Political Quotes

“Mr. Chair, the United States has no meaningful Federal regulation of the digital asset markets. The attempts by regulators to apply existing laws are arbitrary and unclear. The fact is, the status quo does not work. Without a clear Federal framework, we fail to provide adequate consumer protections and forfeit our international competitiveness. This hurts U.S. consumers, investors, and the entire economy. This is why this bill is so important. The legislation establishes a market structure framework that accounts for the unique characteristics of digital assets, adhering to the core principles of the Commodity Exchange Act. U.S. consumers are actively participating in the digital asset market, and we should ensure they are protected from fraud and scams. This bill does that. Mr. Chair, I thank Chairman McHenry and Chairman Thompson for all of their work on this legislation, and I urge my colleagues to support the bill.”