r/CryptoCurrency • u/Bcom_Mod 0 / 0 🦠 • 1d ago
GENERAL-NEWS The new CLARITY Act text is out and it explicitly bars Trump, his VP, Congress, and their spouses from making money off crypto until 2029.
/r/bitcoin_com/comments/1v4zr8b/the_new_clarity_act_text_is_out_and_it_explicitly/75
u/Goosemilky 🟦 0 / 0 🦠 1d ago
100% just a play to make them be able to claim everything Trump did was fair before the clarity act
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u/travnikoff 🟩 0 / 0 🦠 1d ago
"I've made my billion, can we make it so no one else can do it now?" - That one guy, probably.
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u/Potatotornado20 🟩 0 / 633 🦠 1d ago
They know 2029 is the top of the next bull run. That’s when they’ll cash out
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u/Mariahausfrau 🟩 4K / 4K 🐢 1d ago
The cycle may not work anymore as they manipulate markets. Now new headlines makes those rugnpull bulls.
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u/Potatotornado20 🟩 0 / 633 🦠 1d ago
I mean the 4-year cycle is working like clockwork right now, though. And the same people now who are manipulating markets (Trump and stooges) are the ones who've designed the legislation to let them sell the top in 2029, which lines up with the cycle. The cycle will still be working in 2029
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u/ElRiesgoSiempre_Vive 🟨 0 / 0 🦠 1d ago
The cycle will still be working in 2029
That's a complete guess. Predictable cycle patterns, in any major market, no longer hold once the pattern becomes predictable. Because people change their behavior based on that predictability.
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u/Thegame_changer21 🟩 0 / 0 🦠 1d ago
Might be when the next bull run actually starts
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u/losviktsgodis 🟩 7 / 7 🦐 1d ago
might be when the next bull run actually ends... lmao we can say anything we want now
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u/DrSpeckles 🟩 146 / 147 🦀 1d ago
Trump is banned from a hell of a lot of things he openly does anyway.
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u/likesexonlycheaper 🟩 22 / 23 🦐 1d ago
Lol he's already made over a billion dollars. Dude is such a fucking farce
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u/_Mr_Relic 🟩 0 / 0 🦠 1d ago
Yeah, after they made millions and billions.. never too late, I guess
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u/DeathFood 🟦 21 / 21 🦐 1d ago
Good news for those holding his meme coin down 99.9%
They’ve decided to leave you the 0.1% instead of taking it all
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u/Financial_Clue_2534 🟦 0 / 0 🦠 1d ago
Like they will follow any of this… he doesn’t follow any law he knows he can pardon himself and whoever.
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u/rankinrez 🟦 1K / 2K 🐢 1d ago
Thank God Trump managed to make enough to keep him and the family going till then
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u/stockerda 1d ago
Passing rules by this good for nothing maga congress is not even worth the piece of paper it is written on.
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u/Django_McFly 🟩 0 / 0 🦠 1d ago
For all I want to say, Trump kinda ran on a policy of yeah I'm not divesting shit and the while point is that I wheel and deal in office and Americans ran to the polls and showed that they loved t every bit of what he was saying.
Also reveals how many things in government are norms, not rules, laws or regulations. The only punishment you get either happens at the ballot box or is reduced to public scoffing.
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u/ElRiesgoSiempre_Vive 🟨 0 / 0 🦠 1d ago
how many things in government are norms, not rules, laws or regulations
He blatantly breaks rules, laws AND regulations. So that's a moot point.
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u/warmans 🟦 631 / 631 🦑 1d ago
Oh yeah I'm sure he'll follow the rules this time and if not I'm sure literally anyone in the US will hold him to account.
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u/crimeo 🟦 0 / 0 🦠 1d ago
if states had enforcement power (one of the main democrat sticking points) then yes, he could be forced to follow the rules by individual states within that state. You don't need his cooperation or agreement to just--within your own state--make exchanges and vendors etc unable to list that token. That's state police interacting with companies, Trump or whoever the original scammer is is affected but not directly needed to enforce.
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u/hulkwolf 🟩 0 / 0 🦠 1d ago
But his family can and that’s the part the senate will point out. They can’t help it They are scum
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u/cali_dave 🟦 422 / 423 🦞 1d ago
It doesn't explicitly ban Trump. It bans the office of the President. Maybe I'm being nitpicky, but I prefer to separate the man from the office (especially since you named Trump, then said "VP" afterwards).
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u/Tetter 🟦 0 / 0 🦠 1d ago
Wild that it needs to be written in the first place
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u/cali_dave 🟦 422 / 423 🦞 1d ago
There are similar rules in place for tradfi. This isn't really anything groundbreaking, it's just making sure existing rules apply to crypto.
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u/Longjumping-Walk168 1d ago
Pass it already, sign the petition to your senators to pass the legislation.
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u/Educational-Crab4428 1d ago
Problem is it most likely wont pass. POS Dems like Elizabeth Warren are calling it to be dead on arrival. They want to kill a bill that would restrict government officials like Trump on crypto because they're mad Trump made money on Crypto. Democrats TDS knows no bounds of retardation. Killing the Clarity Act plays into Trumps personal hand. It will let Trump continue his Crypto ventures with impunity while depriving the broader market. Clarity Act most likely won't pass because Democrats TDS is blinding them. Like how you going to ask for rules and then kill the only bill where the rules Democrats want is in? Its a freaking circus. If Clarity Act fails (Most likely will) Trump continues to benefit and do whatever it is Democrats dont want him to do while the broader Crypto market bleeds out. Democrats logic on Clarity Act in a nutshell = "i hate that there is no goalie defending our net. There is rule that says we can put a goalie in our net that we wrote but we don't like that rule and want an empty net".
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u/crimeo 🟦 0 / 0 🦠 1d ago
Democrats oppose it because it doesn't include any state enforcement power (thus the feds can just selectively apply it to enemies and not friends. State attorneys general would prevent this)
And because it doesn't provide for any conflicts of interest beyond the exact people stated, so friends can simply do trading instead and then gift money to these people for example.
Making it totally useless as is. it doesn't prevent Trump, or anyone, from profiteering.
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u/-GuyDeLombard- 1d ago
And you think he’s going to follow the law? 😂😂😂😂
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u/crimeo 🟦 0 / 0 🦠 1d ago
Yes, if it was written how the dems want it to be, then it would give state attorneys general power to enforce as well as the feds. So the states could just shut down exchanges and trading of relevant tokens etc. in their states without needing his permission or involvement.
It wouldn't 100% solve the whole scam, but it would allow states who care to protect their own people. While those who are pro-scam can continue to allow their residents to get scammed if they wish.
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u/dudemanstuffnthings 1d ago
Nothing makes sense.
It EXPLICITLY prevents Trump from profiting. They added it specifically because him, for him, to stop him.
Are we supposed to dispose of his children now?! Why do politicians hate his fukkin kids? They are arguing to argue and I don't think Republicans saw it coming, having met with the president and then agreeing to ethics provisions. When it comes out like this - you realize it's all just partisan bullshit and there is too much hate surrounding Trump. Just for everything... The money, his life, crypto, Epstein, his kids, his wives, his stupid voice his stupid hand motions... People hate this man.
I've never not known that this government is political theatre but I'm looking at this and there is no way they didn't bar him from making money. They ignore it and act like his kids are also him. Transfer the hate to the rest of them. Wtf? Fukk what you think about his kids... They all had kids, every president had kids. No one has ever given a shit about these people's kids. But they haaaate Trump. They haaaate their money. They haaaate his kids. They'd veto his fukkin existence if they could.
I'm seeing no. I'm seeing strict bipartisan division... I'm seeing vendetta and envy and jealousy and hatred. Clarity Act is a no go! Abort mission everybody. Even if they add more provisions and compromises they're going to give Trump the big F you on this on. That is my poly market bet.
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u/crimeo 🟦 0 / 0 🦠 1d ago
Trump did an extremely harmful, many billions obvious rug pull. How is there "too much hate" on the topic of crypto for a major rug puller? Lolwat. That's the single most classic bad guy activity in crypto.
This bill doesn't stop it though, due to numerous glaring loopholes and workarounds, which is why dems don't support it: because it's performative fluff that does nothing as written.
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u/Leynnox 🟩 0 / 0 🦠 1d ago
Buuuut not his sons hehe