Democrats killed the Clarity Act

Democrats just blew another opportunity to put money in the pockets of Americans. Digital assets offer real promise. They can lower costs, move money faster, and help small businesses grow. But we need clear guardrails in place to prevent customers and investors from being taken advantage of.

My Republican colleagues and I, along with Democrats, spent more than a year negotiating this legislation. Our final proposal included over 120 changes Democrats requested, yet they still said no.

Expanded ethics provisions. Got it done. Ethics provisions relating to President Trump. Got it done. Ethics rules covering elected officials and their spouses. Got it done. A meaningful role for state attorneys general in enforcement. Got it done. Additional money laundering tools for law enforcement. Got it done.

Each time Republicans met Democrats' demands, they moved the goalposts. No amount of good-faith negotiating would satisfy Democrats playing politics with our country’s financial future.

At least 12 Senate Democrats claimed they wanted to make a deal. But lip service is different than delivering results. When the vote came, not one Senate Democrat voted to move the bill forward.

At its core, the Clarity Act would protect everyday Americans, safeguard their hard-earned money, give entrepreneurs a fair shot, and make it harder for criminals and foreign adversaries to abuse our financial system.