Political Quotes

“Mr. Chair, I rise in support of the Financial Innovation and Technology for the 21st Century Act, or FIT21, which I am proud to cosponsor. This legislation is a product of hundreds and hundreds of hours of bipartisan collaboration, and I was proud to work with Chair McHenry, Digital Assets Subcommittee Chair Hill, and members of the House Financial Services Committee to get this bill on the floor. This is a big deal. We are currently relying on 90-year-old securities laws written before the internet even existed. Congress has never voted on a regulatory structure for crypto. Roughly 20 percent of Americans have invested, traded, or used crypto. It is not going anywhere. Whether you love crypto or you hate it, you should support regulation, because the status quo just isn't working. We can't wait for the next FTX to take action. It is clear there are regulatory gaps between the SEC and the CFTC. Right now, the United States is the global leader in financial services and technology. If we still want to hold this position in 50 years, then we need to pass FIT21. Support for U.S. leadership in digital assets shouldn't be a partisan issue. I urge my colleagues on both sides of the aisle to support this legislation. Mr. Chair, I include in the Record a letter of support from the Chamber of Progress outlining how FIT21 lays out strong rules of the road, consumer protections, and supports innovation.…”