Today, I introduced the Securities Clarity Act with @RepDarrenSoto. This bill clarifies the regulatory classification of digital assets and provides market certainty for innovators and clear jurisdictional boundaries for regulators.
@RepDarrenSoto Without a distinction between the asset and the securities contract, token projects that raise capital to fund development cannot move out of the securities framework once the project is decentralized, which hinders the utility of the project and ultimately harms token holders.
@GOPMajorityWhip @RepDarrenSoto Lol incredible that anyone trusts you on this topic. You’re bought-and-paid-for by the crypto scamdustry. prospect.org/power/congress…
@GOPMajorityWhip @RepDarrenSoto Thanks for all of your hard work! Hopefully this will not dissappear in to the abyss on the hill. We desperately need some legislation to better define this new asset class and stop the SEC from their reckless behavior, which is sniffling innovation. Keep up the good work!👊
@GOPMajorityWhip @boy_xrp @RepDarrenSoto A step in the right direction.