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The U.S. CLARITY Act is entering a critical two weeks, with multiple parties intensifying discussions during the Senate recess

According to Crypto in America, the U.S. Senate will recess until July 13, and the advancement of the CLARITY Act depends on the progress of behind-the-scenes coordination over the next two weeks. Staff from both parties, government officials, and industry stakeholders are working to resolve remaining differences, including reconciling text discrepancies between the Banking Committee and the Agriculture Committee, as well as reaching consensus on ethical standards and provisions to combat illegal financial activities.The bill requires the support of at least 60 senators to pass. Even if all 53 Republican votes are in favor, at least 7 Democratic senators will need to join; the support of the majority of Democrats may depend on whether the White House can agree to establish a strong ethical framework regarding issues related to Trump's cryptocurrency business. According to Reuters, since Trump's return to the White House, his cryptocurrency business has generated over $2 billion in new wealth for him.Additionally, major law enforcement groups still oppose the inclusion of provisions from the Blockchain Regulatory Certainty Act in the bill, arguing that it would increase the difficulty of investigating and prosecuting on-chain crimes. Remaining discrepancies in the Agriculture Committee's text include issues such as the prioritization of federal law over state law, management of conflicts of interest in exchanges, and restrictions on related-party transactions. Sources indicate that the parties have not yet reached a final agreement, and there remains uncertainty about whether the Senate vote can be completed before the August recess.

Insiders: The Dark Side of the Moon is considering going public in Hong Kong and has begun discussions with companies like Goldman Sachs

According to a report by Bloomberg, Kimi's parent company, Moon's Dark Side, is in the preliminary stages of considering an initial public offering in Hong Kong and has begun discussions with China International Capital Corporation and Goldman Sachs regarding the listing cooperation. The specific timing has not yet been determined, and the planning is still underway, with the possibility that it may not proceed. Both Moon's Dark Side and Goldman Sachs declined to comment, and China International Capital Corporation did not respond.After completing over $700 million in financing earlier this year, Moon's Dark Side is negotiating a new round of financing, with a scale of up to $1 billion, which would bring its valuation to approximately $18 billion after this round of funding. Its C round valuation was about $4.3 billion at the end of last year, and the valuation has since risen rapidly. Founder Yang Zhilin stated in an internal letter at the end of last year that the company has 10 billion RMB in cash and is "not in a hurry to go public in the short term." There were also rumors of a "backdoor listing" last December, which the company denied.Competitors in the same sector, Zhiyu and MiniMax (Xiyu Technology), have already gone public on the Hong Kong Stock Exchange, and taking advantage of the investor enthusiasm generated by peers going public, Moon's Dark Side has been accelerating its financing in the private equity market.
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