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House Financial Services Committee Chairman French Hill (AR-02) delivered the following statement at today's markup of the CLARITY Act, which would establish a regulatory framework for digital assets in the United States. The Committee is also marking up other bills to support small businesses, provide more oversight over HUD, protect the privacy of homebuyers, and more.

Watch Chairman Hill’s opening remarks here.

Read Chairman Hill's remarks as prepared for delivery.

"Good morning. Today’s markup covers a wide range of bipartisan priorities: leveling the playing field for smaller financial institutions, improving housing, modernizing crowdfunding exemptions, and continuing our work to bring clarity to the digital asset ecosystem.

"Last week, this Committee held a thoughtful and constructive hearing on our digital asset market structure legislation, the CLARITY Act.

"As we all know, for years, the digital asset ecosystem has been plagued by regulatory uncertainty.

"The absence of clear rules of the road has not only stifled innovation but discouraged entrepreneurs and confused investors.

"Digital assets and blockchain technology have the potential to fundamentally reshape how we interact with the internet.

"These innovations can unlock opportunity, empower individuals, and expand access to the financial system, but we need a regulatory framework in place to experience these benefits.

"The CLARITY Act addresses this head-on.

"It draws clear lines between the SEC and CFTC, providing jurisdictional certainty.

"It fosters innovation and protects consumers.

"Today, and moving forward, we have the opportunity to bring long-desired and much-needed clarity to the digital asset market.

"We will also consider bills designed to support small businesses, provide more oversight over HUD, protect the privacy of homebuyers, and much more.

"For example, Representative John Rose’s Homebuyer Privacy Protection Act would protect potential homebuyers from unsolicited sales tactics.

"Representative Monica De La Cruz’s HUD Transparency Act would require the Inspector General at HUD to testify annually before Congress, providing us with much-needed transparency. 

"Representative Dan Meuser’s Amendment for Crowdfunding Enhancement and Small-business Support Act would increase access to capital for small businesses and startups.

"Each bill considered today is aimed at reducing barriers, empowering communities, strengthening accountability, and ultimately will pay dividends for the American people.

"I thank staff and members from both sides of the aisle from both the Financial Services and Agriculture Committees for their time and work to get these bills where they are today.

"I yield back."