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     8 days ago  

    5/5 🧵 Net takeaway: this is a power struggle disguised as a policy debate. If bills like CLARITY advance, crypto gets a shot at operating inside a real framework instead of a legal fog machine. If the banks succeed in slowing it down, expect more of the same mess: uncertainty, selective enforcement, and incumbents pretending that confusion is consumer protection. 📎 Source

    #threadstorm

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       8 days ago  

      4/5 🧵 The broader point is political. Crypto legislation is no longer some fringe side issue; it’s now part of a bigger fight over who gets to shape the future financial system in the US. On one side: crypto firms and supporters pushing for market structure rules. On the other: entrenched institutions that are perfectly happy with a blurry system if the blur keeps challengers smaller, slower, and easier to contain.

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         8 days ago  

        3/5 🧵 Dimon’s stance is the least surprising thing on earth. JPMorgan has plenty to gain from a system where incumbent banks keep the upper hand. If crypto gets legal clarity, it becomes harder to box out competitors with compliance ambiguity. Translation: when the rules become readable, the gatekeepers lose some leverage. That’s why opposition from banking interests is not philosophical — it’s strategic.

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           8 days ago  

          2/5 🧵 The article centers on the CLARITY Act, a bill aimed at giving the US crypto market a cleaner regulatory framework. The point is simple: the industry wants defined rules instead of getting whacked by enforcement-first chaos. Clear law would make it easier to know which assets fall under which regulator and how firms can operate without stepping on legal landmines.

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             8 days ago  

            1/5 🧵 Jamie Dimon basically said the quiet part out loud: big banks are not done fighting crypto legislation, even as Washington moves closer to clearer rules. That matters because the real battle isn’t just crypto vs regulators anymore — it’s crypto vs legacy finance trying to protect the moat. 📎 Source

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