WASHINGTON–House Agriculture Committee Ranking Member David Scott delivered the following statement at today's Joint Hearing entitled "The Future of Digital Assets: Measuring the Regulatory Gaps in the Digital Asset Markets." The Joint Hearing was convened before the Subcommittee on Commodity Markets, Digital Assets, and Rural Development of the Committee on Agriculture and the Subcommittee on Digital Assets, Financial Technology, and Inclusion of the Committee on Financial Services.
[As prepared for delivery]
I am glad to be here today with my colleagues from both the Financial Services and the Agriculture Committees. As a member on both of these Committees, I am happy to see all of us come together for today’s hearing “The Future of Digital Assets: Measuring the Regulatory Gaps in the Digital Asset Markets.”
This is a topic that has been under examination by Congress for some time and I am hopeful that the cooperation demonstrated to get us all here today will result in meaningful policy discussions that make certain participants in these markets are fully aware of any investment risks and are afforded the necessary protections through sound market regulation.
In my tenure on the House Agriculture Committee, I am proud to have served as the Chairman for this subcommittee and have seen the Commodity Futures Trading Commission rise to the challenges presented by the growth of the digital asset industry. Congress must fulfill its role to ensure our federal regulators, like the CFTC, have the funding and authorities necessary to ensure the safe and orderly operation of these markets.
With that I would like to thank our witnesses for agreeing to testify today. I look forward to your testimony and to a robust discussion.
