On the recordJuly 10, 2024
As I said when I made the presentation, they are close to working out the deal with SAB and the custody bank. Mr. McHENRY. Mr. Speaker, reclaiming my time, I would just say that the idea that Congress is going to wait because you have banks trying to get a special carve-out for themselves from Gary Gensler and the SEC, that is not sound public policy. The idea that Congress is going to wait and pause on overriding the President's veto is really bad policy that harms consumers. Just because we have a rumor that two people are talking or 10 people are talking, that is not the way a great state should do business. A great nation-state with the best capital markets on the globe should not be doing business this way. We should have clarity under the law that peoples' financial assets are going to be protected, and they are going to be protected in a resilient regime, which we have. We have it for securities. We have it for commodities. We should have it for digital assets, the same protections we have for these other financial assets, and we don't because of the actions of Gary Gensler and the Biden administration that have said that you can't hold these assets in custody. It has made it more risky for consumers to own digital assets. So let's reject this idea that we just wait for a couple of people to strike some private deal for a group of banks. Let's make this correct. Let's make it right for the American people. Let's vote to override this veto. Mr.…
