'See The Bigger Picture': Mike Flood Urges Colleagues To Support Updated Regulations In Clarity Act

In House floor remarks last week, Rep. Mike Flood (R-NE) spoke about the Clarity Act.

Transcript

00:00Nebraska is recognized for one minute. Thank you, Mr. Speaker. Thank you, Mr. Chairman. I'll be

00:04brief. It's been a longer wait than expected, but I am excited that the Clarity Act has finally made

00:10it to the House floor for debate. The Clarity Act is not just about digital assets like Bitcoin.

00:15This bill will usher in a new age of blockchain innovation that will go well beyond the tokens

00:22that we know well today. Chris Dixon's book titled Read, Write, Own talks about a future

00:28where blockchain technology enables a new generation of the internet. He terms Web 3.0.

00:35Technology like NFTs can be used as tickets to events, identity verification tools, and serve

00:42other real-world uses that will change our digital economy. I urge my colleagues to see the bigger

00:47picture. The vote today is not just about cryptocurrency as we know it. It's about enabling the next

00:53generation of innovation enabled by blockchain. This is a good bipartisan product that builds

00:59on the years of work from Chairman Hill and Subcommittee Chairman Stile, the Financial Services

01:04Committee and the Ag Committee. I urge my colleagues to support the bill and yield back.

01:08The gentleman yields back. The gentleman from Arkansas.