In this episode, Demian welcomes back Joe Consorti for a conversation on the Clarity Act and what it means for bitcoin. Joe explains the bill's three buckets, how it would separate commodities from securities and put bitcoin under the CFTC, and why he sees that as a win for investor protections rather than price. He covers why the bill has stalled in the Senate over ethics concerns, why he thinks that fight is now ideological, and why the stablecoin rails it would create make it bullish long term. Joe also covers Russia legalizing bitcoin for cross-border settlement, the jobs revisions that boxed in the Fed, and why he thinks bitcoin's low is likely in. The Bitcoin Layer and its guests do not provide investment advice.

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