Eleanor Terrett, Journalist and Host of Crypto In America, returns to the show to discuss the latest developments with the Clarity and Genius Acts and everything else you need to know about the state of cryptocurrency in America. Disclaimer: NOT FINANCIAL ADVICE - For entertainment purposes only. Tim Kotzman on X: https://x.com/TimKotzman Eleanor Terrett on X: https://x.com/EleanorTerrett 0:00 - Intro 0:44 - The Clarity Act 9:09 - What has surprised Eleanor the most about being in DC? 11:04 - BRCA 22:50 - American ingenuity in crypto 29:02 - The Genius Act 37:22 - De minimis transactions 40:25 - Stakeholders and influence 42:45 - Crypto &amp; AI 45:55 - What’s at stake with the midterm elections? 53:15 What Eleanor expects in policy development over the next year 57:13 - Where to find Eleanor online #podcast #bitcoin #microstrategy #investing #mstr #btc

We Have The Votes | Eleanor Terrett

The Bitcoin Treasuries Podcast with Tim Kotzman

# Full Transcript

**Podcast:** The Bitcoin Treasuries Podcast with Tim Kotzman

## Transcript

Welcome back to the Bitcoin Treasuries Podcast. I'm Tim Kotzman. I'm joined today by Eleanor Terrett in the studio. Hey, Tim. Eleanor, as the audience may or may not know, you are formerly at Fox. You're a journalist and host of Crypto in America. So you're keeping busy. We were talking beforehand, maybe spending about half your time in DC these days. That's right.

So looking forward to diving into what's happening really at the intersection of so many things, Bitcoin, capital markets, public companies, regulation, and the institutional adoption that we're seeing across digital assets. So maybe let's start with the Clarity Act. For those not familiar that aren't following what's going on in Washington, what is the Clarity Act and why does it matter?

So the Clarity Act and why does it matter? It's a great question. It's essentially the crypto industry's biggest piece of legislation ever. It's market structure. So it's going to basically dictate which regulators are going to oversee which portions of the cryptocurrency market.

So if you think about the traditional stock market, right, the Securities and Exchange Commission is a big regulator of the traditional equities market. So when it comes to crypto, there has never really been a true regulator that has legally been able to oversee it in statute.

If you think back to a couple years ago under the Biden administration, the SEC under Gary Gensler was pretty adamant at the fact that a lot of digital assets, with maybe the exception of Bitcoin, were securities and that the SEC should oversee all of these potential securities and bring them under its own remit.

But this administration under the Trump administration's second term, there is a full-on effort to really kind of divvy that up between the Securities and Exchange Commission and the Commodity Futures Trading Commission. So basically what has happened is they are splitting the remit between the two agencies. The Clarity Act decides which digital assets are securities, which are digital commodities, and then which kind of fall outside of those two things.

You think about meme coins, you think about NFTs. This bill kind of really sets the parameters for what digital assets are and really answers the question, you know, the industry has been looking for the answer to for many, many years. Because if you remember, regulation by enforcement was, you know, a big part of the industry's history for the last couple of years. Lots of lawsuits, lots of uncertainty. The Clarity Act really brings a lot of certainty to the future for the crypto industry in the United States.

Where does the legislation stand today? I mean, I'm seeing things on social media as we're walking into the studio here about we have the votes, something's happening on July 17th. Like what's the current state of play?

Yeah. So there have been a lot of dates thrown out there, a lot o...

We Have The Votes | Eleanor Terrett

Transcript

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We Have The Votes | Eleanor Terrett

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.