Congresswoman Sylvia Garcia Statement on Voting No on Cryptocurrency Bills: CLARITY and GENIUS Acts

MEDIA CONTACT:
Joseph Guzman
joseph.guzman@mail.house.gov

WASHINGTON, D.C. – Today, Congresswoman Sylvia Garcia (D-TX-29) released the following statement after voting no on the CLARITY Act and the GENIUS Act:

“I voted NO on both the CLARITY Act and the GENIUS Act because these bills are nothing more than a license for corruption and a gift to Donald Trump and his crypto cronies. They’re RINOs–Regulation In Name Only. 

“After the 2008 financial crash, Congress stepped in to stop Wall Street from gambling away Americans’ life savings. We promised: never again. And yet, here we are. 

“These bills are packed with loopholes that allow the Felon in the White House and his family to profit in secret, dodge ethics rules, and take money from foreign actors, all while pretending to 'regulate' the crypto industry. They shield Trump’s crypto empire from oversight, exempt shady platforms from anti-money laundering laws, and put investors, consumers, and our national security at risk. 

“In my district, families are already struggling to pay for groceries, health care, and rent. Trump’s Big Ugly Law will only make it worse. And now his allies are handing the crypto industry a blank check—while refusing to do a thing about skyrocketing health care costs or helping make life affordable for working families. That’s why I voted NO and will continue to fight back against Trump’s corrupt agenda with everything I’ve got.”