2023 has been a year of action and progress in the House Financial Services Committee. Under Republican leadership, we have moved legislation to bolster our capital markets, promote innovation, and hold unelected bureaucrats accountable. 

Here is a quick look back at some key milestones: 

In April, our office passed three bills out of the Financial Services Committee: 

  • The CFPB Dual Mandate and Economic Analysis Act prioritizes competition, consumer choice, and transparency at the Consumer Financial Protection Bureau (CFPB).

  • The CFPB Whistleblower Incentives and Protection Act empowers whistleblowers to expose wrongdoing in the financial industry.

  • The Small Business Entrepreneurs Empowerment and Development (SEED) Act makes it easier for small businesses to access capital, fueling American entrepreneurship.

In July, we helped pave the way for digital asset innovation in the United States with: 

  • The Blockchain Regulatory Certainty Act will streamline money transmission regulations, removing a major roadblock for digital asset innovators. 

  • The Securities Clarity Act (embedded in the FIT for the 21st Century Act) laid the foundation for the Ripple decision, clarifying that a token itself isn’t automatically a securities contract.  

Both bills passed out of the Financial Services Committee and are awaiting a vote in the House of Representatives. 

In September, we took a stand in defense of privacy and individual liberty with the: 

  • CBDC Anti-Surveillance State Act which prohibits the Federal Reserve from issuing a central bank digital currency (CBDC) directly to anyone.

The CBDC Anti-Surveillance State Act passed out of the House Financial Services Committee and is awaiting a vote on the House floor. 

In November, we sent a strong message to Gary Gensler and the SEC:

  • The House of Representatives passed our appropriations amendment barring the SEC from using taxpayer dollars on its crypto enforcement tirade until Congress passes legislation giving the SEC jurisdiction over this budding industry.

And this is just the beginning. In 2024, we will build on this momentum, bringing these reforms to the House floor and delivering real results for the American people. We are committed to fostering a dynamic and transparent financial system that empowers innovators, protects consumers, and fuels economic growth.

Rest assured my friends, a new day is coming.