Political Quotes

“I want to say, however, that we are doing financial services business in this bill, and we are the Financial Services Committee to fund regulatory agencies. To that extent, I understand its relevance. I must say that it is going to be difficult for Members who haven't seen this process by the Financial Services Committee to fully understand the ramifications of the proposal, and I think that is unfortunate. Having said that, I also believe, again from a nonmember of the committee, that this cryptocurrency and crypto financial instruments certainly need to be looked at and are being looked at on both sides of the Congress to ensure that Bankman-Fried actions don't happen to defraud a lot of people. I really think what will happen here is when we go to conference, assuming we go to conference, that this is going to be looked at. We are going to hear from Treasury on it and also, obviously, the SEC, to see where we ought to land on this issue of no funds to carry out, I presume, any enforcement action related to crypto asset transactions. I understand the gentleman's comment that there are at least three other agencies that would have the ability to move. Mr. Chairman, I think that the best thing to do--this amendment, obviously, is going to move forward, and I'm going to urge both SEC and Treasury and the administration to look at it as it moves through conference. I reserve the balance of my time.”