Voice Your Support For The CLARITY Act!
The CLARITY Act Protects U.S. Citizens' Right to Use Noncustodial Wallets Privately
For Bitcoin to fully succeed, we must be able to use it like cash.
This means that everyone should have the right to use a noncustodial wallet privately, much like the way we use physical cash without having our identity tied to it.
If the CLARITY Act (H.R. 3633) passes, this right will be enshrined into law in the United States (and potentially copied and pasted globally).
The act, which now incorporates important language from the Blockchain Regulatory Certainty Act (BRCA), which I wrote about in last week’s edition of the newsletter, will make it so that not only Bitcoin and crypto wallets aren’t classified by the U.S. federal government as money transmitters, but that developers and providers of noncustodial blockchain tech will not be subject to the same regulations as money service businesses are.
If you’d like to learn more, I wrote more about this in an article this week:
If you’re a U.S. citizen and this issue is important to you, please contact your elected officials to let them know that you’d like them to support the CLARITY Act.
Go to SaveOurWallets.org to learn more about how to contact your reps.
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Mayor Adams Will Let Down New Yorkers Re: Bitcoin — Again
Though New York City mayor, Eric Adams, proclaimed at Bitcoin 2025 that NYC was looking into issuing BitBonds (more on what those are in the video below), I’m here to tell you not to hold your breath in waiting for this to happen.
In the following piece, I explain how NYC’s Comptroller poured cold water on Adams’ BitBonds idea, which Adams didn’t seem to put any sort of real thought into.
Adams has been talking a good game about making New York the center of the crypto industry for years now, but has done nothing about it.
It’s okay, though, as us New Yorkers are used to being let down by our local politicians and bureaucrats alike, especially when it comes to Bitcoin and crypto, as New York remains one of the most restrictive jurisdictions in the world thanks to the BitLicense.
Coinbase’s State of Crypto Summit Comes to New York City
On Thursday, Coinbase hosted its State of Crypto Summit in NYC.
I attended, super pumped to get a photo with Anthony Scaramucci (“The Mooch”), a model Italian-American and a speaker at the event, but I sadly didn’t get the opportunity to get the shot. (Sad face.)
I did compose a comprehensive tweet thread on the event, though:
I highlighted some great points made by David Plouffe, Senior Advisor to Kamala Harris’ presidential campaign, and Chris LaCivita, co-manager for the Trump 2024 campaign, about how Trump capitalized on the Bitcoin and crypto vote to win the election while Harris ignored this voter bloc.
One of my favorite quotes from Plouffe from the event: “The Democratic party has a lot of work to do on its brand.”
Very happy to hear that at least someone in the party recognizes that.
However, I remain totally unconvinced that Democrats will revamp their brand by midterms. And I’m not holding my breath waiting for them to get on the right side of Bitcoin.
Markets
Bitcoin’s price remained resilient this week in the wake of missiles flying between Israel and Iran (I’m making light of this as a defense mechanism, because it’s so deeply sad and scary).
If we are in fact on the cusp of a major conflict that involves the United States, you can bet the money printers will get turned on, which means bitcoin will likely rip as a result. (Please don’t interpret that as financial advice, because it’s not, nor is anything I write in this newsletter.)
But I also feel like a terrible human being for talking about bitcoin’s price when we could be on the verge of such a deeply tragic situation, so that’s all I’m going to say about bitcoin’s price this week.
This week, before I sign off, I have a small favor to ask…
With so much uncertainty in the world today, everything can feel totally outside of our control.
However, certain things in our life are very much in our control.
So, I want to ask you to think of one area of your life that you have control over and do something to have a positive impact in that space this week.
If each of the readers of this newsletter do that, we can take some solace in the fact that we’re part of something that making the world better, while it seems like everything is just getting worse.
Thank you in advance for partaking in this exercise with me.
Also, I will zap the first 10 people who do something positive and share the story in the comments 3,333 sats. Be sure to share your LNURL or a Lightning invoice.
Much love to everyone.
Best,
Frank
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