Political Quotes

“Mr. Speaker, I rise in support of the Financial Innovation and Technology for the 21st Century Act, or FIT21. I am proud to have played a critical role in crafting this bipartisan legislation. As a member of the House Financial Services Committee, I worked with my fellow North Carolinian and Chairman Patrick McHenry and Digital Assets Subcommittee Chairman French Hill, to ensure this bill brings regulatory clarity to the digital assets market while protecting consumers, promoting innovation, and advancing U.S. national security. The FIT for the 21st Century Act represents a bipartisan effort to regulate centralized intermediaries in the digital assets markets, prevent the next FTX, safeguard consumers, cement the U.S. as a global leader in finance and technology and promote a secure, innovative, and inclusive financial future. This commonsense legislation is designed to stop another FTX from happening by giving regulators increased power over bad actors, filling regulatory gaps between the SEC Commission and CFTC, creating accountability through registration and disclosures, requiring companies to mitigate conflicts of interest, and requiring firms to segregate customer funds from their own. This legislation provides the CFTC with the resources they requested to undertake the new rulemaking required by FIT21 and authorizes the CFTC to charge fees to intermediaries seeking to register. This would be a big deal for the United States.…”