If I am an issuer and I want to create a stablecoin, I technically don't know if I am going to be answering to a State regulator, a Federal banking regulator, the SEC, or the CFTC.

I think we need to look forward here.

It is almost like it was a game. You know, it was a--you are in this chat room with--supposedly, with small amounts of people.

You are endangering lives. You are endangering, you know, freedoms, just eroding trust.

The FDA is holding an advisory committee meeting on opiates today in particular on the questionable clinical trial practice known as enriched enrollment.

It is almost like it was a game. You know, it was a--you are in this chat room with--supposedly, with small amounts of people.

This is bad for jobs. It is bad for the strength of the dollar. It is bad for our status as a reserve currency.

I think we need to look forward here.

That was the questionable pay to play where they would pay to present themselves before the FDA advisory committees.

You are endangering lives. You are endangering, you know, freedoms, just eroding trust.

Just this morning, before the hearing, I saw news that Russia is exploring legislation to formalize their ability to transact in crypto.

I would call upon the subcommittee to think deeply about passing some sort of bill about stablecoins.

I think we need to look forward here.

I think that is important for not just system-wide, but for us to know, and the American public to know, so a transparent process there.

It is not a game. You are endangering lives. You are endangering, you know, freedoms, just eroding trust.

Despite your assurances, I think it is clear this rule will be devastating to my State of West Virginia.

I never imagined I would say that, because American Presidents are not supposed to so brazenly weaponize the SEC to push through radical climate change policies.

The Securities and Exchange Commission is maybe the Agency that most directly threatens the livelihoods of West Virginians today.