Entertainment
What is Clarity Act? Landmark crypto bill headed for senate markup
The Senate Banking Committee is set to start marking up the Digital Asset Market Clarity Act on Thursday, May 14.
This marks a pivotal moment for legislation that can establish the first comprehensive U.S. regulatory framework for cryptocurrencies.
The act distinguishes whether digital assets are securities or commodities, explaining whether the SEC or CFTC has jurisdiction, and establishes compliance rules for exchanges, brokers, and stablecoins.
According to this Act, the major aspects are:
- As per the bill, digital assets are categorised into three categories, including digital commodities, investment contract assets, and permitted payment stablecoins.
- Crypto exchanges, brokers, and dealers need to stay compliant with anti-money laundering and sanctions compliance, including the Bank Secrecy Act regulations.
- Bitcoin ATMs need to be registered with customer warnings, identification, and withdrawal limits.
- It protects software developers who publish code but do not control customer funds.
- The act bridges the gap left by previous regulations by setting regulations for stablecoin issuers and their ability to pay rewards.
Last year, the house passed the bill after facing delays due to criticism faced by banks and crypto companies.
More than 130 amendments have already been submitted in advance of the markup session on Thursday, including 44 amendments by Sen. Elizabeth Warren (D-Mass.), who claims the bill poses a threat to national security and fails to provide sufficient anti-money laundering protections.
It will take at least seven Democrats’ votes for the bill to pass the Senate. A party-line vote by the committee would mean very little chance of success, while bipartisan support would increase the bill’s chances.
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Iran says UAE ‘active partner’ in US-Israeli war
- Iran claims UAE directly participates in attacks against Tehran.
- Araghchi questions alleged Netanyahu meeting with UAE leadership.
- UAE denies allowing territory used for attacks targeting Iran.
Iranian Foreign Minister Abbas Araghchi on Thursday accused the United Arab Emirates (UAE) of playing an active role in the US-Israeli war against his country.
“The UAE is an active partner in this aggression, and there is no doubt about it,” Araghchi said in a Telegram post while attending a Brics summit in India.
Araghchi also referred to what Israel has described as a “secret” meeting in the UAE during the war between Prime Minister Benjamin Netanyahu and UAE President Mohammed bin Zayed Al Nahyan — a visit Abu Dhabi has denied took place.
“I must say that the UAE was directly involved in the act of aggression against my country. When this aggression began, they even refused to condemn it,” Araghchi said.
“It also became clear that they participated in these attacks and may have even acted directly against us,” he added.
Relations between Iran and the UAE have been strained since February 28 when US-Israeli attacks triggered Iranian retaliatory strikes against Israel and US allies in the Gulf, including the UAE.
A fragile ceasefire has been in place since April 8.
Iran has repeatedly accused Gulf states of allowing US forces to carry out attacks from their territory.
Gulf nations have repeatedly denied the accusations, saying even before the conflict that they would not allow their territory or airspace to be used to attack Iran.
Iranian state television has featured analysts alleging UAE involvement in the attacks on Iran.
The UAE earlier this month blamed Iran for a drone strike at an energy installation in its eastern emirate of Fujairah, a claim Iran denied.
Entertainment
Beatles legend Paul McCartney says ‘untalented people are now incredibly famous’
Beatles legend Paul McCartney has made a bombshell statement about influencer culture, insisting that ‘people who do not seem to be talented are incredibly famous.’
The 83-year-old music legend has been part of showbiz industry for six decades and is well familiar with the attitudes and approaches of different generations entering and leaving the music world.
Now, in a new interview, Paul has spoken about how he feels the celebrity world has changed, particularly with the rise of social media.
Speaking on The Rest Is Entertainment podcast, the star was asked a listener question by hosts Marina Hyde and Richard Osman about what baffles him the most from the 21st century.
He said: ‘I think a lot of this influencer stuff – I just don’t really get it, because I’m not that generation.
‘But I see it, you can’t help it. My wife will be looking at Instagram and showing me something, and then one of those will come on.
‘I think it’s funny – and I suppose it always happened – but people who don’t seem to be particularly talented are incredibly famous. Billions of hits and views.
‘You’ve got to be careful about talking about that, because it makes you sound very old-fashioned. Which I am.’
Last month, the first track from Paul’s album, The Boys of Dungeon Lane, was released, called Days We Left Behind and is believed to be fully released in May.
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