A U.S. House Agriculture committee member says passing the bipartisan CLARITY Act gives her hope for future legislative work in Congress.
Michigan Democrat Kristin McDonald Rivet tells Brownfield, “It was nice to have one of the very first issues that feels like it went straight down the middle, you know, common sense, let’s get something done, and we got it out of the chamber, so I’m really excited about it.”
McDonald Rivet says while the bill is not perfect, it’s a first step for the Securities and Exchange Commission and the Commodity Futures Trading Commission to oversee digital asset markets.
“Right now, when you look at cryptocurrency, stablecoin, there are no guardrails, there’s no regulation, there’s no consumer protection,” she shares. “The CLARITY Act starts down this road of putting some regulatory framework around cryptocurrency.”
Chairman Glenn “GT” Thompson says the bill provides regulatory certainty needed to foster innovation, safeguard consumers, and ensure America leads in the next generation of financial technology.
Thursday, the legislation passed the full U.S. House, and the Senate Banking Committee is expected to take up the measure in the coming weeks.
McDonald Rivet says lawmakers need to continue working together to support the needs of farmers and local communities by passing a farm bill this year.
