The Clarity Act failed its cloture vote 49 to 50, and Polymarket now gives it 8% this year. Brandon argues two-thirds of the crypto market already has its clarity; Kate warns agency rules can be undone by the next administration. Plus tokenized stocks get an SEC exemption and Revolut gets breached.

In this episode of Good For Bitcoin, Brandon and Kate discuss:

• The Clarity Act failed to advance: it needed 60 votes and got 49 yes, 50 no. Polymarket's odds for this year fell from 75% in May to 8%. Brandon's take: Bitcoin is already a commodity to the SEC, CFTC, and IRS, and with GENIUS Act stablecoins that's roughly two-thirds of the crypto market with the clarity it needs. Kate's worry: rules made by agencies instead of Congress can be reversed by the next administration.
• The Digital Asset Tax Certainty Act did advance: a de minimis exemption for small transactions, wash sale rules that close the sell-at-a-loss-and-rebuy loophole, and clearer tax treatment for mining and staking.
• The House Financial Services Committee voted 28 to 21 to advance H.R. 8957, codifying the Strategic Bitcoin Reserve with a 20-year no-sale lockup and quarterly proof-of-reserve audits. It commits the U.S. to holding, not buying.
• The SEC's innovation exemption greenlights tokenized stocks: on-chain trading with no registration for five years, for real shares with dividends and voting rights, not synthetics. Issuers get 30 days to object.
• Circle launched Arc, its own chain with USDC as native gas, sub-second finality, and EVM compatibility.
• Revolut disclosed a KYC breach after attackers spent six months inside Italian law enforcement systems, using them to request data from Revolut.
• Quick headlines: Defense Secretary Pete Hegseth says classified Bitcoin efforts are underway inside the Pentagon, and Franklin Templeton says it's no longer TradFi or DeFi, just Fi.
• Treasury tracker: Strive +469 BTC (25,000), Capital B +4 (3,525), ProCap -51 (5,254) and renaming to Silvia. Strategy repurchased $139M of STRC. Satsuma sold all 669 BTC to return $41.4M to shareholders, and Adam Back's Bitcoin Standard Treasury Co. terminated its SPAC with a $15M fee.
• We're off next week and back in two weeks.
• Follow the show on X: @goodforbtc.

Hosts:

• Brandon Marshall — @marshallmixing
• Kate Parkman — @katemparkman

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