Sioux City Times

Today, U.S. Representative Randy Feenstra (R-Hull) supported three legislative measures aimed at strengthening American leadership in the digital asset sector and prohibiting the establishment of a central bank digital currency in the United States.

"The increasing adoption of digital assets and the use of blockchain technologies can grow our economy and provide American families with a new opportunity to grow wealth. However, under President Biden, digital assets were attacked, which crushed innovation and created uncertainty for businesses. We want digital asset innovation to happen in America and crypto jobs to be created in America – without ceding ground to foreign countries," stated Rep. Feenstra. "That’s why I voted for three bills to cement American leadership in the digital asset marketplace and to ban the creation of a central bank digital currency in the United States. Under President Trump, we are protecting Americans’ financial security, investing in our economy, and making America the crypto capital of the world."

The Digital Asset Market Clarity (CLARITY) Act aims to define clear roles for regulatory bodies such as the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). It also seeks to enhance consumer protections through increased transparency and accountability within the marketplace, enabling digital asset firms to operate legally with confidence across the nation.

The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act outlines specific guidelines for issuing payment stablecoins that are tied to stable currencies like the U.S. dollar.

Lastly, The Anti-CBDC Surveillance State Act intends to prevent any development of a central bank digital currency within U.S. borders.