Joseph Haynes Davis: “I rise in support of H.R. 3633, known as the CLARITY Act. I am honored to serve as a co-lead on this legislation…”

“I rise in support of H.R. 3633, known as the CLARITY Act. I am honored to serve as a co-lead on this legislation, alongside Chairman Thompson, Chairman Hill, Ranking Member Craig, Subcommittee Chair Johnson, and so many others who came to the table in good faith to get this done. Let me also take a moment to thank the staff, both the majority and the minority staff. They put in so many hours working on this. I know I was up late one night. It was probably midnight. I really commend the team. They helped work on a very complex issue here that is before us and to help shape a bipartisan product that reflects the seriousness of the moment. This bill reflects compromise, collaboration, and months of work to craft the regulatory framework that meets the moment, because the truth is, we can't afford to fall behind. Right now we are at a crossroad. The digital asset industry is growing, evolving, changing the way people around the world engage with financial markets and emerging technologies. Without a clear regulatory structure in place, we are seeing innovation move overseas not because our talent isn't here, but because the rules aren't here. The CLARITY Act provides us with an opportunity then to change that, to lead, to establish thoughtful and balanced guardrails that support innovation, protect consumers, and foster confidence in our markets.”