The Trump family crypto grift moved into high gear by clearing an important legislative hurdle this week. The CLARITY Act officially moved out of committee and now goes to the Agriculture Committee before being paired with the House version and going for a final vote. Despite valiant attempts by Elizabeth Warren to put some guardrails and ethics provisions in place, the GOP shot them all down. Hundreds of millions in lobbying from the crypto industry has been sunk into a bill that has the potential to damage the banking system and enrich the President’s family. This is an update to an ongoing story about the ultimate financial heist happening in real time and right under our noses.

Resources

CoinDesk: Clarity Act Markup Session

Bloomberg: Quiet Token Sales Boosted Trump Crypto Wealth by $660 Million

CNBC: Crypto industry scores win as Clarity Act regulation bill clears Senate hurdle

Public Citizen: Big Crypto, Big Spending: Crypto Corporations Spend an Unprecedented $119 Million Influencing Elections

American Bankers Association: ABA Community Bankers Council Letter Urging Senators to Close the Stablecoin Loophole

Circle Stablecoin Reserve

Tether Stablecoin Reserve

Senate Banking Committee Markup News: Chairman Scott, Senate Banking Committee Advance Clarity Act in Historic Bipartisan Vote

UNFTR Resources

Episode: Trump Is Looting the Treasury.

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