Chris Giancarlo explains why innovation in crypto won’t be stopped if Clarity Act doesn’t pass. He argues Ethics is an important issues but there can always be another excuse to stop the bill from passing. We also cover the ongoing legal battle between the prediction markets and state regulators. Chris makes the distinction between how prediction markets like Kalshi and Polymarket are a marketplace rather than a sportsbook or a casino. Despite the bear market struggles and delays in legal frameworks, Chris is optimistic about the outlook of the industry.<br>Learn more about your ad choices. Visit megaphone.fm/adchoices

What Happens If The CLARITY Act Fails? | Chris Giancarlo

The Wolf Of All Streets

The crypto industry believes it needs the CLARITY Act to move forward. But what if it doesn't? Today I'm talking with ex-CFTC Chairman Chris Giancarlo about crypto regulation. This is a change that is going to happen whether the CLARITY bill passes or not. It may change where it gets built and what gets built. Financial privacy. The Bank Secrecy Act has a lot less to do with secrecy than it has to do with government surveillance. It's about surveillance of our financial transactions.

Prediction markets. People like predictability and they don't want a poll of 800 people. By the way, that's the size of the average poll. They want information derived from tens of thousands of informed participants with skin in the game that are penalized if they're wrong. And why innovation may continue regardless of what happens in Washington. Innovation is going to come anyway. It's a question of whether we control it, we let others control it. We also discussed the unintended consequences of new crypto laws

and the battle over who controls the future of digital finance. Does crypto really need permission from the government to succeed? Watch and find out. What if you can short Bitcoin without touching a perp? Today's video is sponsored by CalShe.

On CalShe, you trade which way Bitcoin's headed, up or down, and short it as easily as you go long. As of June 16th, Bitcoin's around $66,000. And CalShe traders give it a 50% chance of dropping below $50,000 a year. And you can watch those odds move in real time. It's not just price. You can trade whether a crypto bill clears Congress or how a regulatory decision plays out. Pick a side,

What Happens If The CLARITY Act Fails? | Chris Giancarlo

Read the full transcript

The candid version is on a podcast,
not the earnings call.

What Happens If The CLARITY Act Fails? | Chris Giancarlo

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.