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Recent Stances On Crypto
Rep. Sylvia Garcia
@RepSylviaGarcia
We finished voting a at about 11:15pEST, voting on several bills including one related to crypto.
BREAKING NEWS: My bipartisan bill just passed the @FinancialCmte. This is a big step toward stopping crypto scams and holding bad actors accountable—while protecting innovation.
Next stop The House Floor! https://t.co/FgXvQQVEBD
Tune in as I speak at @FinancialCmte on the Financial Technology Protect Act, my bipartisan bill that allows innovation in digital assets while keeping bad actors out..
Our Anti-CBDC Surveillance State Act just passed out of the @FinancialCmte!
This is a historic first step to passing this bill through Congress, and defending against the government surveillance state.
Watch my remarks from the debate here:
GOOD NEWS: the STABLE Act passed out of @FinancialCmte!
This bipartisan, commonsense bill would create a policy framework that allows the United States to take advantage of stablecoins, create jobs, & lead in digital ledgers.
Let’s get this done for the American people.
Kudos to @WarrenDavidson for pointing out that the sources of many of the concerns people have about CBDCs are direct statements from central banks.
Central banks have repeatedly and openly said CBDCs would expand surveillance, expand control, replace cash, and much more.
Just NOW: “The purpose of this bill has nothing to do with Donald Trump and Elon Musk, despite the hours of commentary we’ve heard today…”
The true purpose of the STABLE Act is to set up a regulatory framework to ensure transparency and accountability with stablecoins in the digital economy.
Stablecoins are a critical part of the growing digital asset ecosystem. We need rules to protect Jersey families as they invest in digital assets in America — instead of overseas.
I’m helping introduce the STABLE Act to keep innovation in the US and protect American’s digital pocketbooks.
While Republicans rush to pass a bill that'll allow Donald Trump and Elon Musk to take control of your money, @RepMaxineWaters and I are calling on the SEC to investigate Trump's crypto business for conflicts of interest.
Americans deserve better.
reuters.com/sustainability…
Republicans are fast-tracking a stablecoin bill that allows Donald Trump, his family, and Elon Musk to continue to corruptly cash in on shady crypto schemes—all while Trump sits in the Oval Office.
No rules. No accountability. Just profit off the backs of everyday investors and blecoin industry wants legitimacy, there must be real oversight to ensure we protect consumers.
The STABLE Act, led by @RepFrenchHill and @RepBryanSteil, reinforces the U.S. dollar’s status as the world’s reserve currency by ensuring stablecoins operate within a secure, dollar-backed framework, in America. It will make payments faster, cheaper, and more accessible, reducing costs to the benefit of businesses and consumers alike.
President @realDonaldTrump promised to make America the crypto capital of the world, and the STABLE Act is the first step in delivering on that promise.
Congress and regulators should recognize
the unique nature of the innovations stablecoins
provide and establish a regulatory framework that
targets the activity and not the technology. Watch my
remarks on the STABLE Act during today’s
@financialcmte markup below!
Stablecoins can not only help Americans grow their wealth but also promote U.S. values & leadership both here at home & around the world.
I'm proud to join @RepBryanSteil in introducing the STABLE Act to create a framework to help us promote innovation & protect consumers.
NEW: In the House markup of the STABLE Act, @RepStephenLynch says it’s a “certainty” that these stablecoins (referencing the one launched by @worldlibertyfi) are going to “depeg and need a bailout.”
“The American taxpayer will be the ultimate loser here,” he said, adding that Trump will not hesitate to bail out his own family company.
The Trump Administration is providing critical, long overdue leadership on digital assets. Now is the time to foster a U.S.-based digital asset industry, starting with dollar-backed stablecoin issuers based right here in the U.S.
Stablecoins will make all forms of online payments faster, safer, and more affordable for everyday Americans. The key is ensuring they can use them safely and securely, which requires oversight and enforcement to weed out bad actors.
There is no industry in which unregulated foreign products compete on the same shelf space as regulated American products. Digital assets—especially stablecoins which are foundational to all transactions in this new financial ecosystem—should be treated no different. In other words, there should be a level playing field for all market participants. Read my full letter to @POTUS and @SecScottBessent: aciinstitute.org/news/in-letter…
I am happy to support the STABLE Act and continue the @financialcmte work to advance stablecoin regulation that protects a robust state pathway.
My full comments from this morning's @FinancialCmte markup
If we want the dollar to remain the world’s reserve currency, America must lead on Stablecoin.
Watch my remarks from today's @FinancialCmte Markup https://t.co/NOH2J1N2Y2
If we want the dollar to remain the world’s reserve currency, America must lead on Stablecoin.
Watch my remarks from today's @FinancialCmte Markup https://t.co/NOH2J1N2Y2
Rep. Huizenga (R-Mich.) defends the bill's state path framework: "Limiting stablecoin issuance to federally-chartered banks would stifle innovation, would limit the ability of both federal and state authorities to tailor regulations"
WATCH: @RepBryanSteil in support of the STABLE Act:
"We're living in the golden age of digital assets. The rise of blockchain technology and cryptocurrencies has revolutionized our approach to financial systems, payments, investments, and the internet."
https://t.co/WaZclmag3L
This morning, I joined @FoxBusiness Mornings with Maria to break down today’s @FinancialCmte markup. We’re taking key steps to protect financial privacy and ensure stability in digital assets.
The United States is the largest economy in the world and enacting legislation to regulate stablecoins is key to American innovation and will ensure we remain a leader in the digital economy.
youtube.com/live/RqPhSNZZ3…
I loved meeting with @RepBryanSteil today!
My team and I are working hard to make America the bitcoin and digital asset capital of the world, and it starts by passing stablecoin and market structure legislation in the coming months.
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".
For congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121".
This staff accounting bulletin expresses the views of the staff regarding the accounting for obligations to safeguard crypto-assets an entity holds for platform users.
To amend the Federal Reserve Act to prohibit the Federal Reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes.
To prohibit Federal agencies from restricting the use of convertible virtual currency by a person to purchase goods or services for the person's own use, and for other purposes.