Rep. Kamlager-Dove Slams 'Clarity Act' as Confusing and Deregulatory

Opposition to the Clarity Act

• ❌ Representative Sydney Kamlager-Dove rises in opposition to the so-called Clarity Act, stating that it does not provide clarity but rather confusion cloaked in legislation.
• 💡 While supporting the growth of digital assets, blockchain innovation, and crypto's potential for financial access, she argues this bill is not the way forward.

Concerns About the Bill's Impact

• 🎯 The bill is criticized for picking winners and losers, with a particular focus on the exemption of the President's office from its rules.
• ⚠️ It is argued that the act undermines the SEC's ability to protect consumers and fast-tracks deregulatory loopholes without addressing core issues.
• 🚫 Key issues like transparency, fraud prevention, and equity and access are not adequately addressed by the bill.

Call for Better Regulation

• 🗣️ The bill is seen as rushed and driven by those who stand to gain the most, ignoring the voices of everyday investors, builders, and communities.
• ⚖️ Kamlager-Dove advocates for comprehensive, thoughtful regulation that is smart, fair, and future-facing, urging colleagues to vote no.