According to BlockBeats, on May 15th, after the "Cryptocurrency Market Structure Act" (the CLARITY Act) officially passed the U.S. Senate Banking Committee, Democratic Senator Brooks spoke in support of the bill's continued progress. He stated: "The digital revolution has arrived, offering clear opportunities to support small businesses, create wealth, and stimulate innovation. The fact is, this digital revolution has arrived whether we regulate it or not, whether we make the rules or not. My 20-year-old daughter and her peers have shown me very clearly that they are passionate about this innovation, they believe the digital revolution is crucial, and they not only want to participate safely but also want access to what every American wants—real and growing economic opportunities, and the opportunity to create intergenerational wealth."
That's why I've been involved in negotiations for over nine months, aiming to protect consumers, reduce the risk of capital flight, and still allow for innovative ways of regulating digital assets. I've negotiated sincerely with my bipartisan colleagues, and I appreciate their hard work. Based on that sincerity, I'm voting today to move the bill forward. But I must make it very clear: my vote today is to continue the work, not to vote for the CLARITY Act in the full House, because we still have a lot of work to do.
I know we need to find a viable way to address law enforcement concerns about financial crime. As a former prosecutor myself, I know how important this is. We also need to incorporate an ethics agreement that applies not only to the president and vice president, but to all of us. The American people, especially my constituents, expect this from us. We also need to work with our colleagues on the House Agriculture Committee regarding their draft bill. There is still much work to be done. I will continue to work with my colleagues to get things done.
Americans of every background and in every community should benefit economically from this digital revolution and be protected from its risks. If we do not act, we will be left behind.
