CLARITY Act on “Death Watch”: Can Crypto’s Biggest Bill Survive?

Summary

The episode focused on the AMC-Robinhood tokenization dispute, the CLARITY Act's uncertain path to a Senate vote, and the ethics bottleneck blocking a compromise. Guest Cody Carbone, CEO of the Digital Chamber, argued the White House must engage on the Tillis-Gallego ethics proposal to reach 60 votes, and outlined agency rulemaking and skinny-bill contingencies if CLARITY fails. The hosts also discussed the Digital Chamber's lawsuit against Illinois' crypto tax and the mainstreaming of prediction markets through celebrity partnerships.

• AMC and Robinhood clashed over an offshore token tracking AMC stock, raising tokenization and US securities-law questions.
• The CLARITY Act faces a scheduled Senate vote but remains blocked by ethics negotiations.
• Cody Carbone says the White House and President Trump must weigh in on the Tillis-Gallego ethics proposal to reach 60 votes.
• If CLARITY fails, Carbone expects faster SEC/CFTC rulemaking, a possible SEC innovation exemption, and skinny crypto bills attached to must-pass legislation.
• The Digital Chamber sued Illinois over its crypto tax, arguing it is discriminatory and could spread to other states.
• Rebecca Rettig and Renato Mariotti highlighted celebrity prediction-market deals as a sign the sector is mainstream and here to stay.
• The hosts also noted spot-market authority remains important even if CLARITY does not pass.