BIG CLARITY ACT NEWS! DEMOCRATS ETHICS COUNTEROFFER & MORGAN STANLEY ETHEREUM & SOLANA ETFS!
July 29, 2026
AI Summary
5 min readClarity Act Negotiations Intensify as Democrats Offer Counterproposal on State Enforcement
The Clarity Act remains the central legislative drama in Washington, with Democrats led by Senator Gallego now working with GOP Senator Tom Tillis of North Carolina on a counter offer to the current bill draft. The key demand: creating a role for state attorneys general to enforce the ethics language, not just the Department of Justice. Lawmakers are finalizing language they plan to send to the White House in the next couple of days, though the vote won't happen this week — the week of August 3rd remains the target.
The host expressed skepticism about the Democrat proposal, warning that giving all 50 state attorneys general enforcement authority could create massive confusion unless a compromise is reached — perhaps requiring states to notify the DOJ and get a green light before taking action. Still, he noted it's positive that Democrats are engaging rather than walking away entirely. "This is the sausage-making process," he said. "This is how it works in DC."
Wall Street Pressure and Banking Opposition
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What you'll learn
- 1 (01:09) **Clarity Act Update: Democrats' Ethics Counteroffer** - Senator Gallego (D) and Senator Tillis (R) are working on a compromise that would give state attorneys general a role in enforcing the ethics language of the Clarity Act.
- 2 (03:05) **Consumer Technology Association Endorses Clarity Act** - The CTA has formally urged the Senate to pass the bill, arguing that delays push investment, startups, and jobs overseas.
- 3 (04:50) **Banks Continue Fighting the Clarity Act** - U.S. credit unions and community banks, led by the American Banking Association and JPMorgan, have sent a letter arguing the bill could pull deposits away from local institutions.
- 4 (06:29) **SEC Chair Paul Atkins Comments on Clarity Act** - Atkins told CNBC he is committed to supporting Congress in advancing the bill and providing technical assistance, but if it fails, the SEC is ready to implement its own rules.
- 5 (08:25) **Russia Pushes Its Own Crypto Legislation** - Russia's central bank has published its first rules to regulate Bitcoin and crypto, part of a global trend where countries like the EU and UK are also advancing their own frameworks.
- 6 (08:54) **Morgan Stanley Launches Ethereum and Solana ETPs** - After a late entry with Bitcoin ETFs, Morgan Stanley Investment Management has launched the Morgan Stanley Ethereum Trust and Solana Trust, both with a 0.14% expense ratio.
- 7 (14:21) **Visa Outlines Stablecoin Strategy on Q3 Earnings Call** - Visa announced it is investing across the entire stablecoin stack, including blockchain, issuance, wallets, and applications.
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Guests on this episode
Show Notes
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⏰ Time Stamps ⏰
00:00 Intro
00:23 Clarity Act Ethics Democrats
02:14 Consumer Tech Supports Clarity Act
04:01 Credit Unions fight Clarity Act
05:43 SEC Crypto Clarity Act
07:31 Russian Crypto legislation
08:05 Morgan Stanley ETH & Solana ETFs
12:05 Visa Stablecoin
13:54 Quantum Crypto Wallets
16:11 Crypto Hacks rise in 2026
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