JUST IN: JACK DORSEY'S BLOCK URGES SENATE TO APPROVE THE CLARITY ACT 🟩️ "Strong safeguards against crime and enhancing responsible innovation are not competing goals." "Service providers who do not custody assets should not be considered money transmitters."

What happened

Jack Dorsey’s Block publicly urged the Senate to pass the Clarity Act, arguing that strong anti‑crime safeguards and responsible innovation can coexist and that non‑custodial service providers should not be classified as money transmitters.

Confirmed

Global impact / market context

If passed, the Clarity Act could create clearer rules for crypto businesses, potentially lowering legal risk and encouraging more investment while still aiming to prevent illegal activity.

Analyst inference

The push for the Clarity Act suggests lawmakers may soon consider new rules for crypto‑related services, which could affect how digital‑asset firms are regulated and how investors view the sector.

Analyst inference

What to watch

1. Whether the Senate moves forward with the Clarity Act, which would set new regulatory standards for crypto service providers and potentially reshape compliance frameworks across the industry. Analyst inference
2. How the classification of non‑custodial platforms as non‑money transmitters could change compliance costs for crypto firms by reducing regulatory burdens and possibly lowering operational expenses for these businesses. Analyst inference
3. Public and industry reaction to Block’s urging may pressure senators, potentially shaping the timing and content of any Clarity Act legislation in Congress. Analyst inference

Affected assets

• ACT — Act I The AI Prophecy
• THE — Thena

Evidence

• x.com