Early session rally ahead of the Clarity Act vote, will it reflect public expectations? | Seo Dong-ju, Kim Dong-hwan, Ham Ji-hyun Block Media reporters

Summary

Seo Dong-ju and Kim Dong-hwan host Ham Ji-hyun of Block Media to discuss the upcoming US Senate Clarity Act vote and its crypto-market implications. They cover the Strategic Bitcoin Reserve bill, stablecoin circuit-breaker provisions, weakened developer protections, and Korean crypto-tax petitions. Bitcoin rallied toward $79.5k before pulling back, with speakers flagging both regulatory catalysts and sell-the-news risk.

• The Clarity Act final amendment adds a stablecoin circuit breaker, reduces BRCA criminal protections, and strengthens ethics provisions.
• The Strategic Bitcoin Reserve bill in the House is much smaller than the original, using seized assets rather than new purchases.
• Bitcoin briefly rose above $79.5k on reserve-bill scheduling and Clarity Act developments, then slipped to the low $78k area.
• Senate cloture remains uncertain because Democrats object to the ethics and developer-protection changes.
• Speakers frame Bitcoin as event-driven: passage could lift prices, but failure or a temporary catalyst may trigger a sell-the-news drop after a 25% rally since August 19.
• Small DeFi projects may lose expected Clarity Act benefits due to weakened criminal liability protections.
• Korean crypto-tax abolition and deferral petitions reached committee thresholds, but deferral is more likely and timing remains unclear.