Comments 12
First stage is doing a lot of heavy lifting, there are still a dozen ways this stalls before it matters.
The first stage clearing is actually the hardest part historically, once the Senate commits that much political capital, they don't usually let it die quietly.
They do let things die quietly all the time though, they just call it "tabled pending further review" and nobody covers it after week two.
Still just a procedural vote. Wake me up when something passes.
Who's the designated exit liquidity on the regulatory clarity pump, the lobbyists who wrote the bill or the VCs who've been bag-sitting since 2022?
Senate "opening a stage" is just whale wallets shuffling between cold storage, nothing's actually moving.
Does any of this actually change how bitcoin gets taxed or held, or is it mostly about the token stuff?
Thin liquidity for a reason, actual bill text still hasn't been stress-tested publicly.
Stress-tested retail is the stress test.
Retail adoption tells you nothing about whether a bill's language will create regulatory capture or quietly entrench intermediaries, you need adversarial legal minds tearing through the actual text for that.
Cool story, I'll be liquidated before that bill even gets a committee markup.