Providing for Consideration of H.R. Department of Defense Appropriations Act, Providing for Consideration of H.R. Digital Asset Market Clarity Act of Providing for Consideration of H.R. Anti-Cbdc Surveillance State Act; Providing for Consideration of S. Guiding and Establishing National Innovation for U.S. Stablecoins Act; and Waiving A Requirement of Clause 6(A) of Rule Xiii with Respect to Consideration of Certain Resolutions Reported From the Committee on Rules

Floor Speech

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Mr. JACK. Mr. Speaker, by the direction of the Committee on Rules, I call up House Resolution 580 and ask for its immediate consideration.

The Clerk read the resolution, as follows: H. Res. 580

Resolved, That at any time after adoption of this resolution the Speaker may, pursuant to clause 2(b) of rule XVIII, declare the House resolved into the Committee of the Whole House on the state of the Union for consideration of the bill (H.R. 4016) making appropriations for the Department of Defense for the fiscal year ending September 30, 2026, and for other purposes. The first reading of the bill shall be dispensed with. All points of order against consideration of the bill are waived. General debate shall be confined to the bill and shall not exceed one hour equally divided and controlled by the chair and ranking minority member of the Committee on Appropriations or their respective designees. After general debate the bill shall be considered for amendment under the five-minute rule. The bill shall be considered as read. Points of order against provisions in the bill for failure to comply with clause 2 or clause 5(a) of rule XXI are waived.

Sec. 2. (a) No amendment to H.R. 4016 shall be in order except those printed in part A of the report of the Committee on Rules accompanying this resolution, amendments en bloc described in section 3 of this resolution, and pro forma amendments described in section 4 of this resolution. (b) Each amendment printed in part A of the report of the Committee on Rules shall be considered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment except as provided by section 4 of this resolution, and shall not be subject to a demand for division of the question in the House or in the Committee of the Whole.

(c) All points of order against amendments printed in part A of the report of the Committee on Rules or against amendments en bloc described in section 3 of this resolution are waived.

Sec. 3. It shall be in order at any time for the chair of the Committee on Appropriations or his designee to offer amendments en bloc consisting of amendments printed in part A of the report of the Committee on Rules accompanying this resolution not earlier disposed of. Amendments en bloc offered pursuant to this section shall be considered as read, shall be debatable for 20 minutes equally divided and controlled by the chair and ranking minority member of the Committee on Appropriations or their respective designees, shall not be subject to amendment except as provided by section 4 of this resolution, and shall not be subject to a demand for division of the question in the House or in the Committee of the Whole.

Sec. 4. During consideration of H.R. 4016 for amendment, the chair and ranking minority member of the Committee on Appropriations or their respective designees may offer up to 10 pro forma amendments each at any point for the purpose of debate.

Sec. 5. At the conclusion of consideration of H.R. 4016 for amendment the Committee shall rise and report the bill to the House with such amendments as may have been adopted. The previous question shall be considered as ordered on the bill and amendments thereto to final passage without intervening motion except one motion to recommit.

Sec. 6. Upon adoption of this resolution it shall be in order to consider in the House the bill (H.R. 3633) to provide for a system of regulation of the offer and sale of digital commodities by the Securities and Exchange Commission and the Commodity Futures Trading Commission, and for other purposes. All points of order against consideration of the bill are waived. In lieu of the amendments in the nature of a substitute recommended by the Committees on Agriculture and Financial Services now printed in the bill, an amendment in the nature of a substitute consisting of the text of Rules Committee Print 119-6, modified by the amendment printed in part B of the report of the Committee on Rules accompanying this resolution, shall be considered as adopted. The bill, as amended, shall be considered as read. All points of order against provisions in the bill, as amended, are waived. The previous question shall be considered as ordered on the bill, as amended, and on any further amendment thereto, to final passage without intervening motion except: (1) one hour of debate equally divided among and controlled by the chair and ranking minority member of the Committee on Agriculture or their respective designees and the chair and ranking minority member of the Committee on Financial Services or their respective designees; (2) the further amendment printed in part C of the report of the Committee on Rules, if offered by the Member designated in the report, which shall be in order without intervention of any point of order, shall be considered as read, shall be separately debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, and shall not be subject to a demand for division of the question; and (3) one motion to recommit.

Sec. 7. Upon adoption of this resolution it shall be in order to consider in the House the bill (H.R. 1919) to amend the Federal Reserve Act to prohibit the Federal reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes. All points of order against consideration of the bill are waived. The amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill shall be considered as adopted. The bill, as amended, shall be considered as read. All points of order against provisions in the bill, as amended, are waived. The previous question shall be considered as ordered on the bill, as amended, and on any further amendment thereto, to final passage without intervening motion except: (1) one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services or their respective designees; and (2) one motion to recommit.

Sec. 8. Upon adoption of this resolution it shall be in order to consider in the House the bill (S. 1582) to provide for the regulation of payment stablecoins, and for other purposes. All points of order against consideration of the bill are waived. The bill shall be considered as read. All points of order against provisions in the bill are waived. The previous question shall be considered as ordered on the bill and on any amendment thereto to final passage without intervening motion except: (1) one hour of debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services or their respective designees; and (2) one motion to commit.

Sec. 9. 4) to rescind certain budget authority proposed to be rescinded in special messages transmitted to the Congress by the President on June 3, 2025, in accordance with section 1012(a) of the Congressional Budget and Impoundment Control Act of 1974.

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Mr. JACK. Mr. Speaker, for the purpose of debate only, I yield the customary 30 minutes to the gentlewoman from Pennsylvania (Ms. Scanlon), pending which I yield myself such time as I may consume. During consideration of this resolution, all time yielded is for the purpose of debate only. General Leave
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Mr. JACK. Mr. Speaker, last night the Rules Committee met and reported a rule, House Resolution 580, providing for consideration of four measures: H.R. 1919, the Anti-CBDC Surveillance State Act, under a closed rule.

The rule provides 1 hour debate, equally divided and controlled by the chair and ranking member of the Committee on Financial Services or their respective designees and provides one motion to recommit.

Additionally, the rule provides for consideration of H.R. 3633, the Digital Asset Market Clarity Act of 2025, also known as the CLARITY Act, under a structured rule.

The rule provides 1 hour of debate, equally divided among and controlled by the chair and ranking member of the Committee on Financial Services and the Committee on Agriculture or their respective designees, provides one motion to recommit, and makes one amendment in order.

Further, the rule provides for consideration of S. 1582, the Guiding and Establishing National Innovation for U.S. Stablecoins Act, also known as the GENIUS Act, under a closed rule.

The rule provides 1 hour of debate, equally divided and controlled by the chair and ranking member of the Committee on Financial Services or their respective designees, and provides for one motion to recommit.

The rule also provides for consideration of H.R. 4016, the Department of Defense Appropriations Act of 2026, under a structured rule. The rule provides 1 hour of debate, equally divided and controlled by the chair and ranking member of the Committee on Appropriations or their respective designees, provides for one motion to recommit, and makes 330 amendments in order.

Finally, the rule provides for same-day consideration of a measure related to rescissions this week.

Mr. Speaker, we are here today to debate a rule on four pieces of legislation, beginning with H.R. 1919, the Anti-CBDC Surveillance State Act.

Mr. Speaker, H.R. 1919 serves as a critical safeguard against the financial power and erosion of individual privacy in the United States, as it would prohibit the Federal Reserve from issuing a central bank digital currency, CBDC, or using it to conduct monetary policy without explicit authorization from Congress.

I would like to pose a fundamental question to my colleagues. Should the Federal Government have the power to monitor, control, or restrict how Americans use their own hard-earned money? Further, should the Federal Government be allowed to make such sweeping decisions behind closed doors without input from the public or their elected representatives?

At its core, this bill is about ensuring the preservation of personal financial freedom. The American people have a basic right to financial privacy. They have the right to spend, save, and manage their money free from surveillance or interference.

A CBDC would explicitly threaten that right by giving the Federal Government unprecedented insight into individual transactions and the potential ability to control or limit access to personal funds.

H.R. 1919 is about one thing: stopping the government from gaining unchecked power over how Americans conduct their financial lives. It ensures that if any form of digital currency is ever created by the Federal Reserve, it must be debated, authorized, and legislated by Congress instead of unilaterally developed by unelected bureaucrats operating behind closed doors.

The potential consequences are too significant to permit unchecked bureaucratic experimentation with tools that could fundamentally redefine the relationship between individuals and their government without clear oversight risks undermining longstanding economic principles.

Now is the time for Congress to assert its role and ensure that any future developments uphold the values of transparency, individual rights, and a market-driven economy.

Next, Mr. Speaker, the rule also provides for the consideration of H.R. 3633, the Digital Asset Market Clarity Act of 2025, otherwise known as the CLARITY Act. H.R. 3633 delivers a foundational framework that has been missing for far too long, which is clear, consistent rules for digital assets and the innovators building the future of finance.

For years, American entrepreneurs and developers in the digital asset space have been forced to navigate a regulatory maze marked by conflicting guidance, shifting definitions, and enforcement actions in place of actual rules. These inconsistent conditions have stifled domestic innovation, discouraged responsible market participation, and driven capital and talent to more favorable jurisdictions abroad.

H.R. 3633 addresses these issues directly by clarifying the legal status of digital assets and establishing well-defined regulatory responsibilities between the SEC and CFTC, creating a more predictable landscape for market participants while preserving critical investor protections and maintaining the integrity of U.S. financial markets.

This legislation reasserts the role of Congress in setting national policy for emerging financial technologies. It ensures that decisions with far-reaching economic implications are not made through regulatory overreach but through transparent and deliberative processes.

H.R. 3633 is not only sound regulatory policy but also essential economic policy. It will help preserve the United States' leadership in financial innovation, support the growth of compliant digital asset markets, and provide much-needed certainty to investors, developers, and regulators alike.

In an increasingly competitive global financial landscape, this legislation positions the United States to lead with clarity, credibility, and confidence.

Additionally, Mr. Speaker, the rule provides for consideration of S. 1582, the Guiding and Establishing National Innovation for U.S. Stablecoins Act, otherwise known as the GENIUS Act.

This is not just a stablecoin bill. This is a strategic step toward modernizing the U.S. financial infrastructure for the digital age while protecting the interests of consumers, markets, and the Nation.

S. 1582 provides a comprehensive regulatory framework for the issuance and oversight of payment stablecoins in the United States. It is designed to support responsible innovation, ensure consumer protection, and preserve the role of the U.S. dollar in an increasingly digitized global financial system.

Stablecoins have become an essential component of the digital asset economy, as they offer faster, lower-cost transactions and expand access to financial services. In the absence of a clear Federal framework, however, stablecoin development has outpaced regulation, leaving investors without consistent protections and businesses without clear rules of the road.

This legislation changes that by providing clear, enforceable standards for payment stablecoin issuers, creating practical regulatory pathways through both State and Federal charters and setting strong reserve and disclosure requirements to ensure these assets remain secure and trustworthy.

Critically, this bill prohibits the issuance of algorithmic stablecoins lacking sufficient collateral, guarding against destabilizing risks that could ripple through the broader financial system. Also reinforcing the primacy of the U.S. dollar, this bill ensures that dollar-backed stablecoins are subject to prudent oversight and sound risk management.

At a time when other nations are rapidly moving to define the future of digital finance, S. 1582 ensures the United States takes a prompt and necessary step forward with clarity, credibility, and confidence.

Finally, Mr. Speaker, this rule provides for consideration of H.R. 4016, the Department of Defense Appropriations Act of 2026.

H.R. 4016 provides the critical funding necessary to ensure the readiness, modernization, and global strength of the United States Armed Forces. This bill reflects Congress' enduring commitment to our national defense and to the brave men and women who dutifully and selflessly serve this country with distinction.

At a time of rising global threats from strategic competitors, like China and Russia, to unstable regimes and nonstate actors, America must remain prepared and ready. Deterrence requires strength, and strength requires sustained investment, which is exactly what this legislation delivers.

This bill funds operations, maintenance, personnel, and procurement across all branches of the military, ensuring that our servicemembers have the tools, training, and resources they need to succeed in every domain, including land, air, sea, space, and cyberspace. It provides for next-generation systems and emerging technologies, strengthens our nuclear deterrent, and supports investments in cyber capabilities to defend against 21st century threats.

Importantly, this legislation continues bipartisan efforts to improve military quality of life, including robust funding for servicemember pay increases, housing improvements, and family support programs, believing that those who sacrifice to defend this country should never have to sacrifice dignity or stability at home.

H.R. 4016 reflects a deep commitment to national security, strategic deterrence, and support for those who serve. It targets stability, honors peace through strength, and honors our constitutional duty to provide for the common defense, reinforcing global stability, and ensuring that the United States remains ready to respond to emerging threats with confidence,capability, and conviction.

Mr. Speaker, I look forward to consideration of these pieces of legislation, urge passage of this rule, and I reserve the balance of my time.

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Mr. JACK. Mr. Speaker, for the Record, supporters of cryptocurrency exercised their First Amendment right last election and contributed to many candidates.

In fact, those supporters spent over $50 million in support of Democrat candidates. Supporters of cryptocurrency are not just Republicans or Democrats. These are Americans who are very eager to see us pass the most important legislation for the cryptocurrency industry in history this week.

Foxx), our Rules Committee chairwoman.

Mr. Speaker, my colleagues are referring to a tactic Democrats employed, yet again, to try to take control of the House of Representatives through the Rules Committee. They did so because they are desperate to stop us from passing the most important cryptocurrency legislation in the history of our country and because they are, for whatever reason, desperate to stop us from bringing forward our legislation that funds our brave military.

The Republican majority is not going to hand the keys to the House of Representatives to a caucus that, on a daily basis, impugns and denigrates the 77 million Americans who voted for President Trump.

To my friends watching at home who support bitcoin and cryptocurrency: Make no mistake. Members of Congress who vote against the rule today are voting against the most important legislation for the cryptocurrency industry in history.

I beseech my colleagues who appreciate, support, and invest in cryptocurrency to study today's vote. Do not let those who vote against us today come around during election time to ask for support as they claim to fight for this incredible industry. Judge them by their vote today.

I join the millions of Americans who want accountability for anyone who committed crimes with Jeffrey Epstein. But I ask you: Can you really trust the same radical leftists who presided over one of the greatest scandals in American history, a coup in Joe Biden's White House in which unelected staff actively sought the destruction of our country?

Can you really trust the same radial leftists who sought to segregate those of us who opted to make medical decisions for ourselves during the COVID-19 pandemic?

Can you really trust the same radical leftists who have spent the last decade trying and failing, trying and failing, and trying and failing to tear down President Trump, one of the greatest Presidents in American history?

Can you really trust those same people, who are trying to stop us from passing the most important cryptocurrency legislation in history and appropriations to fund our brave military today?

A vote against today's rule is a vote against cryptocurrency and our Department of Defense.

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Mr. JACK.

Mr. MOORE of West Virginia. Mr. Speaker, I thank the gentleman from Georgia (Mr. Jack) for yielding.

Mr. Speaker, I rise in support of the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act.

I am a cosponsor, actually, of the CLARITY Act, which creates clear, enforceable rules for digital commodity markets and gives innovators confidence to build here in the United States of America.

Similarly, the GENIUS Act establishes a dollar-backed stablecoin, reinforcing the U.S. dollar's dominance in global financial markets.

Finally, the anti-CBDC legislation ensures that we never enact a CCP- like financial surveillance regime in this country.

Together, these bills ensure that the U.S. remains the world leader in digital asset innovation. I encourage my colleagues to support these commonsense pieces of legislation.

Mr. MOORE of North Carolina. Mr. Speaker, digital assets are not some future concept. They are already a key part of our financial system, and Washington needs to start acting like it. Nearly one in three Americans have used them in some form, and we cannot afford to let our adversaries, especially the Chinese Communist Party, write rules for this new financial frontier as we sit on the sidelines.

That is why we are advancing these three critical pieces of legislation to make sure that America stays the world leader in financial innovation.

Under the Biden administration, America's innovators operated in a cloud of legal uncertainty, at best. Folks had to choose between dealing with outdated rules or taking their ideas overseas. The Trump administration, however, has taken a much more forward-thinking approach, and now it is Congress' turn to step up.

The CLARITY Act changes this to establish clear regulatory language that allows for the protection of consumers, while also giving innovators the certainty that they need to build and grow right here in the United States.

Stablecoins have shown real promise for faster, cheaper payments at home and abroad. They have opened access to the U.S. dollar for people who have never had that kind of financial stability before. Yet, while the private sector has raced ahead, Washington has been stuck.

The GENIUS Act fixes that. It gives stablecoin issuers a regulatory framework for strong reserves, real redemption rights, and smart risk management.

Finally, the Anti-CBDC Surveillance State Act is about protecting liberty. It blocks the Federal Government from launching a central bank digital currency that could be used to track or control how law-abiding citizens spend their dollars.

Together, with these three bills, this is a big step forward. President Trump is making American leadership in financial tech a priority. These bills reflect that vision with clear rules, strong protections, and a real momentum to keep the dollar at the heart of global finance.

Let's make crypto great again.

Mr. Speaker, this week, the House has the ability to advance four pieces of legislation under this rule:

H.R. 1919, the Anti-CBDC Surveillance State Act prohibits the Federal Reserve from issuing a central bank digital currency, CBDC, that undermines Americans' rights to financial privacy.

H.R. 3633, the Digital Asset Market Clarity Act of 2025, also known as the CLARITY Act, establishes clear, functional requirements for digital asset market participants, prioritizing consumer protection while fostering innovation.

S. 1582, the GENIUS Act provides a clear regulatory framework for the issuance of payment stablecoins in the U.S.

H.R. 4016, the Department of Defense Appropriations Act of 2026, provides critical resources to strengthen military readiness, support servicemembers and their families, invest in next-generation defense capabilities, and ensure that the United States can meet global threats with confidence and resolve.

Mr. Speaker, I urge my colleagues to join me in voting ``yes'' on the previous question and ``yes'' on the rule, Mr. Speaker.
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