Tag: politics

Why banks and offshore hubs like Dubai are winners of the Senate killing the Clarity Act

One expert believes that the failure to pass the bill is a win for the banks that staunchly oppose stablecoin yields, while a global crypto lawyer believes overseas jurisdictions benefit.

U.S. banks and overseas crypto hubs such as the United Arab Emirates (UAE) stand to benefit after the Senate failed to advance the Clarity Act last week, according to lawyers and industry experts.

The Clarity Act’s 49-50 Senate cloture vote means the crypto industry will not get the federal market structure framework it had sought. Instead, the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) will continue to shape policy through existing rules, interpretations and exemptions.

The legislative battle over the bills was not only about crypto oversight, but it also exposed a struggle over whether stablecoin platforms could offer rewards that might compete with bank deposits, as well as ethical considerations for people in government.

“Banks won this round. But the reason they are fighting so hard is that banks increasingly see stablecoins as competition for deposits, not just as another crypto product,” said Anton Golub, head of exchange go-to-market at Forte, in a Telegram message.

The immediate outcome of the failure to pass the law is that crypto regulations in the United States will continue to be created outside Congress. The SEC moved quickly after the vote, issuing a temporary conditional exemption that allows eligible venues to trade tokenized U.S. stocks through permissioned liquidity pools on public blockchains.

Soon after, the CFTC sent crypto rules to the White House for review. The agency submitted a new proposal; the details were not disclosed. For now, which crypto assets it contemplates, what exchanges would need to do to qualify for licenses, what restrictions would apply and how far the agency believes its authority extends, remains unclear. All the meanwhile, the “Clarity Act is dead, at least for now,” Jesse Hamilton, CoinDesk’s deputy managing editor in charge of global policy and regulation, wrote in an analysis that explains what very few appear to know: what the Clarity Act actually is.

“While the U.S. continues debating the Clarity Act, in the UAE we actually have clarity,” Irina Heaver, a Dubai-based crypto lawyer and founder of NeosLegal, said via Telegram. More than 110 regulated virtual-asset businesses operate in the country, with about 20 more holding in-principle approvals, she added.

“Every additional year that major markets spend debating how crypto should be regulated gives jurisdictions that have already created functioning regulatory frameworks another year to attract businesses, founders, talent and capital,” she said. “Regulatory clarity is no longer just a legal issue. It is a competitive advantage for the country.”

Kyle Bligen, executive director at the Decentralization Research Center, said “Congress remains the best route to a comprehensive market structure framework.” He said the Senate’s vote “was disappointing, but it does not change the underlying problem: digital assets still need clear and durable rules.”

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Caretakers or Conquerers?

When President Trump’s Republican acolytes primaried long-time US Congressman Thomas Massie (R-KY) and defeated him in the most expensive Congressional primary race in history (about $30 million) in May, pundits offered their assumptions and agendas.

The Trumpites said he wasn’t nice playing their ball game (I’m being diplomatic) and therefore deserved to be sidelined. They couldn’t abide a rogue Republican, even if he did vote with the president 92 percent of the time. Opposing the war in Iran was over the top.

Massie matched the Trumpites dollar for dollar in the campaign because as heir to the Ron Paul movement, he has many friends beyond his rural Congressional district. They supported him in this toe-to-toe duel, grateful for a champion who dared to question mainstream narratives.

These narratives, as it turns out, are many and his district has supported him on maverick positions in the past. He opposed virtually everything Dr. Anthony Fauci said. He opposed lockdowns. He opposed mandatory mRNA jabs. He opposed the inflationary Covid relief bill. All of this was tolerated and applauded by the majority of his constituents.

But daring to question obliterating the Persians (Iran) without constitutionally-mandated Congressional approval was too much and his country boys and girls turned him out. Why was the anti-war position intolerable?

For the answer, I’ll go back 30 years when organic farming was in its infancy. As a nonchemical farmer, I was in the vanguard of this movement and privy to the early arguments pitting compost against chemicals. As a country boy farmer myself, I have many friends and relatives in the chemicals-will-save-us camp.

As the arguments between the compost-vs-chemical camps became more defined, I noticed a profound philosophical difference. As with most altercations, it takes awhile for the two sides to get to the nub of their disagreement. Over time, ancillary things give way to the core issue.

In the compost-vs-chemical debate, the core issue was nurturing versus conquering. The chemical folks argued that they needed to conquer the weeds, weather, and worms. My compost-loving group diametrically opposed the Conquistador approach and argued that the goal was nurturing, promoting plant diversity, appreciating weather limitations, and loving earthworms.

The difference in approach moved me to develop a five-minute theatrical gig titled “Organic Farmers are Sissies.” I riffed on this masculine, macho mentality to conquer with chemicals rather than coming alongside natural patterns as a masseuse. It generated a lot of laughs in the organic farming community while pinpointing the nub of the philosophical difference.

“Men want to feel pig iron under their thighs. They want to come into the house smelling like diesel and grease so their wives can swoon ‘what a man.’ It’s just not manly to come in and explain to your beloved ‘I’ve made the cows happy. That’s just not manly.” This was all part of my act.

What made it funny was the truth underlying it. What does that have to do with Massie’s rejection? I believe the American country-boy mystique is wrapped up in conquering things. Trump enjoys overwhelming support in rural America. Country folks like to fight. Hatfields and McCoys. 

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Zohran Mamdani Administration Signs Multimillion Dollar Contracts With Vendors for ‘Gender-Affirming’ Care for Minors

The administration of Zohran Mamdani in New York City has just signed contracts worth upwards of $9 million with vendors who will provide ‘gender-affirming care’ to minors, including puberty-blocking drugs.

This issue seriously hurt Democrats in 2024, and they clearly do not care. They simply refuse to let go of it, no matter what the public thinks.

Their activist base won’t allow them to move on.

The New York Post reports:

The Mamdani administration is entering into two contracts totaling $8.9 million to provide “gender-affirming” sex reassignment care to transgender patients under the age of 18.

The move backs a policy the federal Department of Justice has challenged as medically dangerous and illegal.

The city Department of Health identified two vendors — Callen-Lorde and Nonprofit Organization for Philanthropic Initiatives — to provide the services in contracts that run from 2027-29.

“This includes the prescription and administration of puberty-blockers and hormone replacement therapy to all minor patients for whom such services are medically necessary based on the prevailing standards of care,” the DOH said in a public notice.

“Services will be performed by qualified medical providers with current New York State licensure, and will be provided consistent with state laws governing parental consent.”

Critics blasted Mayor Zohran Mamdani’s team, claiming they are trying to circumvent the federal ban on gender care services for minors.

“They’re making an ideological decision instead of a medical decision,” said state Conservative Party Chairman Gerard Kassar.

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James Talarico’s Campaign Goes MIA. What’s Going On?

Texas State Rep. James Talarico (D-50th District) has disappeared from the campaign trail with 28 days left before he faces Republican Ken Paxton. His campaign calendar now lists no public appearances for the candidate himself, only canvassing and get-out-the-vote gatherings.

According to a report from our sister site Townhall, Talarico’s last public sighting in Texas came on Saturday, Sept. 26, more than a week ago. He then left for a fundraising trip to New York City, where the VIP dinner ran $27,000 a plate. The guest list included a filmmaker who called America a “s***hole” and a group that advocates child sex change surgeries.

The absences piled up from there. Talarico skipped his in-person Sept. 30 speech to the U.S. Hispanic Business Council in the Rio Grande Valley and joined virtually from a hotel instead. The explanation attendees got was, “His staff says he’s ill and was unable to travel.” During that remote appearance, Talarico said he had to seek treatment at an urgent care clinic in Dallas, and social media users have disputed that timeline.

Then came the recycled footage. On Friday, Oct. 2, the campaign posted video from a Feb. 22 rally, held before Talarico had even won the Democrat nomination, and tried to pass it off as current.

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Supreme Court Rejects Radical Far-Left PA Judge’s Appeal After He Was Suspended For Hyper-Partisan Pro-Biden Facebook Posts

The U.S. Supreme Court on Monday refused to hear former Philadelphia Judge Mark B. Cohen’s last-ditch bid to undo his suspension for turning a public Facebook page, one that identified him as a sitting judge and showed him in his robes, into a Democrat cheering section for Joe Biden, Josh Shapiro, and the party line.

The justices denied certiorari without comment. Cohen, a Democrat who spent more than four decades in the Pennsylvania House before winning a Court of Common Pleas seat in 2018, had asked the high court to rule that the First Amendment shielded dozens of partisan posts he made while on the bench. It did not.

As The Hill reported, Pennsylvania’s judicial discipline system suspended him in 2024 over posts praising Democrats, including Biden and Gov. Josh Shapiro, and pushing policies such as raising the minimum wage.

That suspension was not a close call, and it was not a surprise.

The Judicial Conduct Board charged Cohen over scores of posts on a page that advertised his status as a Family Division judge.

The record, laid out in the Pennsylvania Supreme Court’s January 21, 2026, opinion and in the board’s filings, shows a longtime Democratic operative who never really left the campaign.

He called Biden an excellent president. He boosted Shapiro. He backed Philadelphia District Attorney Larry Krasner.

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President Trump Calls for Mandatory Prison Sentences for Medicare, Medicaid, and Social Security Fraudsters – Says Crooked Politicians Who Cover It Up Must Face Real Consequences

President Donald Trump is calling on Congress to finally put real teeth behind the government’s war on fraud, mandatory prison sentences for criminals caught stealing from Medicare, Medicaid, and Social Security.

In a video released Saturday, Trump demanded legislation establishing mandatory minimum sentences for fraudsters who loot the federal programs millions of Americans depend on.

Under Trump’s proposal, probation would no longer be an option for covered fraud offenses.

“Today, I’m calling on Congress to pass legislation to address fraud in Medicare, Medicaid, and Social Security programs,” Trump said.

“First, Congress must impose mandatory minimum sentences on fraudsters who steal from critical benefit programs designed to take care of the sick, feed the hungry, care for our children, and protect our senior citizens’ retirements.”

“Under our proposal, probation is no longer an option for the fraudsters. If you steal from the American people, you will go to prison and for a long period of time. And the more you steal, the longer you’ll stay in that prison,” he said. “If you’re a convicted fraudster who gets caught stealing from the American people a second time, your sentence will be doubled.”

Then he went after the politicians.

“Second, Congress must make sure that crooked and corrupt politicians who willfully turn a blind eye to fraud finally face real consequences,” Trump said.

“Under our proposal, if a state or local politician knows about fraud and has the ability to stop it, but does nothing about it, they can be personally liable for the full loss of the American taxpayers’ money that they should have stopped and they should have saved.”

The White House published the president’s announcement Saturday under the title “Minimum Sentences on Fraudsters.”

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Jasmine Crockett In Hot Water Legally After Boneheaded Move

Rep. Jasmine Crockett’s campaign-funded merchandise website advertised more than political swag: It offered lobbying services while the Texas Democrat was still serving in Congress, according to Zeteo.

The listing disappeared after the outlet contacted her office. Crockett’s spokesperson said she had not instructed anyone to put it there.

The offerings raised questions about congressional ethics and potential legal violations, experts told Zeteo.

Visitors to the website for Crockett’s merchandise line, “The Clapback Collection,” could find a button near the bottom that read “Political Consultant- Book Now,” according to the report.

Clicking through brought up options ranging from campaign strategy and management to government relations and lobbying. The menu also included communications and public relations, digital and social media work, and political risk management.

Crockett’s office said the site’s purpose was to sell campaign merchandise.

“This website is and has always been focused on selling campaign merchandise,” a Crockett spokesperson told Zeteo. “The Congresswoman has only advertised it for merchandise and did not build it,” they continued. “She never directed anyone to add the button you are inquiring about.”

The solicitation appeared by May, roughly two months after Crockett lost her Senate bid in March, according to Zeteo.

The report also drew a jab from progressive commentator Ryan Grim.

“Not waiting until you leave congress to start lobbying is impressive,” Grim wrote on X.

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Crooked, Partisan Former Special Counsel Jack Smith Spotted Wearing ‘No Kings’ Shirt at Anti-Trump Festival as Foo Fighters Dedicate Song to Him

Former Special Counsel Jack Smith turned up at a left-wing political music festival Saturday wearing a “No Kings” shirt.

Smith attended the “Power to the People” festival in Columbia, Maryland, which featured performances from Bruce Springsteen, Foo Fighters and other anti-Trump activists.

Photos from the event showed Smith wearing a shirt emblazoned with “Bruce Springsteen & E Street Land of Hope and Dreams American Tour No Kings.”

Foo Fighters frontman David Grohl even gave the former prosecutor his own rock-star treatment from the stage.

“This one goes out to my new friend Jack,” Grohl said before the band launched into its hit song “My Hero.”

Smith was appointed special counsel by the Biden Justice Department in 2022 and subsequently brought two federal criminal cases against Trump around the January 6th protests with a view to derailing his presidential campaign.

Both cases were ultimately abandoned after Trump defeated Kamala Harris.

Smith’s festival appearance came just days after he perjured himself while testifying before the Senate Judiciary Committee about his investigations into Trump.

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Fire Fighters Union in Michigan Quietly Pulls Endorsement of Abdul-El Sayed Then Scrubs Website

A fire fighters union in Michigan has yanked their support for far left Democrat Abdul El-Sayed in the race for U.S. Senate.

They’re now chalking the original endorsement up as a clerical error. Either way, it’s not a good look for El-Sayed, who has come under increased scrutiny in recent months.

The people who run big unions often endorse Democrat candidates, but the rank and file members tend to vote Republican. We have seen this happen again and again.

The Midwesterner reports:

Michigan fire fighters union calls Abdul El-Sayed endorsement ‘clerical error’ — quietly erases from slate of supported candidates

The Michigan Professional Fire Fighters Union quietly removed U.S. Senate candidate Abdul El-Sayed from its slate of endorsed candidates.

MPFFU President Matt Sahr told The Midwesterner the union’s slate of endorsed candidates initially went out to members on Sept. 11 or 12 with an endorsement for El-Sayed’s campaign prominently displayed at the top alongside Jocelyn Benson for governor and endorsements for the Michigan Supreme Court.

Fifteen days later, on Monday, MPFFU leaders sent out a revised slate of endorsements that replaced El-Sayed with an endorsement for Lt. Gov. Garlin Gilchrist for Secretary of State.

“Our intention was to stay out of that race,” Sahr said, adding the initial slate of endorsements “got distributed out before it got approved” and dismissed it as a clerical error.”…

At least one MPFFU member disputes that.

“This was not a clerical error. What we are seeing now is MPFFU leadership trying to sweep this under the rug. If rank-and-file members had not voiced our concerns, I have no doubt this organization would still be supporting Abdul El-Sayed over Mike Rogers,” a MPFFU fire fighter from southern Michigan told The Midwesterner.

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