Digital assets are quickly emerging as a major way in which we spend money. When it comes to the expansion of digital assets, like cryptocurrency, we must ensure the United States is prepared to address security risks and prevent illicit money laundering while also safeguarding innovation and protecting consumer choice for all Americans.
The first step in keeping our financial systems secure in a rapidly evolving financial technology landscape is by proactively identifying and addressing risks. That’s why I introduced the bipartisan Financial Technology Protection Act, which would ensure the federal government is coordinating with leaders in the digital asset industry to detect, disrupt, and prevent illicit finance in the digital asset space.
I will continue to fight relentlessly to strengthen America’s national security and protect digital assets from abuse. At the same time, I will work to protect the long-term stability of digital assets by encouraging innovation and public-private partnerships.