Thread by @ycombinator

We're excited about the US CLARITY Act.

We think all YC companies will use crypto technology, like stablecoins, before long. Not just crypto startups, not just fintech startups, but every company.

Here's why this law is such a big deal 🧵

https://x.com/SenLummis/status/2063768467145105813

Blockchains allow instantaneous asset movement for pennies, global access, 24/7 trading, and open APIs. It’s the internet for every asset.

Adding an API to every asset is especially a big deal. Suddenly, anyone can build on top.

But to really work, we need major parts of our traditional financial ecosystem to integrate. Entities like banks, brokers, exchanges, custodians.

CLARITY provides exactly that, enabling many different financial players to feel comfortable integrating.

The Act defines which digital assets are securities vs. commodities, creates a registration path with the CFTC, and ensures customer assets become customer property in bankruptcy.

Paired with the GENIUS Act (which made stablecoins legal and fully reserved), CLARITY completes the framework. Crypto + clear market structure = startups can finally build on infra like stablecoins with confidence.

The result: payroll companies paying global contractors instantly. Marketplaces settling with sellers in seconds. SaaS companies billing in 150 countries without a banking integration in each one. Assets trading 24/7.

The US wrote the rules for the internet and won that era. CLARITY is the chance to do the same for money. The Senate should pass it. 🇺🇸