For too long, regulatory uncertainty has prevented responsible, yet critical innovation from taking root in the United States. It has been a priority of my chairmanship to reverse this trend. Though temporary, the Innovation Exemption is a principled, structured grant of relief designed to resolve genuine legal uncertainty, while providing investor protections and upholding market integrity standards. Through this order and a number of ongoing initiatives, we will ensure that America remains the world’s premier destination to build the next generation of financial infrastructure.

Selfie from the 5am Acela the first time we went to talk to the SEC about tokenized equities, giving tired-but-filled-with-optimism vibes. Have been waiting for the innovation exemption like Christmas morning, and can’t wait to dig in. The middleman mechanics to transfer equities has been long overdue for an update, and the innovation exemption and other initiatives from the SEC to digitize the securities industry are welcome relief. Grateful to @SECGov and @SECPaulSAtkins for consistently choosing action over inaction.

Just keep shipping. We’re finally getting much-needed clarity on digital asset taxation thanks to bipartisan work on this bill. This is the next step for how we bring the financial system into the 21st century.

The CLARITY Act didn't advance in the Senate today, which was a disappointment. While it's possible bi-partisan conversations continue and it lives to fight another day, we can't wait on Congress anymore. The SEC and CFTC have the tools they need to create clear rules under existing authority, and I expect will begin working on this in earnest. So clarity is coming to crypto regardless. And of course GENIUS is already the law of the land for stablecoins, which is even more permissive on rewards. There were some concessions we made on CLARITY that were tough to swallow, so perhaps it's for the best. Crypto can't be uninvented. With clarity emerging through the regulators, we'll continue updating the financial system.

...Ready for it? Time for rulemaking by agencies. Grateful to proactive @SECPaulSAtkins @ChairmanSelig who have already stepped up to lead and excited for what is yet to come. Back to work.

One of the things I am most proud of is how @coinbase consistently takes the hard path to provide the best products and protections to our customers. Coinbase Tokenized Stocks are a perfect example of this. We took the harder path to provide real deal securities with shareholder rights - to voting, to dividends, to redemption and with prospectuses. These aren't just features, these are rights that will flow through to the end user when they redeem.

Today is the day. Senators, if you care about consumers, combatting fraud and illicit finance, and beating China, you will vote for this bill. Every markup, hearing, vote, meeting, phone call, roundtable, trip to DC, and drafting session over the last 5 years (or 10 for those of who have been on the ground since 2016) has led to this moment. Senators only get one chance to ensure the CLARITY Act lives to fight another day.

Feeling bullish reading @SECPaulSAtkins keynote at @SolanaInstitute's Washington x Wall Street reaffirming the U.S. can and should be the crypto capital of the world. 🇺🇸 He is exactly right. America must lead the world in financial innovation and remain the premier place to build the next generation of financial infrastructure. @SECGov is already playing a major role.

So, the banking lobby's concern is that there's going to be significant bank deposit flight due to stablecoin rewards, but that they won't be able to show that deposit flight with data over the next 18 months...

Could not agree more with @SecScottBessent. After years of hard work, there's now a huge week ahead for Senators to get Clarity over the finish line. America can't afford to fall behind on financial innovation while the rest of the world moves ahead. Excited for this vote!!

Better money is better for everyone, including banks. Excited to see us partner closer with small and community banks as part of our partnership with @Moov. We'll always continue to push for innovation across all of finance.

Bad processes lead to bad outcomes. @BlockchainAssn and @crypto_council are right to seek a preliminary injunction before it does irreparable damage to businesses trying to provide financial opportunity and innovation in Illinois.

Another major institution takes a step forward. The National Sheriffs’ Association has officially dropped its opposition to the CLARITY Act. The more people read the legislation, the clearer it becomes: real rules that protect consumers and strengthen law enforcement.

Using words not in the statute to limit Congress's meaning of swap - strong disagree. "Based on its plain wording" the CEA "preempts state regulation of swaps that are 'traded or executed' on a DCM" - strong agree.