News Heat Trend
Project Overview
Passage provides an ecosystem for building and connecting virtual and physical experiences through creator-built games. On its face, Passage is a social network. Under the hood, it’s an open worldbuilding platform with invisible infrastructure for connecting digital / metaverse experiences. Built with Cosmos, Passage is blockchain-agnostic and offers a suite of tools to make virtual worlds more accessible: in-browser streaming, cross-world commerce for fungible tokens and NFTs, social functionality, and 3D communication infrastructure.
Coinbase and Other Crypto Institutions Send Joint Letter to U.S. Senate Urging Passage of the CLARITY Act
the crypto advocacy groups Blockchain Association and CCI, together with over 120 industry institutions including Coinbase, Ripple, Kraken, and Circle, have sent a joint letter to the U.S. Senate Banking Committee, urging an accelerated review process for the CLARITY Act. The industry parties stated that the United States needs to establish a unified regulatory framework for digital asset markets, clarify regulatory responsibilities, and strengthen investor protection. They emphasized that relying solely on enforcement-based regulation cannot create a long-term stable environment. The institutions warned that prolonged policy ambiguity will lead to an outflow of capital, talent, and technology, weakening America's strategic advantages. They also called for the development of tailored federal unified regulatory rules for stablecoins, tokenized assets, and decentralized technologies.
TD Cowen: The Crypto Bill “Clarity for Digital Tokens Act” Faces Five Major Obstacles, Passage Outlook Uncertain
According to The Block, Jaret Seiberg, Managing Director of the Washington Research Group at investment bank TD Cowen, stated that stablecoin yield issues are not the sole obstacle to the passage of the Clarity Act—and cited the following five additional hurdles: 1. A severe shortage of Commodity Futures Trading Commission (CFTC) commissioners: only Chairman Michael Selig remains in office, and the process to appoint new commissioners could take several months, while the bill must complete its review by the end of July; 2. Complex regulatory questions surrounding prediction markets—including concerns about insider trading and potential conflicts of interest involving the Trump family—which may prompt Democratic lawmakers to withdraw their support via related amendments; 3. Ongoing controversy surrounding World Liberty Financial, a cryptocurrency project affiliated with the Trump family, increasing political resistance from Democrats toward supporting the bill; 4. Reports indicating Iran is discussing requiring vessels transiting the Strait of Hormuz to pay tolls in cryptocurrency—a development that could trigger contentious anti-money laundering (AML) amendments, potentially serving as a “poison pill” for the bill; 5. Risk that the Credit Card Competition Act could be attached to the Clarity Act, jeopardizing the entire bill’s progress. Regarding stablecoin yield issues, Senator Thom Tillis indicated that the Senate Banking Committee will not vote on the bill until as early as May. TD Cowen maintains its assessment that the bill has approximately a one-in-three chance of passing this year, while Galaxy Digital estimates the probability at roughly 50%.
U.S. Senator Lummis Calls for Swift Passage of the CLARITY Act
U.S. Senator Cynthia Lummis posted on social media stating that the previous administration caused the digital asset industry to relocate overseas. She emphasized that now is the time to establish clear regulatory rules for the digital asset industry and welcome it back to the United States, calling for the passage of the Clarity Act.
Coinbase CEO Supports Accelerated U.S. Passage of the CLARITY Act
Coinbase CEO Brian Armstrong responded to U.S. Treasury Secretary Scott Bessent’s call for the passage of the “Clarity for Digital Assets Markets Act” (CLARITY Act), expressing agreement and gratitude for his advocacy. Armstrong emphasized that bipartisan collaboration between senators and staff over the past several months has significantly strengthened the bill. Earlier, the U.S. Treasury Secretary urged Congress to swiftly pass the CLARITY Act.
TD Cowen: The Crypto Bill “Clarity for Digital Tokens Act” Faces Five Major Obstacles, Passage Outlook Uncertain
According to The Block, Jaret Seiberg, Managing Director of the Washington Research Group at investment bank TD Cowen, stated that stablecoin yield issues are not the sole obstacle to the passage of the Clarity Act—and cited the following five additional hurdles: 1. A severe shortage of Commodity Futures Trading Commission (CFTC) commissioners: only Chairman Michael Selig remains in office, and the process to appoint new commissioners could take several months, while the bill must complete its review by the end of July; 2. Complex regulatory questions surrounding prediction markets—including concerns about insider trading and potential conflicts of interest involving the Trump family—which may prompt Democratic lawmakers to withdraw their support via related amendments; 3. Ongoing controversy surrounding World Liberty Financial, a cryptocurrency project affiliated with the Trump family, increasing political resistance from Democrats toward supporting the bill; 4. Reports indicating Iran is discussing requiring vessels transiting the Strait of Hormuz to pay tolls in cryptocurrency—a development that could trigger contentious anti-money laundering (AML) amendments, potentially serving as a “poison pill” for the bill; 5. Risk that the Credit Card Competition Act could be attached to the Clarity Act, jeopardizing the entire bill’s progress. Regarding stablecoin yield issues, Senator Thom Tillis indicated that the Senate Banking Committee will not vote on the bill until as early as May. TD Cowen maintains its assessment that the bill has approximately a one-in-three chance of passing this year, while Galaxy Digital estimates the probability at roughly 50%.
Hormuz Strait Now Seeing Cryptocurrency “Safe Passage Fee” Scam Messages
According to Reuters, Greek maritime risk management company MARISKS has warned that some shipping companies stranded west of the Strait of Hormuz have received fraudulent messages impersonating Iranian authorities, demanding payment of a “transit permit fee” in Bitcoin or Tether (USDT). These messages are scams and not issued by official Iranian authorities. MARISKS stated that the scam messages claim documents must first be submitted and assessed by the “Iranian Security Department” before the cryptocurrency fee is determined. Currently, approximately hundreds of vessels and around 20,000 seafarers are stranded in the Gulf. During Iran’s brief opening of the Strait on April 18, at least two vessels—including one oil tanker—were forced to turn back after Iranian vessels opened fire on them.
Coinbase CEO Supports Accelerated U.S. Passage of the CLARITY Act
Coinbase CEO Brian Armstrong responded to U.S. Treasury Secretary Scott Bessent’s call for the passage of the “Clarity for Digital Assets Markets Act” (CLARITY Act), expressing agreement and gratitude for his advocacy. Armstrong emphasized that bipartisan collaboration between senators and staff over the past several months has significantly strengthened the bill. Earlier, the U.S. Treasury Secretary urged Congress to swiftly pass the CLARITY Act.
Related news
Coinbase and Other Crypto Institutions Send Joint Letter to U.S. Senate Urging Passage of the CLARITY Act
the crypto advocacy groups Blockchain Association and CCI, together with over 120 industry institutions including Coinbase, Ripple, Kraken, and Circle, have sent a joint letter to the U.S. Senate Banking Committee, urging an accelerated review process for the CLARITY Act. The industry parties stated that the United States needs to establish a unified regulatory framework for digital asset markets, clarify regulatory responsibilities, and strengthen investor protection. They emphasized that relying solely on enforcement-based regulation cannot create a long-term stable environment. The institutions warned that prolonged policy ambiguity will lead to an outflow of capital, talent, and technology, weakening America's strategic advantages. They also called for the development of tailored federal unified regulatory rules for stablecoins, tokenized assets, and decentralized technologies.
TD Cowen: The Crypto Bill “Clarity for Digital Tokens Act” Faces Five Major Obstacles, Passage Outlook Uncertain
According to The Block, Jaret Seiberg, Managing Director of the Washington Research Group at investment bank TD Cowen, stated that stablecoin yield issues are not the sole obstacle to the passage of the Clarity Act—and cited the following five additional hurdles: 1. A severe shortage of Commodity Futures Trading Commission (CFTC) commissioners: only Chairman Michael Selig remains in office, and the process to appoint new commissioners could take several months, while the bill must complete its review by the end of July; 2. Complex regulatory questions surrounding prediction markets—including concerns about insider trading and potential conflicts of interest involving the Trump family—which may prompt Democratic lawmakers to withdraw their support via related amendments; 3. Ongoing controversy surrounding World Liberty Financial, a cryptocurrency project affiliated with the Trump family, increasing political resistance from Democrats toward supporting the bill; 4. Reports indicating Iran is discussing requiring vessels transiting the Strait of Hormuz to pay tolls in cryptocurrency—a development that could trigger contentious anti-money laundering (AML) amendments, potentially serving as a “poison pill” for the bill; 5. Risk that the Credit Card Competition Act could be attached to the Clarity Act, jeopardizing the entire bill’s progress. Regarding stablecoin yield issues, Senator Thom Tillis indicated that the Senate Banking Committee will not vote on the bill until as early as May. TD Cowen maintains its assessment that the bill has approximately a one-in-three chance of passing this year, while Galaxy Digital estimates the probability at roughly 50%.
Hormuz Strait Now Seeing Cryptocurrency “Safe Passage Fee” Scam Messages
According to Reuters, Greek maritime risk management company MARISKS has warned that some shipping companies stranded west of the Strait of Hormuz have received fraudulent messages impersonating Iranian authorities, demanding payment of a “transit permit fee” in Bitcoin or Tether (USDT). These messages are scams and not issued by official Iranian authorities. MARISKS stated that the scam messages claim documents must first be submitted and assessed by the “Iranian Security Department” before the cryptocurrency fee is determined. Currently, approximately hundreds of vessels and around 20,000 seafarers are stranded in the Gulf. During Iran’s brief opening of the Strait on April 18, at least two vessels—including one oil tanker—were forced to turn back after Iranian vessels opened fire on them.
Iran Sets Conditions for Passage through the Strait of Hormuz: Must Use Designated Routes, Military Vessels Prohibited
Odaily News: According to a report by Iran's Tasnim News Agency on the 17th, citing an informed source, Iran has set three conditions for vessels passing through the Strait of Hormuz:First, the passing vessels must be commercial ships; military vessels are prohibited, and the ships and their cargo must not be associated with hostile countries.Second, vessels must pass through the routes designated by Iran.Third, vessel passage must be coordinated with the Iranian Islamic Revolutionary Guard Corps Navy.The source also stated that if the United States continues to enforce a maritime blockade, Iran will consider it a violation of the ceasefire agreement and will close the Strait of Hormuz. (Xinhua News Agency)
Report: Iran Proposes Allowing Free Passage for Ships on Oman's Side of the Strait of Hormuz
According to a Reuters report, a source familiar with Tehran's stance stated that Iran might consider allowing ships to navigate freely on the Omani side of the Strait of Hormuz without facing the risk of attack, if an agreement can be reached to prevent renewed conflict. This concept has been incorporated into its negotiation proposals. Iran would continue to maintain control over its waters in the Strait of Hormuz, while Oman would independently decide matters concerning its own side. The source did not specify whether Iran would agree to clear any mines it might have laid in those waters, or whether all ships, including those linked to Israel, would be permitted free passage. The source added that this proposal depends on whether Washington is prepared to meet Tehran's demands, which is also a key condition for any breakthrough on the Strait of Hormuz issue.
U.S. Senator Lummis Calls for Swift Passage of the CLARITY Act
U.S. Senator Cynthia Lummis posted on social media stating that the previous administration caused the digital asset industry to relocate overseas. She emphasized that now is the time to establish clear regulatory rules for the digital asset industry and welcome it back to the United States, calling for the passage of the Clarity Act.