Beyer Statement On FSC Digital Asset Hearing

Statement

Rep. Don Beyer (D-VA), the Chairman of Congress' Joint Economic Committee and author of the Digital Asset Market Structure and Investor Protection Act today issued the following statement as the House Financial Services Committee held a hearing on digital assets:

"I commend Chair Waters and the House Financial Services Committee for their work on digital assets to explore legislative solutions that promote innovation and growth while protecting consumers. My comprehensive digital asset legislation is an excellent starting point for those efforts. I look forward to continued conversations with Chair Waters and other members of the Committee on how Congress can incorporate digital assets into regulatory frameworks, a need that both industry and regulators emphasize more and more all the time," said Beyer.

Beyer recently chaired a Joint Economic Committee hearing "Demystifying Crypto: Digital Assets and The Role Of Government." The hearing underscored the important point that, while digital assets have great potential, the lack of comprehensive regulation exposes investors and consumers to fraud, hacks, and other illicit activities. Federal regulators have called upon Congress to create better rules to govern digital assets.

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