Political Quotes

“I have not seen a perfect bill since I have been in Congress, but this is a pretty good bill. It is an important bill. Regulating stablecoins is long overdue at the Federal level, but make no mistake, stablecoins aren't new. The New York Department of Financial Services has regulated stablecoins in the State of New York since 2018. They are time-tested and proven, and they have been stable. It is long overdue for us to provide Federal legal clarity here, so why am I speaking in opposition to it? My Republican colleagues are exactly right about the stablecoins and the need for regulation. That is why we passed the STABLE Act, but my Democratic colleagues are right this time to recognize that the legislative process is broken and, frankly, we all know that. Everyone in the House does. We have seen it broken on lots of things, but here, today, we have got a defective product that our legislative process prevented us from fixing.”