30th May 2025 > > The SEC & CLARITY Act of 2025.

tl;dr

The SEC retreats further from its previous role as guardian of the reign of terror against cryptos in the US. The CLARITY Act of 2025 aims to bring, well, clarity to crypto regulation in the US.

Market Snap

Market Wrap

The court judgement yesterday that Trump’s Tariff Wars are illegal, has already been successfully appealed against hitting all risk assets. An appeal against that appeal will now be pursued.

Curious Cryptos’ meme corner – Be an investor, not a speculator

h/t The Milk Road

https://themilkroad.beehiiv.com/subscribe/57f0955a-42d9-435b-8a8f-e75d9bfa17f9/referrals

Curious Cryptos’ Commentary – And another one goes

The SEC and Binance have lodged a joint motion to drop the legal action taken by the SEC against Binance.

Originally filed in June 2023, the SEC’s case accused Binance of violating securities law, mishandling customer funds, and misleading customers. Binance, under its previous leadership of man-child Changpeng Zhao, always had a lax approach to compliance issues. Zhao even went so far as to claim that because Binance had no established head office, it could not be subject to regulation anywhere in the world. His fully deserved jail sentence – though rather short at just four months – after being convicted of money-laundering in a US court surely helped set the record straight in his mind on that point.

With a personal fine for Zhao of $50mm and a corporate fine for Binance of $3.4bn that really should have been the end of the matter.  The SEC’s previous stance of regulation by enforcement, allied with Gensler’s “arbitrary and capricious” decision-making, ensured that plenty of taxpayers’ dollars were wasted on trying to further punish Binance.

The retreat from persecuting the crypto industry by Senator Elizabeth’s anti-freedom and anti-liberty army is now almost complete. The world is a much better place for it.

Curious Cryptos’ Commentary – CLARITY Act of 2025

Though the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins) is currently being stalled on the floor of the Senate, in the face of legitimate concerns that Trump and/or his family are selling political access (hardly an original idea, few politicians of note have eschewed the opportunity for free tickets to gigs, free clothes, or other free stuff in general), progress is being made with the “Digital Asset Market Clarity Act of 2025”.

A press release dated May 29th, 2025 states that “House Committee on Financial Services Chairman French Hill (R-AR) today introduced the Digital Asset Market Clarity (CLARITY) Act, which would establish a regulatory framework for digital assets in the United States”:

https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=409749

The CLARITY act aims to address one of the central issues that has plagued the (non) regulation of the crypto industry in the US, namely clarifying the role of the SEC and the CFTC on the subject of crypto oversight. It also introduces TradFi developed safeguards for investors in the form of disclosures, segregation of funds, and a registration system, a real one this time, not a fake one as implemented under the previous administration.

Much of this new bill is a repetition of FIT21 (Financial Innovation and Technology for the 21st Century Act) which was torpedoed a year ago now, in May 2024:

https://www.curiouscryptos.com/post/11th-may-2024-form-13f-the-us

As with GENIUS, bi-partisan support is required to get to 60 votes on the floor of the Senate to prevent filibustering. I am delighted to report CLARITY is co-sponsored by three Democrat Senators. As and when both these two bills get passed by both houses, and receive Presidential sign-off, a torrent of crypto innovation and business development will be unleashed in the US, to the benefit of all our crypto bags.