CLARITY hopes fade, BitMEX shuts as lawsuit looms: Hodler’s Digest, July 26

Despite support from Goldman Sachs, Fidelity and law enforcement bodies, the Clarity Act’s chances dim. BitMEX to close as crypto consolidates into five big players.

Despite wealthy memecoin entrepreneur President Donald Trump agreeing to an ethics deal, the Clarity Act (CLARITY) is floundering as the August recess deadline looms.

Senate Majority Leader John Thune said he doesn’t believe the act has the votes to pass just yet, but may bring it to a vote anyway to “get Clarity started. We’ll see where the votes are.”

The ethics deal would prohibit all US officials from issuing or sponsoring digital assets, but contains some “get out of jail free” provisions for the President that the Democrats are unhappy with, including the fact the rules expire the day he is scheduled to leave office in 2029.

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