A post from @MattMaasdam referenced Matthew Maasdam
Crypto is already here, and Michiganders are using it every day. Detroit even became the largest city in America to accept cryptocurrency payments for taxes and city fees.
Congress has a responsibility to put clear rules of the road in place: protect consumers, promote ulatory gaps, and make sure innovation stays here in the United States.
The digital asset market is already worth $4 trillion and growing fast. We can’t afford the chaos that comes from politicians asleep at the wheel. It’s time to get serious guardrails in place and get the CLARITY Act over the finish line.
Faryar Shirzad 🛡️
@faryarshirzad
The final rewards text in the CLARITY Act is now public.
We’ve been clear throughout this process: much of this debate was based on imagined risks, not real evidence, nor was it based on a real understanding of how crypto actually works.
Nevertheless, the crypto industry showed up to engage. Through months of meetings, the @WhiteHouse, @USTreasury, @BankingGOP, @SenThomTillis and @Sen_Alsobrooks finally arrived at a compromise.
In the end, the banks were able to get more restrictions on rewards, but we protected what matters – the ability for Americans to earn rewards, based on real usage of crypto platforms and networks. We also ensured the US can be at the forefront of the financial system – which in this competitive geopolitical era is paramount.
That’s important for innovation, consumers and America's national security.
Now that this issue is behind us, it’s time to focus on the broader bill. While this debate has been underway, lots of progress has been made on other areas like token classification, defi, and tokenization. We’re excited to review the full, final text, and for the bill to move forward.
It’s time to get CLARITY done.