RELEASE: Friedman Statement on the CLARITY and GENIUS Act 

WASHINGTON, DC — Today, U.S. Congresswoman Laura Friedman (CA-30) released the following statement:   

“I voted no on the CLARITY and GENIUS Acts because Congress had the opportunity to fix important weaknesses in both bills, but Republicans chose not to. I supported amendments to block the President, Vice President, and Members of Congress from engaging in crypto corruption and conflicts of interest; and introduced amendments to block foreign stablecoin issuers from circumventing sanctions by accessing U.S. markets; require stablecoin issuers to meet capital and liquidity standards to properly protect Americans; and crack down on crypto ATM scams targeting seniors. Every one of these commonsense protections was rejected.  

Unfortunately, these bills are now advancing without necessary guardrails to defend consumers, investors, and even our national security.  

California is home to some of the most innovative financial and technology companies in the world, and I support the responsible growth of digital assets and blockchain technology. I'll keep working to ensure this industry thrives in the U.S. by creating clear, enforceable guardrails that protect consumers, promote long-term stability and protect our national security. Since Congress refused to include even the most basic protections like those that I proposed, I could not support this legislation today.” 

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