Blockchain Association Applauds Historic Votes by House Financial Services Committee and House Committee on Agriculture on the Financial Innovation and Technology for the 21st Century Act, Welcomes Continued Congressional Efforts on Digital Asset Regulation

Washington, D.C. (July 27, 2023) – Today, the House Financial Services Committee and House Committee on Agriculture delivered on its promise to move forward smart, effective, bipartisan regulation for the American digital asset ecosystem. 

The following statement is attributed to Blockchain Association CEO Kristin Smith:

“Today is a landmark moment for our industry. Thank you to Chairman McHenry and Chairman Thompson for their leadership on this critical issue and willingness to work with, and accept feedback from, industry and our members. While not yet perfect, we applaud this historic bill and look forward to our continued work with both committees to ensure the United States remains the world-leader in digital asset innovation.”

Additionally, Blockchain Association encourages the House Financial Services Committee to consider the Clarity for Payment Stablecoins Act and the Keep Your Coins Act. 

The Clarity for Payment Stablecoins Act helps ensure the responsible growth of the stablecoin marketplace and protects investors and consumers. Bipartisan support is critical to pave the way for this bill to become law, and we urge members of the committee to vote in favor of this bill.

Congressman Warren Davidson’s Keep Your Coins Act, which affirms an individual’s right to privacy in their financial transactions involving digital assets, is another welcome bill. Removing intermediaries from day-to-day transactions is a hallmark of the digital asset industry – if you remove an individual’s’ ability to self custody, they’re inherently relying on an intermediary and it eliminates the reason for developing digital assets in the first place. We appreciate Congressman Davidson’s commitment to the core principles of digital assets and his long standing support of the industry.

About Blockchain Association: Blockchain Association is the collective voice of the cryptocurrency industry. Our members include the sector’s leading investors, companies, and projects, working together to support a future-forward, pro-innovation national policy and regulatory framework for the crypto economy. Find us at Follow us @BlockchainAssn.