Vote Explainer - Crypto Week Bills

On July 17, 2025, the House of Representatives voted on three bills relating to cryptocurrency. I voted for H.R. 3633 (“the CLARITY Act”) and S. 1582 (“the GENIUS Act”), and against H.R. 1919 (the “Anti-CBDC Surveillance State Act.”)

Up until now, the United States has not had a comprehensive federal regulatory structure for the burgeoning field of cryptocurrency. Public interest in these digital assets will only continue to grow, so we should establish rules of the road to make America the leader in digital finance–rather than driving innovators away to China. Any continued lack of comprehensive regulation would only increase systemic risks to our financial markets and to investors. 

The Clarity Act establishes a general regulatory framework for cryptocurrency, while the Genius Act focuses specifically on regulating payment stablecoins. Neither bill is perfect, and I believe the Trump Administration should do more to strengthen oversight of scammers and financial fraudsters who seek to exploit consumers. More importantly, the President should be prohibited from owning or profiting from digital currencies he plays a role in regulating. Given the Administration’s ongoing efforts to weaken the very federal agencies that protect consumers from fraud and abuse, it is essential for Democrats to enact legislation that sets a baseline for consumer protections.

Still, kneejerk partisanship or inaction should not be the response to imperfect bills. I believe that the Clarity Act and the Genius Act will move us in the right direction, away from the unregulated status quo. I voted against the third bill, H.R. 1919, however, because it was just an ideological effort by conservatives to oppose hypothetical action by the Federal Reserve. 

We can and must encourage innovation while safeguarding consumers against fraud and corruption. I will push Congress to continue working on ways to grow our economy and protect consumers.