🇺🇸 Breaking early this Tuesday morning, the crypto Clarity Act draft just released for Thursday markup! Some key points: 1. Any token that was the principal asset of a spot ETP as of Jan 1, 2026 is permanently treated as a non-security. Locks in BTC, ETH, and anything else approved by year-end. 2. Staking is fully carved out. Self-staking, self-custodial staking with a third-party operator, liquid staking, and custodial staking services are all treated as administrative/ministerial. Governance rights explicitly do not disqualify a token. 3. Section 401 lets national banks, state banks, and credit unions offer custody, staking, lending, payments, market making, and underwriting for digital assets - incidental to the business of banking. No prior approval required. 4. Section 404 closes the stablecoin yield loophole for exchanges. No interest or yield on payment stablecoin balances. Activity-based rewards (staking, governance, loyalty programs) remain permitted. Existing exchange rewards programs will need to restructure.