I am grateful for the House Ethics Committee's decision and dismissed allegations of misconduct as driven by politically motivated actors on the extreme left.

In West Virginia, we have a lot of small banks.

My good friend, Mr. Williams, often starts some of the discussions by asking whether you are a capitalist or a socialist.

I introduced H.R. 804, the Chinese CBDC Prohibition Act of 2023. This bill prohibits U.S. money services businesses from engaging in transactions involving a central bank digital currency issued by China.

If I am an issuer and I want to create a stablecoin, I technically don't know if I am going to be answering to a State regulator, a Federal banking regulator, the SEC, or the CFTC.

I would call upon the subcommittee to think deeply about passing some sort of bill about stablecoins.

Just this morning, before the hearing, I saw news that Russia is exploring legislation to formalize their ability to transact in crypto.

This is bad for jobs. It is bad for the strength of the dollar. It is bad for our status as a reserve currency.

Would you agree that Congress is better suited than the SEC to enact climate policy?

Let me be clear in my last 30 seconds. The SEC has no business enacting climate policy, which is exactly what you are doing.

Despite your assurances, I think it is clear this rule will be devastating to my State of West Virginia.