Mike Kennedy: Cryptocurrency Has Been Left 'Without Direction' For Too Long, Clarity Act Would Help

In House Floor remarks last week, Rep. Mike Kennedy (R-UT) spoke about the Clarity Act.

Transcript

00:00I thank my friend the gentleman from Georgia for this opportunity to speak and

00:03Mr. Speaker I rise today in support of the rule for HR 3633 the Digital Asset

00:08Market Clarity Act of 2025 and HR 1919 the Anti-CBDC Surveillance State Act

00:15together these bills provide much-needed clarity on digital asset

00:19regulation and ensure critical consumer protections so Americans retain their

00:23financial freedom before basketball became the great sport that we know and

00:28love it needed rules without structure the game could not grow and thrive the

00:33same is true for digital assets innovation depends on clear reliable

00:37guardrails for too long this space has been clouded by legal uncertainty and

00:42regulation by enforcement leaving the industry without direction and consumers

00:47without protection the Clarity Act addresses that gap it defines the roles

00:51of the SEC and CFTC establishes clear rules of the road for responsible

00:56innovation and protects the rights of Americans to hold and use their own

01:00digital property at the same time the Anti-CBDC Surveillance State Act which I

01:06co-sponsored defends the foundational principles of financial freedom a

01:10government-run central bank digital currency would allow unelected bureaucrats

01:14to surveil program and ultimately control how Americans spend their money this

01:19legislation protects Americans by ensuring the Fed cannot issue CBDCs to

01:24individuals last year representative Tyler Clancy and I in the state of Utah

01:29passed a law banning CBDC but we all recognize that state laws cannot pertain

01:34or prevail throughout the country this bill allows us to establish security and

01:40protections for the American people all over our country when the Chinese

01:44Communist Party thinks CBDC is a good idea I think that tells us exactly how we

01:49should vote against CBDC these bills promote free market innovation protect

01:54privacy and ensure the next generation of finance is built on American values not

01:58federal overreach I urge my colleagues to support this legislation and Mr.

02:03Speaker I yield back

02:06general from Georgia reserves reserves

02:08general