, and final offer.
05:48 This comes less than 24 hours before the bill's first big test on the Senate floor. My prediction, and we'll see this how this plays out in less than 24 hours, but my prediction is that on September 15th, we do pass the Clarity Act out of closure, but it's a big if if we actually pass the final version. That might not be until end of September, beginning in October.
06:10 Either way, there'll be only 12 days after tomorrow to to debate it and get a final vote on it. And here's big news. If you follow us on X, you saw that we posted this link below. But breaking, the Strategic Bitcoin Reserve is officially scheduled for a vote on Wednesday. So while the Clarity Act closure vote is happening in the Senate, the Strategic Bitcoin Reserve vote is happening in the House.
06:36 This is HR8957 for those who want to look up the actual text. But this would codify the US Bitcoin Reserve into law. put the reserve under the US Treasury to control in custody, require reserve BTC to be held for at least 20 years, and establish quarterly proof of reserve reporting and audits. Essentially, this would mean that Bitcoin would be the only asset on Earth that the United States has committed they will never sell.
07:05 And in fact, they're actively trying to accumulate more if passed. But don't get too excited yet because Wednesday's vote is just within the United States House Financial Services Committee. It's an early step and the bill would still need approval and a full vote from the full House, the full Senate followed by the president's signature. So early stages, but progress is happening.
07:30 Also, again, this is breaking news. Senator Mitch McConnell, who is a Republican who's been having health problems and who has not been seen for months and months. He's been out of the Senate for over three months. Looks like Senator Mitch McConnell will be back for tomorrow's vote on the Clarity Act. We can assume he's probably voting for the Clarity Act if he's keeping step with the Republicans.
07:55 Looking at the technical analysis, my prediction is this for everybody trading. And if you are trading, sign up with exchange partner WEX for $10 immediately, free $10, and then join Altcoin Daily in the rise of intelligence. Join team human or if you have a trading bot, you can plug that right in or join team AI and get your share of over $600,000.
08:19 The winning team gets a 70% of that share. The losers get 30%. So either way, if you're trading, just join the team. Even if you lose, you get 30%. Only 27 days remaining. Link below. And if you are trading, expect major volatility because Bitcoin remains, we're looking at the weekly chart, right underneath, still not able to break above in any real case, above the 50week moving average.
08:45 If we can pass tomorrow in the Senate, I predict a pop, a breakout. If we can't even pass the closure vote, I think it would be a retest. further lows. I'm looking at the 72. If we can pass and if we get great news, I predict a pop out of it. Although, I will need need a full week to go by. I need a full weekly candle above the 50we to confirm the breakout. I'll be watching as I get more information. I'll make a video. Like all we see tomorrow.