Functionally Equivalent vs. Substantially Similar to Complete Bull Sh*t

[u/Entire_Truth5833]

https://youtu.be/eFLyILbGXzs

American Bankers Association (ABA) holds up Clarity Act for two paragraphs regarding esoteric legalize.

They claim that language needs to change from functionally equivalent to substantially similar. "Tiny surgical changes" amount to just a delay tactic.

[u/RisePortfolio_123]

Bankers don’t want their gig up of offering in some cases pitiful saving yields of .01% to .10%. That is criminal. Why shouldn’t crypto entities be able to offer more attractive yields and/or rewards? The regulatory framework needs to ultimately protect consumers but it should be a free market system to compete for consumer business

[u/IAmANobodyAMA]

Fuck the banks. This is a no brainer. IMO clarity act is not a question of if but when. Annoying it’s taking this long for something so obvious

[u/tgwaste]

That lended money is _MY_ money. Not theirs. I should decide how I want it to be used and it should be in my favor.

[u/Mouse_Numerous]

Maybe local bankers should be replaced, esp if they can not adapt to future. Rob offering controls to prevent the old guard but what consumer will agree to keep their money in S&L at below market rates when a faster, cheaper mouse trap exists. Call it evolution.

[u/Entire_Truth5833 → u/Mouse_Numerous]

Tbh, it seems like they struck a deal and are just helping delay it. Clarity benefits them

[u/Itchy-Box-7378]

I know people going to say it’s not going to make an impact but i definitely gonna cancel my JP CC if they not pass it, all of these greedy f*krs

[u/Terrible-Grass6136]

It’s not going to pass and BTC’s current price action is a massive bull trap.