I also include an excerpt from Coinbase's Form S-1 filing acknowledging the risk that Coinbase could be found to be illegally acting outside of securities laws, excerpts from the SEC's complaint against Coinbase alleging that Coinbase was…

I reserve the balance of my time. Mr. McHENRY. Mr. Chair, I yield 1 minute to the gentleman from Kansas (Mr. Mann).

I reserve the balance of my time. Mr. McHENRY. Mr. Chair, I yield 1 minute to the gentleman from Tennessee (Mr. Rose), a great leader on the Agriculture and Financial Services Committees.

I reserve the balance of my time. Mr. McHENRY. Mr. Chair, I yield 1 minute to the gentleman from Wisconsin (Mr. Steil), the chair of the House Administration Committee and a great member of the Financial Services Committee on innovation…

I reserve the balance of my time. Mr. McHENRY. Mr. Chair, I yield 1 minute to the gentleman from Utah (Mr. Curtis).

I thank the gentleman from Texas for attempting this amendment. As a matter of fact, there have been any number of Members from this side of the aisle who have been attempting to amend this bill to try and make it better. While I have…

I reserve the balance of my time. Mr. McHENRY. Mr. Chair, I yield 1 minute to the gentleman from Nebraska (Mr. Flood), a great legislator in the innovation space.

If the gentleman has no more speakers, I am prepared to close. Mr. McHENRY. Mr. Chair, I yield 1 minute to the gentlewoman from California (Mrs. Kim).

I reserve the balance of my time. Mr. McHENRY. Mr. Chair, does the gentlewoman have any additional speakers?

It is no mystery why the crypto industry prefers to be regulated by the CFTC rather than the SEC. Let's start with the substantial differences in funding and staff for the CFTC compared to SEC. In 2023, the CFTC employed roughly 680…

I reserve the balance of my time. Mr. McHENRY. Mr. Chair, may I inquire as to the time remaining on both sides. The Acting CHAIR (Mr. Van Drew). The gentleman from North Carolina has 16 minutes remaining. The gentlewoman from California…

I reserve the balance of my time. Mr. McHENRY. Mr. Chair, I yield 1 minute to the gentleman from Michigan (Mr. Huizenga), the chair of the Oversight and Investigations Subcommittee of the House Financial Services Committee.

I claim the time in opposition to the amendment, but I am not opposed to it. The Acting CHAIR. Without objection, the gentlewoman from California is recognized for 5 minutes. There was no objection.

While I do not oppose this amendment, I will emphasize that the broad deregulatory nature of the not fit for purpose act is such that it would severely weaken our capital markets and make us more vulnerable to bad actors, both domestic and…

The bill's supporters have claimed that this bill is necessary to provide legal clarity as to when a digital asset is considered a security and when it is considered a commodity, but this bill is anything but clear. It is 253 pages of…

I demand a recorded vote. The Acting CHAIR. Pursuant to clause 6 of rule XVIII, further proceedings on the amendment offered by the gentleman from South Carolina will be postponed. Amendment No. 4 Offered by Mr. Perry The Acting CHAIR. It…

I reserve the balance of my time. Mr. McHENRY. Mr. Chair, the gentlewoman from California has indeed been a great advocate for consumer protection. Mr. Chair, I yield 1 minute to the gentleman from New Jersey (Mr. Gottheimer).

I continue to reserve the balance of my time. Mr. McHENRY. Mr. Chair, I yield 1\1/2\ minutes to the gentleman from Ohio (Mr. Davidson), who is the vice chair of the Individual Assets and Financial Technology Subcommittee and the OG, as…