Statement: Statement for the Record in Response to House Financial Services Committee Recent Hearing on Digital Assets

Americans for Financial Reform submitted a statement for the record to the House Financial Services Committee in response to the Committee’s June 13 hearing on digital assets, entitled, “The Future of Digital Assets: Providing Clarity for the Digital Asset Ecosystem.” The statement was co-authored with Lee Reiners, Lecturing Fellow, Duke Financial Economics Center, Duke University, and Hilary Allen, Professor of Law, American University Washington College of Law. In the statement, we outline concerns with and expression opposition to draft legislation meant to provide a new framework for regulation of crypto assets and actors, which the authors fear would harm consumer and investor protection frameworks for both crypto and non-crypto investors.