The CFTC just moved from promise to process: build a crypto market structure without CLARITY. Congress failed to give the CFTC the authority CLARITY would have created. The CFTC is now testing how far it can stretch the authority it already has. ⬇️ substack.com/@thefutureof...

crypto research regulation lab (@thefutureofmoney)

The CFTC just moved from promise to process: build a crypto market structure without CLARITY. The Senate rejected CLARITY on Tuesday. On Wednesday, CFTC Chairman Michael Selig said the agency was “l...

substack.com

Email from my grandfather, who likes to say he's lived for a third of the time that America has existed: "America was nice while it lasted, although it's really hard to believe a criminal narcissist TV show host that paints himself orange was all it took to take us down."

But Armstrong's relief has an expiration date. Rulemaking under a friendly SEC chair offers clarity without concessions -"existing authority"- until the chair changes. The industry needs to know whether the rules will still be there after the people writing them leave, not just what the rules are.

By a vote of 49-50, the Senate did not agree to the motion to invoke cloture on the motion to proceed to H.R.3633– Digital Asset Market Clarity Act. Senator Coons did not vote. Senators Collins, Hawley, Moran, and Tillis voted no. Senator Tillis voted no in order to make a motion to reconsider.

the future of money@thefutureofmoney.bsky.social · 4d ago

Cloture has failed. Clarity is 10 votes short. The bill does not advance to the Senate floor. 🔚

"Until statutory certainty is achieved, we look forward to partnering with the federal financial regulators as they utilize existing authorities." Translation: the SEC and CFTC write the rules now. Without Congress. ⬇️ thefutureofmoney.substack.com/i/215624494/...

Warren's floor speech made the actual position clear: No ethics provision short of a comprehensive ban on presidential crypto interests -not just issuance, not just sponsorship- was sufficient. The goalposts didn't move. They were always further away than Lummis thought.

the future of money@thefutureofmoney.bsky.social · 4d ago

Warren on the Senate floor making the case to kill the CLARITY Act. The cloture vote is in minutes. 👀

Cloture has failed. Clarity is 10 votes short. The bill does not advance to the Senate floor. 🔚

the future of money@thefutureofmoney.bsky.social · 4d ago

⏳Minutes before the CLARITY vote. Warren is saying no. Banking groups are saying the stablecoin safeguards still don't go far enough. Republicans are saying they've made 126 substantive changes and are asking Democrats to let the bill move to the floor. The number to watch is 60.

⏳Minutes before the CLARITY vote. Warren is saying no. Banking groups are saying the stablecoin safeguards still don't go far enough. Republicans are saying they've made 126 substantive changes and are asking Democrats to let the bill move to the floor. The number to watch is 60.

the future of money@thefutureofmoney.bsky.social · 4d ago

Warren on the Senate floor making the case to kill the CLARITY Act. The cloture vote is in minutes. 👀

The updated CLARITY text is trying to turn unresolved opposition into a floor negotiation. So today’s vote is not a final verdict on CLARITY. It is a vote on whether negotiation continues under the pressure of an actual Senate floor. ⬇️ thefutureofmoney.substack.com/p/clarity-ac...

The CLARITY Files - The vote is tomorrow. The text changed again.

The CLARITY Act faces a crucial Senate vote. What the latest version tells us about the fight over crypto regulation, and what tomorrow’s Senate vote actually means.

thefutureofmoney.substack.com

Warren on the Senate floor making the case to kill the CLARITY Act. The cloture vote is in minutes. 👀

What is a ‘meme coin'? Congress does not usually name-check internet culture in the Commodity Exchange Act. CLARITY does. ⬇️ 🔗 substack.com/@thefutureof...

crypto research regulation lab (@thefutureofmoney)

What is a ‘meme coin'? Congress does not usually name-check internet culture in the Commodity Exchange Act. CLARITY does. The Senate substitute would make “meme coin” an express statutory category f...

substack.com

The updated CLARITY text is trying to turn unresolved opposition into a floor negotiation. So today’s vote is not a final verdict on CLARITY. It is a vote on whether negotiation continues under the pressure of an actual Senate floor. ⬇️ thefutureofmoney.substack.com/p/clarity-ac...

The CLARITY Files - The vote is tomorrow. The text changed again.

The CLARITY Act faces a crucial Senate vote. What the latest version tells us about the fight over crypto regulation, and what tomorrow’s Senate vote actually means.

thefutureofmoney.substack.com

The CLARITY Files - The vote is tomorrow. The text changed again. What the latest text tells us about the negotiation: ethics, bank funding, developer liability, DeFi and control — and what the 60-vote threshold means. thefutureofmoney.substack.com/p/clarity-ac...

The CLARITY Files - The vote is tomorrow. The text changed again.

The CLARITY Act faces a crucial Senate vote. What the latest version tells us about the fight over crypto regulation, and what tomorrow’s Senate vote actually means.

thefutureofmoney.substack.com

Take a note: Republicans are presenting this not as the final negotiated bill, but as the price of admission to the floor: with 126 substantive Democratic-requested changes, new ethics provisions, Treasury authority over stablecoin-related deposit flight, and developer safe harbors.

the future of money@thefutureofmoney.bsky.social · 5d ago

A third version of the CLARITY Act text was released today; one day before the cloture vote. Here's what changed and why: substack.com/@thefutureof... 🧵1 /

A third version of the CLARITY Act text was released today; one day before the cloture vote. Here's what changed and why: substack.com/@thefutureof... 🧵1 /

crypto research regulation lab (@thefutureofmoney)

A third version of the CLARITY Act text released today — one day before the cloture vote. What changed and why: Ethics (Division C) — the deal-breaker that got (?) a deal: State AG enforcement ...

substack.com

Mexico’s fight for independence is the triumph of a people determined to shape their own future. Today, I was proud to be the first New York City Mayor to march in Sunset Park’s Mexican Independence Day Parade alongside a community that has fostered cultural pride across generations.

"We can't let CLARITY pass."

Crypto’s founding narrative was disintermediation — the ability to move capital without intermediaries. Its mature business model is: become the intermediary. 🔺 read the 8 questions i’m watching right now in my latest piece: 🔗 🚨 thefutureofmoney.substack.com/p/8-question...

It's part of the sales pitch. www.jacobsilverman.com/p/dont-make-...

Don’t Make Me Destroy the World

The tech industry’s warnings about artificial intelligence have become a new sales pitch.

jacobsilverman.com

The SEC Chairman proposed a crypto framework, and warned a future "rogue regulator" could unwind it. Sept 15: CLARITY cloture. Sept 15-16: FOMC, hike at 70%. Sept 16: Arc mainnet. Sept 21: ECB Pontes. Five institutions. Eleven days. New issue. ⬇️ thefutureofmoney.substack.com/p/8-question...

8 Questions I’m Watching Right Now

The SEC Chairman says his own crypto rules won't survive the next administration. Five institutions, eleven days. The architecture starts operating in September

thefutureofmoney.substack.com

One more updated Clarity Act text 👀

The ECB is facing the uncomfortable combination of higher inflation risk and weaker growth risk. And just raised rates again, while explicitly refusing to pre-commit to the next move. 25 bps, taking the deposit rate to 2.50%.

1/ The new monetary stack is becoming visible. Treasury moved. The SEC moved. The OCC moved. The Fed, the BIS, and the ECB each drew different blueprints at Jackson Hole. None of them are building the same thing. Blueprint #12 maps August. Read more ⬇️ thefutureofmoney.substack.com/p/monetary-b...

the monetary blueprint #12: who gets to program the money?

The new monetary stack is becoming visible. August showed who is reaching for each layer.

thefutureofmoney.substack.com

The US Senate votes on the CLARITY Act in 6 days. September 15. 60 votes needed. One question: which crypto tokens are securities and which are commodities? Check out my CLARITY files series, if you haven’t already! → thefutureofmoney.substack.com

the future of money | crypto research regulation lab | Substack

the latest regulatory and policy happenings in the evolving world of digital finance. decoding what others miss in crypto, AI policy & digital finance regulation. i follow the rules being written -an...

thefutureofmoney.substack.com

Blueprint #12 is live. The August crypto map. Three layers of programmable money. Six institutions building them. None of them building the same thing. → the monetary blueprint #12: who gets to program the money? thefutureofmoney.substack.com/p/monetary-b...

the monetary blueprint #12: who gets to program the money?

The new monetary stack is becoming visible. August showed who is reaching for each layer.

thefutureofmoney.substack.com

Under current law, crypto customers in a bankruptcy have no statutory priority. Under CLARITY, their assets are designated customer property. The catch: that only works if the exchange kept customer funds separate -unlike FTX. Better law. Still depends on compliance. 🔗 substack.com/@thefutureof...

crypto research regulation lab (@thefutureofmoney)

"just like traditional finance" is a simplification; the legal change is real. Under current law, crypto customers in a bankruptcy have no statutory priority. Under CLARITY, their assets are designate...

substack.com

the monetary blueprint #11: stablecoin earnings and the rules that aren’t ready thefutureofmoney.substack.com/p/monetary-b...

the monetary blueprint #11: stablecoin earnings and the rules that aren’t ready

Tether, Circle, Coinbase, and PayPal all reported Q2 2026 results. The GENIUS Act deadline passed. The CLARITY Act missed the August recess. The July map.

thefutureofmoney.substack.com

The “never hike”epistemology. Today’s note is not a rate commentary. Read it here: ⬇️ substack.com/@thefutureof...

crypto research regulation lab (@thefutureofmoney)

The “never hike” epistemology: Supply shocks are transitory. AI absorbs future inflation. No data point justifies tightening. Now pair this with: Treasury buybacks doubled to $4B/op...

substack.com

Dozens of data centre projects across the US worth roughly $150bn in investment have been stalled or cancelled due to local opposition. ft.trib.al/FfTRjVT