Political Quotes

“the only thing you need to know about the CLARITY Act is that it is designed to destroy U.S. capital markets. U.S. capital markets are the envy of the world because investors like putting their money in them. They are the envy of the world because we provide robust investor protections when people put their money in them, because of the Securities and Exchange Commission. Yet, the CLARITY Act would allow companies to raise up to $200 million over 4 years without any disclosure and without any transparency, just by tokenizing their security. Let's be clear. Putting a security on the blockchain doesn't make investors safe. It might make money for the crypto industry. Mr. Speaker, I know you all like that. It might make it possible for the companies to temporarily raise more money from dumb investors because they don't get that protection. If we stop protecting investors, then why would investors put their money in the stock market? They will abandon the U.S. to go to places with a better risk-reward. I understand we have a lot of fraud and grift in the White House. I understand Republicans are big fans of fraud and grift in the White House, but we don't need any more. Let's protect Americans' hard-earned savings. Let's protect markets and not just make crypto bros richer. I urge a resounding hell no.”