Tom Emmer: “the United States stands at the forefront of the next digital renaissance, a transformative shift toward a decentralized…”

“the United States stands at the forefront of the next digital renaissance, a transformative shift toward a decentralized peer-to-peer digital economy. For many years, innovators and investors were forced to operate in a legal gray zone while agencies jostled for regulatory superiority over the digital asset ecosystem, leaving blockchain developers to pack up and move abroad. The CLARITY Act fixes this by creating regulatory guardrails tailored to the unique attributes of blockchain technology while giving users and developers the confidence to engage and innovate in this ecosystem. Gone are the days of arbitrary enforcement actions and regulatory turf wars that only hindered the development of this groundbreaking technology and drove capital overseas. This bill gives market participants the confidence to build, invest, and grow right here in the United States of America. We are proud to have the Securities Clarity Act included in this legislation. This provision provides market certainty for innovators and clear jurisdictional boundaries for regulators. Subsequently, elements of the Blockchain Regulatory Certainty Act were included, clarifying, once and for all, that digital asset developers and service providers who do not custody consumer funds are not considered money transmitters. Importantly, the CLARITY Act will help further decentralize our financial system so that Americans can forgo intermediaries and transact directly with each other.”