Does Jeff Hurd Support Crypto?

Bill

GENIUS Act

Details

The GENIUS Act of 2025 proposes a regulatory framework for payment stablecoins. It defines permitted issuers (insured depository institutions, their subsidiaries, and approved nonbank entities) and mandates 1:1 reserve backing with specific high-quality assets. The bill outlines federal and state regulatory oversight options, sets requirements for customer asset segregation, and grants stablecoin holders priority in insolvency proceedings. It also clarifies that regulated payment stablecoins are not considered securities or commodities under various acts. The bill designates issuers as financial institutions under the Bank Secrecy Act, requiring compliance with AML, KYC, and sanctions regulations to prevent illicit finance and safeguard national security. It also reinforces U.S. leadership in digital finance by supporting innovation and ensuring the dollar remains competitive in a rapidly evolving global financial landscape.

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Final Passage Out Of House

Bill

CLARITY Act

Details

The "Digital Asset Market Clarity Act of 2025," or "CLARITY Act of 2025," establishes a regulatory framework for digital commodities, granting the CFTC exclusive jurisdiction over spot market transactions and related entities like exchanges, brokers, and dealers. It aims to differentiate digital commodities from securities, introduce a "mature blockchain system" concept for regulatory exemptions, and protect individual self-custody rights.

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Final Passage Out Of House

Bill

H.J. Res 25

Details

A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Gross Proceeds Reporting by Brokers That Regularly Provide Services Effectuating Digital Asset Sales".

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Final Passage Out Of House

Quoted from jeffhurdforcolorado.com · 2024-10-15

Jeff Hurd's campaign website highlights a specific focus within the 21st CENTURY TECHNOLOGIES AND JOBS section: Jeff believes that new innovations like blockchain technology and cryptocurrency have the potential to radically change our society for the better. We shouldn’t let countries like China leap ahead of American innovators. Legislation like the FIT21 bill (H.R. 4763) represents the kind of bipartisan lawmaking we need to see more of in Washington. In Congress, Jeff will fight to make sure that there are sensible regulations for advancing technologies like cryptocurrency, encouraging the innovation and job growth they bring, all while protecting the public from bad actors.

Quoted from facebook.com · 2024-07-19

Blockchain technology and cryptocurrency have the potential to radically change our society for the better. We can’t let China leap ahead of US innovators. In Congress, I’ll work for sensible regulations that advance cryptocurrency while protecting the public from bad actors. #co03