Iowa’s congressional delegation is hailing House passage of bills that establish a new set of federal rules for the cryptocurrency industry.
Congressman Randy Feenstra, a Republican from Hull, said it’s about unlocking potential. “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,” Feenstra said in remarks on the House floor. “However, under President Biden digital assets were attacked, which crushed innovation and created uncertainty for businesses.”
Feenstra said the legislation sets clear roles for federal agencies that regulate digital assets. “President Trump is working to make America the crypto capital of the world,” Feenstra said. “We want digital asset innovation to happen in America and crypto jobs to be created in America, without ceding ground to foreign countries.”
Congressman Zach Nunn, a Republican from Bondurant, said the CLARITY Act ensures it’s U.S. — and not adversaries like China — writing the rules of the road for digital assets.
“This is truly a bipartisan opportunity to help America deliver as a crypto capital for the entire planet,” Nunn said during remarks on the House floor. “…This act, this clarity, is exactly what America needs to drive towards the future, to ensure the next generation, that our innovators come from the U.S. and that we have a future going forward.”
All four Iowa Republicans voted in favor of three crypto-related bills that passed the House late this week. Congresswoman Mariannette Miller-Meeks of Davenport said the bills give “clear rules, protect privacy, and help the U.S. outcompete the Chinese” in digital innovation. Congresswoman Ashley Hinson of Marion said the legislation will “prevent a central bank currency, protecting Americans’ privacy” and will “reinforce American leadership in global finance.”
The bills passed with bipartisan majorities. Two of the three bills had earlier cleared the U.S. Senate.
