Digital Asset Market Clarity Act of 2025

Floor Speech

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Mr. GOTTHEIMER. Mr. Speaker, I thank Chairwoman Craig for her excellent leadership.

Mr. Speaker, I rise in support of the bipartisan CLARITY Act. This bill was made possible through a bipartisan effort that I was very proud to help lead with Chairman Hill and Congressman Steil. It is an important one because one-fifth of Americans own crypto. My State, New Jersey, proportionally ranks second nationwide in ownership of cryptocurrency.

While cryptocurrency has tremendous economic potential, we desperately need rules of the road to protect consumers, ensure the success of American entrepreneurs, and ensure that America leads the way, not other nations around the world, but that America leads the way in this growing space.

The CLARITY Act takes commonsense steps to make crypto work for everyday users, including measures to stop snake oil salesmen, fraudsters, and hucksters, and puts the Trump family's coins under regulation.

This legislation supports American-led innovation by encouraging developers and entrepreneurs to build, invest, and create jobs in our country.

Finally, this bill gives clarity to the SEC's and CFTC's roles in crypto to work together efficiently and to crack down on scammers and criminal activity. After years of uncertainty, it finally says who should oversee what, so that people in this space understand the direction it is going in and understand who is going to oversee what, so that consumers can be protected. I can't say that enough.

Do we want this to continue to be the Wild West with uncertainty, or do we want to have clear rules of the road to protect consumers? Do we want to do something or nothing? Is it perfect? As you have heard today, no, it is not perfect. Few pieces of legislation we bring here are.

The questions are: Will it do good? Will it make sure that we look after people who are involved in this space? Will it ensure that America succeeds and grows? Those are the questions.

To do nothing means that we will ensure that Trump's coin has no oversight. Why would we want that? We will ensure that no consumer is protected if we do nothing. We want to protect American consumers. That is our job. This legislation does that.

Mr. Speaker, I urge my colleagues to support this critical commonsense, bipartisan legislation.

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