The United States are on the verge of a new technological border – one driven by blockchain and digital assets. These assets are not only the next phase of the Internet, but lay the basis for a more secure, decentralized and inclusive economic future. From reimaginating global payments to data protection protection, the potential of blockchain-based systems is endless.
Despite the promise of this technology, the United States remains without a clear, comprehensive federal legislative framework for digital assets. This absence has created uncertainty for innovators, consumers and investors.
Entrepreneurs operating in the digital asset operating in the digital asset space face ambiguous rules and unclear jurisdiction boundaries between Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). Investors lack the transparency and protection they deserve. During the Biden administration, SEC chose to regulate through enforcement rather than through clear guidance or cooperation. The Agency’s approach has led to litigation, confusion and offshoring of promising US companies seeking regulatory security abroad.
For years, Congress has worked under both Republican and Democratic Management to close this gap and create a tailor -made, modern regulatory framework. This work reached a milestone in May 2024, when the US Representative House adopted economic innovation and technology for the 21st century (Fit21) law with Bipartisan support when 71 Democrats voted for the bill. Fit21 laid the basis for how digital assets should be processed under US law, clarified the roles of CFTC and SEC and provided roads for registration, disclosure and compliance.
We build this congress at that momentum and continue to push for smart, tailor -made politics that promote innovation while protecting consumers.
In April, the House Financial Services Committee adopted Bipartisan Stable Act, which would establish a clear and comprehensive set of rules for issuing and regulating payment stablecoins that have the potential to modernize the way we act by making payments faster, cheaper and more inclusive.
Yesterday we took another big step forward. The Committee for Financial Services and House Agriculture Committee adopted the Clarity Act, a landmark Bipartisan -Bill proposal that was carefully designed between our selection. The Clarity Act creates a functional framework for classification of digital assets, gives builders and businesses clear legislative obligations and ensures robust consumer protection against fraud and poor actors.
The stalls and clarity are the most extensive digital active -regulating framework that Congress has ever joined. Overall, these bills will ensure that the United States sets the global standard for the future of digital assets.
We are obliged to cooperate with our colleagues in both chambers to adopt extensive digital asset legislation in the law. The rest of the world is not waiting to lead in blockchain innovation. If we fail to act, we risk giving up leadership in one of the most transformative technologies in modern history.
The congress has the opportunity and responsibility for establishing a legislative framework that unlocks the next era of American innovation. It is time for the United States to lead in the new digital border.
