WASHINGTON – Today, Congressman David Valadao (CA-22) released the following statement after voting for the CLARITY Act, the GENIUS Act, and the Anti-CBDC Surveillance State Act. These bills help regulate digital assets to provide consumers with long-overdue protections while prioritizing the essential right to financial privacy and safeguarding the ability for digital asset developers to innovate within the cryptocurrency space.

“Americans deserve financial privacy, and it’s long past time we put real guardrails in place to protect that right,” said Congressman Valadao. “As more people invest in digital assets, we need a framework in place that encourages innovation, puts consumers first, and keeps the federal government from overreaching into Americans’ personal finances. These bipartisan bills reaffirm our commitment to free markets and individual freedom, and I was proud to support them.”

The CLARITY Act helps create a safer, more predictable environment for companies and consumers who use digital assets like cryptocurrency by:

• Making it easier for businesses that work with digital assets to grow and innovate.
• Giving clear rules to companies that offer cryptocurrency services to everyday customers.
• Protecting consumers by requiring more transparency and responsibility from cryptocurrency firms.
• Defining the roles of crypto regulation for the two major financial regulators—the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)—so they don’t overlap or conflict.
• Setting up a legal process for cryptocurrency companies to register and operate properly in the U.S. 

The GENIUS Act prioritizes consumer protection, fosters innovation, and protects U.S. currency interests by:

• Creating a nationwide system for regulating stablecoins.
• Requiring stablecoins to be backed by safe, reliable assets—mainly U.S. Treasury bonds and U.S. bills—to protect consumers.
• Strengthening the U.S. dollar’s role as the world’s leading currency by increasing demand for U.S. Treasury assets.

The Anti-CBDC Surveillance State Act stops the federal government from creating a digital version of the dollar that could be used to track or control Americans’ personal finances by:

• Blocking the Federal Reserve (Fed) from launching a government-controlled digital currency for everyday Americans.
• Ensuring the Fed can’t act like a big government-run bank that collects your financial data.
• Preventing the government from sneaking around this rule by using third parties.
• Stopping the government from using digital currency to influence interest rates or spending behavior.
• Making clear that Congress—not federal agencies—have the final say on whether a digital dollar is created.

Read the full CLARITY Act bill here.

Read the full GENIUS Act bill here.

Read the full Anti-CBDC Surveillance State Act here.

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