Guiding and Establishing National Innovation for U.S. Stablecoins Act

Floor Speech

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Mr. VINDMAN. Mr. Speaker, as the vice ranking member of the Commodity Markets, Digital Assets, and Rural Development Subcommittee of the House Committee on Agriculture, I rise today in support of both the CLARITY and GENIUS Acts.

These bills aren't perfect, but digital innovation is critical to our economy, and I support a regulatory framework that protects consumers in the financial system.

However, I am concerned about the ability of certain officials to use these assets for self-enrichment at the highest levels of our government. These bills ensure Members of Congress and many other government officials must abide by ethics rules that we expect from government officials, allowing the industry to innovate as it should. Two individuals are exempted, the President and Vice President.

This is incredibly dangerous, and it undermines confidence in this important industry. It also further degrades the public trust in our government, especially at a time when that trust is already eroded by the President's refusal to release the Epstein files.

We need to take important steps to establish a regulatory framework for digital assets to thrive and to restore public trust. We need action now, and I hope we can close these loopholes.

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