The United States is on the edge of a new technological border – one powered by blockchain and digital assets. These possessions are not only the next stage of the Internet, but are putting the foundation for a safer, decentralized, and financial future. From re -adjusting the global payment to protecting data privacy, the potential of blockchain -based systems is endless.
Despite the promise of this technology, the United States remains without a clear, comprehensive framework of federal regulation for digital ownership. This disadvantage has created uncertainty for changing, consumers and investors alike.
Traders operating in the digital asset operating in the digital asset space are faced with unclear policies and unclear jurisdiction boundaries between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Investors lack the transparency and protection they deserve. Under the Biden administration, the SEC chose to regulate through implementation, rather than by clear guidance or cooperation. The agency’s approach has led to demands, confusion, and the offshoring of the promise of American companies seeking assurance of overseas regulation.
For many years, Congress has worked under both the Republican and Democratic leadership to close this space and created an adjusted, modern framework of regulation. That work reached a milestone in May 2024 when the US House of Representative Innovation and Technology passed for the 21st century (Fit21) Act with Bipartisan support as 71 Democrats voted in favor of the bill. Fit21 has put the basis for how digital assets under US law should be treated, clarified CFTC and SEC duties, and provided paths for registration, disclosure, and compliance.
This Congress, we build that momentum and continue to push for smart, specialized policies that promote change while protecting consumers.
In April, the House Financial Services Committee BIPARTISAN STABLE ACT PASSED.
Yesterday, we took another key step forward. The Financial Service Committee and Home Agriculture Committee has passed the Law of EnlightenmentA Landmark Bipartisan Bill carefully made between our committees. The Varity Act establishes a functional framework for classification of digital assets, provides builders and companies with clear regulation obligations, and ensures stable consumer protection against fraud and bad actors.
The stable and clarity acts formed the most comprehensive framework of digital regulation of the Digital Possession. Together, the bills will ensure that the United States sets a global standard for the future of digital property.
We are committed to working with our colleagues in the same room to make comprehensive law of digital assets in law. The rest of the world is not waiting to rule the blockchain change. If we do not act, we endanger the leadership of CEDING with one of the most changing technologies in modern history.
Congress has the opportunity and responsibility to establish a regulatory framework that opens the next American modern season. It is time for the United States to lead the new digital border.
