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

BREAK IN TRANSCRIPT

Mr. SHERMAN. Mr. Speaker, I worked hard in school, but the grade I am proudest of is getting the first F ever issued by the crypto industry.

This rule prohibits you from considering two amendments that had total support from Democrats and total rejection from Republicans in the Financial Services Committee.

The first prohibits the use of taxpayer money to buy crypto. Trump has already said he wants what he calls a strategic reserve of crypto. If you vote against this rule, you are voting to allow him to buy bitcoin or Trump coin with taxpayer money. That second amendment, also prohibited by this rule, says that taxpayer money will not be used to bail out stablecoin or other crypto assets.

We have already seen dozens of scandals since Sam Bankman-Fried, but now the industry can say we have got total power in Congress. They gave us just a patina of regulation, and if there is ever a problem with your crypto assets, we will get you bailed out.

This rule is incredibly hypocritical. It tells us that we are supposed to be for innovation and blockchain. Then it calls for the prohibition of the Fed having blockchain or any electronic use of the U.S. dollar.

The Constitution says currency is what the U.S. Congress should control, but this bill will say that the dollar must use George Washington technology while China can have a digital yuan and the crypto bros can have hidden digital money.

It is not surprising that President Trump was against crypto until he realized that he could make hundreds of millions for his campaign and billions for his family by signing up with the crypto bros.

This is crypto week. It is also tax evaders month, national drug dealers' day, and human traffickers Tuesday.

Vote ``no'' on this rule. Release the Epstein files. Don't try to distract us and say that the reason we can't protect girls in this country is because --

BREAK IN TRANSCRIPT

Mr. SHERMAN. Mr. Speaker, don't tell us we can't release the Epstein files because you hate Joe Biden or because you hate leftists. People on the right, people in the center, and everyone who wants to protect girls in America says to release the Epstein files now.

BREAK IN TRANSCRIPT

Source