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Pat McHenry
@patmchenry· Republican · NC· Feb 7, 2022

Given the explosive growth in the stablecoin and cryptocurrency space, it is critical, I believe, that Congress examine how best to establish appropriate guardrails around stablecoins.

congress.gov
Pat McHenry
@patmchenry· Republican · NC· Feb 7, 2022

I do think we can learn a lot from the State regulatory framework, what they have done well, and the things that we can do better.

congress.gov
Pat McHenry
@patmchenry· Republican · NC· Feb 7, 2022

Shouldn't we be in the game of de-risking rather than adding to the risk of a Federal bailout or, yes, for these products?

congress.gov
Pat McHenry
@patmchenry· Republican · NC· Feb 7, 2022

By that same notion, you would like to have a single regulator at the Federal level for all financial institutions.

congress.gov
Pat McHenry
@patmchenry· Republican · NC· Feb 7, 2022

There are no lessons learned from the States included in this report, and I was interested in why that was.

congress.gov
Pat McHenry
@patmchenry· Republican · NC· Feb 7, 2022

But what I am asking is a separate question. Look, this is not an adversarial conversation.

congress.gov
Pat McHenry
@patmchenry· Republican · NC· Feb 7, 2022

I think we can have some consensus here on how we get ahead, but one area that I think this committee should examine is the current State regulatory frameworks.

congress.gov
Pat McHenry
@patmchenry· Republican · NC· Feb 7, 2022

We should not, as this report does, limit our focus to only the risks.

congress.gov
Pat McHenry
@patmchenry· Republican · NC· Feb 7, 2022

I hope that today we can think bigger and more comprehensively and discuss the potential benefits of increased use of stablecoins.

congress.gov
Pat McHenry
@patmchenry· Republican · NC· Feb 7, 2022

We cannot regulate out of fear of the future.

congress.gov
Pat McHenry
@patmchenry· Republican · NC· Feb 7, 2022

Washington's knee-jerk reaction to regulate out of fear will not allow stablecoins to achieve their full potential.

congress.gov
Pat McHenry
@patmchenry· Republican · NC· Feb 7, 2022

We are trying to de-risk, not add risk to the Federal taxpayer.

congress.gov
Pat McHenry
@patmchenry· Republican · NC· Feb 7, 2022

Currently, there is no Federal law to address digital assets.

congress.gov
Pat McHenry
@patmchenry· Republican · NC· Feb 7, 2022

What is clear is that we need legislation. We agree on that.

congress.gov
Deborah Koff Ross
@deborahkoffross· Democratic · NC· Feb 2, 2022

I do have a few more minutes to share some information about the America COMPETES Act. Then I would be prepared to close.

govinfo.gov
Deborah Koff Ross
@deborahkoffross· Democratic · NC· Feb 2, 2022

For the purpose of debate only, I yield the customary 30 minutes to the gentlewoman from Minnesota (Mrs. Fischbach), pending which I yield myself such time as I may consume. During consideration of this resolution, all time yielded is for…

govinfo.gov
Virginia Foxx
@virginiafoxx· Republican · NC· Feb 1, 2022

Let me make one thing clear: Israel has never been and will never be an apartheid state. Amnesty International's latest report that labels Israel as an apartheid state is nothing short of an outright denial of the Jewish State's right to…

govinfo.gov
Madison Cawthorn
@madisoncawthorn· NC· Feb 1, 2022

The Democrats with all the fraud they have done in this election, the Republicans hiding and not fighting, they are trying to silence your voice. Make no mistake about it. They do not want you to be heard.

msnbc.com