Today’s vote was a deliberate, calculated betrayal of American innovation, engineered by a DC Democrat cartel led by Elizabeth Warren, doing the bidding of their Wall Street and big-bank bosses. Senate Democrats proved they will burn America’s future to protect the status quo. Their vote against Clarity locks out the builders trying to modernize the U.S. financial system and leaves millions of Americans who actually use this technology unprotected and exposed. For months Republicans negotiated in good faith and addressed every single Democrat demand, while they sabotaged the process at every turn. The only real goal for Chuck Schumer and Senate Democrats was never regulation, never consumer protection, never American competitiveness. It was pure, obsessive Trump-hatred: deny the President a win at any cost. The price of their rabid partisanship is handing U.S. leadership in financial technology to China while stuffing the pockets of the same Wall Street giants they pretend to oppose. DC Democrats would rather play dirty politics than plant the American flag on the frontier of financial innovation. I urge the administration to immediately promulgate rules at the SEC and CFTC to provide the stability and certainty needed so we don’t capitulate to China. This is yet another betrayal of America by DC Democrats.