Sometimes when Congress discusses cryptocurrency, you see concerned faces. You see sometimes people reflecting a certain degree of fear or anxiety.

I introduced the Digital Asset Market Structure and Investor Protection Act earlier this year.

In fact, for these very reasons aren't there ways in which crypto markets are always improving consumer safety and reducing financial risk?

If we ban some of these privacy features in cryptocurrencies or if we regulate them to death, how might we be precluding or missing out on some of the beneficial innovations that require privacy protections?

Today, American innovators are advancing into the unknown frontiers of cryptocurrencies.

Rigid one-size-fits-all regulation is something that is kind of scary, especially when it is targeted at the cryptocurrency.

It should do so with an eye to not destroying this industry rather than simply using a machete.

Because they are based on a new technology, they could offer some real advantages, it seems to me, to lower-income customers.

There is always a temptation in Washington to expand the Federal Government's reach.

If we want the center of innovation to remain right here in the United States for the benefit of American workers and American families, Congress should focus on creating clarity around how existing rules apply to these new technologies.

I wish that political people would say, let us point out to the American people do you really want to leave if there is going to be abandonment of our principles.

I do not think that was a viable approach either in national security terms or in political terms.

We have left behind thousands, we have broken promises to friends and allies, we have abandoned women and girls there.

there is always going to be a temptation here in Washington to expand the Federal Government's reach.

The proper role of government is to empower innovation through clear rules with a light touch.

I have deep concerns that Congress is already in the process of doing so.

Throughout the history of our great Nation, entrepreneurs and creators have served as the heartbeat of the American economy.

In some cases, it could threaten the lives of people. In other words, it can be more than just an inconvenience. For some, it could mean the difference between life and death.