Political Quotes

“Mr. Speaker, I thank the gentleman for yielding. Mr. Speaker, I rise today to express my support of the Eliminate Barriers to Innovation Act offered by my friend from North Carolina and the ranking member of the Committee on Financial Services, Mr. McHenry. The CFTC and the SEC have a long history of collaboration in financial market regulation. The working group created through this legislation will continue to build on this good work. Digital assets present unique new questions for regulators: How and where do these assets fit into the existing regulatory regime? What new standards are needed to continue to meet our bedrock principle of customer protection? Where do the CFTC and the SEC need to adjust their regulations to address the novel features and purposes of digital assets? While both the CFTC and the SEC are hard at work applying their statutory responsibilities and regulations to these digital assets, the disruptive, novel nature of these new type of assets demand a more holistic examination. This working group, with its mix of CFTC, SEC, and nongovernmental members, will be well placed to examine these important questions. The Eliminate Barriers to Innovation Act is a step forward in providing clear rules of the road for the creation, exchange, custody, and use of the full sweep of these new assets. Mr. Speaker, I thank the ranking member, Mr.…”