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Crypto & Web3CoinDesk ·

Rep. Thanedar Urges Senate to Pass Clarity Act for Digital Asset Innovation

U.S. Representative Shri Thanedar, a Democrat from Michigan, is calling on Congress to pass the Clarity Act to support the digital asset industry. Thanedar argues that the legislation is essential to ensure long-term economic innovation in the United States. The bill would require at least 60 Senate votes to advance, making bipartisan support a critical factor. Thanedar contends that the digital asset sector is in need of regulatory relief that only this legislation can provide.

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Crypto & Web3CoinDesk ·

Banks Stand to Gain Most From Crypto Clarity Act, Argues CMCC CEO

Alex Tapscott, CEO of CMCC Global Capital Markets, argues that banks should embrace rather than resist the Clarity Act. He contends that financial institutions could emerge as the biggest beneficiaries of clearer cryptocurrency regulation. The Clarity Act aims to establish a defined regulatory framework for digital assets in the United States. Tapscott suggests that regulatory certainty would allow banks to confidently enter and expand within the crypto space. Rather than viewing the legislation as a threat, he urges banks to recognize it as an opportunity for growth.

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Crypto & Web3CoinDesk ·

Velocity raises $48M Series A at $200M valuation backed by Visa, Circle, Ripple

London-based payments infrastructure company Velocity has extended its Series A funding round to a total of $48 million. The round values the firm at $200 million, according to CEO Eric Queathem. Notable backers in the round include major financial and crypto players Visa, Circle, and Ripple. The investment is expected to support Velocity's growth in the payments infrastructure space.

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Crypto & Web3CoinDesk ·

Bitcoin drops 1.7% as Polymarket odds on Clarity Act passage sharply decline

Bitcoin slipped 1.7% to $76,862 as of midnight UTC on Tuesday, reversing gains made during a late Monday rally. The decline coincided with a sharp drop in prediction market odds on Polymarket regarding the passage of the Clarity Act. Overnight, the probability of the crypto legislation becoming law this year roughly halved on the platform. The Clarity Act's uncertain legislative prospects appear to have dampened investor sentiment, triggering the pullback in Bitcoin's price.

Ether, solana, XRP likely to gain if Clarity Act progresses · ShortSingh