Political Quotes

“I thank the gentleman from Pennsylvania for his constructive amendment. I think it is the absolute right approach. I want to associate myself with the comments from the chairman of the Commodity Markets, Digital Assets, and Rural Development Subcommittee from the House Ag Committee, Mr. Johnson, on that. Madam Chair, FIT21 does exactly the opposite of what has been argued by the minority today. It gives a clear regulatory framework. It prevents fraud. It does require registration, custody, capital requirements. It gives clarity for the first time in American history to how we do securities and commodity oversight for digital assets. The minority has also charged time and time again that somehow a great securities loophole is being opened in this bill. {time} 1645 It is just not true. It is not a factual statement. The term ``investment contract'' is a fungible, digital representation. It is not all these other items. In fact, the bill specifically says the term ``digital asset'' does not include notes, stock, Treasury stock, securities, security-based swaps, and a whole list. It does not open the loophole that the ranking member of the Financial Services Committee charges. I urge a ``yes'' vote on the bill and a ``yes'' vote for Mr. Perry's amendment. Let's have regulatory credibility and clarity for a competitive United States in the 21st century.”