---
title: 'US Congress Sends a Powerful Message to Crypto'
source: 'https://youtube.com/watch?v=K6-PgYiDQwc'
video_id: 'K6-PgYiDQwc'
date: 2026-08-06
duration_sec: 580
---

# US Congress Sends a Powerful Message to Crypto

> Source: [US Congress Sends a Powerful Message to Crypto](https://youtube.com/watch?v=K6-PgYiDQwc)

## Summary

The video discusses the potential passage of the Clarity Act in the US Senate before the August recess, highlighting Senator Cynthia Lummis's expectation of a vote. It also covers institutional adoption of crypto, such as Citi hiring a crypto director and Western Union launching a Solana-based stablecard, and analyzes Bitcoin's bottoming process.

### Key Points

- **Clarity Act Vote Expected Before Recess** [00:18] — Senator Cynthia Lummis stated on Fox Business that she believes a vote on the Clarity Act will occur before the August recess, with senators possibly staying through the weekend to vote.
- **11 Months of Negotiations** [01:12] — After 11 months of negotiating with Democrats and adding over 300 pages to the bill at their request, Lummis emphasizes the need to get senators on record regarding crypto regulation.
- **Clarity Act Absent from Schedule** [01:25] — Senate Majority Leader John Thune filed cloture on other priorities, but the Clarity Act is still not on the schedule, with only two days left before recess.
- **Bitcoin's Resilience Without Clarity** [02:21] — Bitcoin and select altcoins will likely be fine regardless of the Clarity Act's passage, as Bitcoin has grinded higher for 16+ years without regulatory clarity.
- **Potential Lower Low if Clarity Fails** [02:48] — If the Clarity Act does not pass, Bitcoin could see a lower low, possibly into the $50s or $48, which could be the final rung of the bottoming process.
- **1933 Moment for Crypto** [04:14] — The Clarity Act could be a '1933-like moment' for crypto, similar to when the SEC was formed, providing regulatory clarity that makes big money comfortable entering the space.
- **Institutions Not Waiting** [04:43] — Citi is hiring a crypto director, and Western Union is launching a Solana-based stablecard usable at 175 million Visa merchants, showing institutions are moving forward regardless of US regulation.
- **Solana's Tokenized Equities Volume** [05:39] — Solana processed $1.45 billion in tokenized equities volume in July, representing approximately 82% of all tokenized stock trading across all chains.
- **Russia's Crypto Regulation** [05:51] — President Putin signed a comprehensive crypto market structure bill into law, providing regulation for digital assets and investor rights, while the US lags.
- **Bitcoin Derisked at Same Price** [06:39] — Buying Bitcoin at $64,000 today is completely derisked compared to 2 or 5 years ago, as fundamental adoption has 10xed or 20xed, yet price is stalling at the same level.
- **Three Signs of Bottoming** [07:07] — The bottoming process is indicated by: 1) top buyers becoming forced sellers, 2) Bitcoin acting as a magnet to the 200-week moving average, and 3) Bitcoin no longer selling off the most.
- **Timeline for Bottom** [08:53] — Last cycle, hitting the 200-week moving average took eight months to complete the bottoming process; if the same happens now, it could take until October.

### Conclusion

The video concludes that while the Clarity Act's passage is uncertain, Bitcoin is likely in a bottoming process, and institutional adoption continues regardless of US regulatory delays.

## Transcript

weekend. >> Something is happening right now in >> There are other bills in addition to the Clarity Act uh that we need to take votes on uh before we leave for the August recess and clarity is one of
those bills. You see, after months and months and months of downwards price months and months of downwards price action, and with just one two days left before the Senate recess, Senator Cynthia Lumis on Fox Business Today
states, "I believe we will get a vote on Clarity before the August recess. Congress people will not be leaving Friday. I think will go into the weekend, meaning they'll really have until Monday being the reason positions,
market. >> So, I do believe that we will get a vote record. >> If nothing else, not to pass the crypto
bill, but to get every senator on record. Are you for crypto regulation or are you against crypto regulation? After 11 months of negotiating with Democrats
11 months of negotiating with Democrats and adding 300 plus pages to the bill at their request, it's just time to get people on the record. >> And the update today is this. It's twofold. Number one, Senate Majority
twofold. Number one, Senate Majority Leader John Thun has filed cloer on two other Trump priorities advancing Todd Blanch as attorney general and an NIL bill for college athletes. But the Clarity Act is still absent so far,
meaning it's not even on the schedule yet. And as of today, Altcoin Daily updates you, keeps you updated every day. Wednesday came and went without the Cryptoclarity Act appearing on the Senate schedule. Time is nearly up
before their August recess. Only two days left, maybe two additional days if they stay for the weekend. But every single senator who continues blocking action, should be voted out of office. Because it's sad in a sense that it's
not get this on the Senate floor so we can pass this finally and have clear guidance in our industry. It's get this on the Senate floor so we can get people on the record. Now, what most investors won't share with you is that Bitcoin and
a few select altcoins will be fine regardless if Clarity Act passes or not. Of course, it would only help if the Clarity Act does pass. But in my appearance on the Milk Road podcast today, I lay out what's going to happen
to Bitcoin and altcoins if Clarity doesn't pass, which are the odds, or if Clarity does pass. Two-minute clip, let's watch, then react. I think if the Clarity Act does not pass, which let's just assume odds say it's not going to
pass, a betting man, easiest odds say it's not going to pass. I think that could be I think that could be a lower low for Bitcoin. That could be the final rung of the of the bottoming process. Uh push us maybe into the 50s. Uh maybe in
to 48. I think that's the e the two easiest uh support levels. And then from there, Bitcoin will be fine. Bitcoin has grinded higher for 16 plus years
regardless when there was no f uh regulatory clarity. Bitcoin will continue to get adopted. The network effect will continue. The uh use case and product market fit for Bitcoin is governments will continue to print money
irresponsibly. Uh Bitcoin is a fixed gold like digital gold-like asset that still fits. So Bitcoin will be fine. I also think based on the uh what we're seeing in the headlines, the adoption from these new buyers coming in, the
from these new buyers coming in, the institutions, Ethereum, Solana, large we're seeing Black Rockck, Morgan Stanley, all these institutions say, Ethereum is the biggest network. That's going to be okay. We believe in Solana.
fine, although they'll only benefit more from the Clarity Act if the Clarity Clarity Act would pass. though, John, I think the bottom is in regardless of, you know, anything can wick down in a day or in a week. Um, and I think it's a
it's a brand new renaissance. Sort of a 1934 1933 moment, just like when we had the SEC got formed in the 1930s to regulate the financial markets. I believe that the Clarity Act will be that 1933- like moment and uh finally
big money finally for the first time in crypto's history will feel comfortable entering the space cuz they now know the rules. Head on over to Milk Road and watch the full conversation and leave a like because to validate what I was just
saying, the big institutions are not waiting. City Bank is hiring a crypto director. This is full-time and this is to own the digital assets client solutions, product roadmap, incorporating market intelligence,
client feedback, crypto products for their clients, their massive client base. And again, the he the big institutions are not waiting. In fact, notice the protocols they're choosing to build on. Western Union launches Solana
build on. Western Union launches Solana based stable card usable at 175 million Visa merchants. So the remittance giant is rolling out stable card across 37 markets targeting crossborder payments and consumers seeking US dollar
denominated savings in volatile economies all on the Solana blockchain. And the numbers back it up just in Sana processed $1.45 billion in tokenized
equities volume in July. Approximately 82% of all tokenized stock trading across every chain happened on Solana. And what the US is lagging on, Russia
and President Putin just did. President Putin just officially signed the crypto market structure bill into law in Russia. Here's the text. Russian President Putin has signed a law providing comprehensive regulation for
digital assets and rights for investors. The legislation governs the organization, accounting, and custody of digital currencies in foreign digital instruments. This is Russia trying to pull ahead what the United States is
failing on, stalling on, Russia just did. This is why I believe buying Bitcoin today at around $64,000 versus buying Bitcoin back in 2024, 2 years ago, around $64,000 versus buying Bitcoin 5 years ago around 64 $65,000.
Bitcoin 5 years ago around 64 $65,000. Bitcoin today is completely derisked. All the fundamental adoption has totally 10xed, maybe 20xed since then. Yet price is stalling at the same level. And because we are grinding right now at the
200E moving average, even if we dip a little over, maybe we've already bottomed, nobody knows. The Bitcoin bottoming process is happening now for these three reasons. Short answer is nobody knows what Bitcoin will do
tomorrow, let alone 2 months from now or 12 months from now. Um, we'll know when after, 12 months after, we'll look back and say, "Oh, of course that was the bottom." I believe though and this is what I'm sharing with my audience um
that Bitcoin is in the bottoming process and the three things I look for number one when the net buyers of the top the top of last cycle become force sellers
that's around when bottoms are happening what I mean by that is the DATs the hype that made all the news they kept buying the top buying more Michael Sailor nobody would have ever thought he'd be a seller 12 months ago, 18
months ago, they now become four sellers near the bottom. That's how bottoms are formed. Number two, the technical analysis, which is Bitcoin always acts like a magnet to the 200E moving average. Some
say the 200E moving average is fair value for Bitcoin. Some for any asset. Some say it's undervalue for asset or when it asset with product market fit gets to that 200E moving average, which Bitcoin is around right now, has been
around for the last several weeks. uh that's around when bottoms are formed. You can look back at every single Bitcoin bare market, four out of four, every single time. So, that's number two. Number three thing I look for is
when Bitcoin no longer sells off the most, acts. Uh what I mean by that is we're seeing the NASDAQ sell off now and Bitcoin maintains is even up a little.
Before Bitcoin was the easiest liquidity, it sold off first. Now we're Bitcoin might have been that canary in the coal mine and Bitcoin is maintaining slashg grinding higher. So three things we're in the bottoming process. We hit
the 200WE moving average around February of this year. Last time last cycle we hit the 200WE moving average. It took eight months to wash out get you know finish up complete the bottoming process. If that same thing happens now
it takes us to October. I will be monitoring this on exchange partner WEX for the best charting, for the best indicators. Be sure to unlock up to $5,000 in Bitcoin positions if you haven't already. Just three easy steps
and it runs until August 13th. So, that's the catch. Earn BTC rewards and exclusive bonuses for the trading you're doing anyway. Link down below to follow along. Take advantage and click subscribe for a daily video keeping you
subscribe. It's completely free. And like always, see you