To All The Panicans Domestic & Abroad:
Because today, the CFTC just did what Congress couldn't and what most of you didn't see coming because you were too busy refreshing C-SPAN hoping Elizabeth Warren would suddenly grow a conscience.
She didn't. She won't. That's not how this works.
But here's what does work: the CFTC just established clear crypto market structure rules. And that sentence that dry, regulatory, boring-on-the-surface sentence is the substitute for the Clarity Act that everyone said was dead.
Congress failed to pass the Clarity Act. You watched it happen. The Panicans and you know exactly who I'm talking about, the "we lost" crowd, the "Trump's plan failed" crowd, the "guess I'll sell my dinar for 10 cents on the dollar on eBay" crowd they screamed into the void like someone just canceled their favorite reality show.
Meanwhile, Donald Trump who has been playing 4D chess while everyone else was playing checkers on a board they didn't even know was rigged already had Plan B baked into the oven. He knew Congress wouldn't pass it. He knew the Deep State's remaining legislative assets would stall it.
And he knew that the CFTC an independent agency that doesn't need a floor vote, doesn't need Nancy Pelosi's permission, and doesn't need to wait for Mitch McConnell to figure out which century he's in could do the exact same thing through rulemaking authority.
The Clarity Act was the public play. The CFTC rulemaking was the shadow play. And the shadow play just went live.
Stop waiting for Congress to save you. Congress is a procedural graveyard. The CFTC just built a highway through it.
JUST IN: 🇺🇸 CFTC announces the agency is establishing "clear" crypto market structure rules.
"It's GO TIME"