Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, delivered the following opening statement during a Digital Assets, Financial Technology and Inclusion Subcommittee hearing entitled, “Crypto Crime in Context Part II: Examining Approaches to Combat Illicit Activity.”

It is ironic that Republicans are holding this hearing on crypto crime while simultaneously working to undermine our national security. Instead of bolstering agencies that crack down on crypto crime, extreme MAGA Republicans are working to cut funding for these agencies and put our national security at risk. Just yesterday, Republicans emphasized they do not want to give FinCEN additional resources and authorities, despite requests from Treasury to fill gaps in the law to go after crypto crime.

Committee Democrats, however, are working with the Biden Administration to ensure that crypto companies fully comply with the law. We are also holding those that are not compliant accountable for breaking clear rules of the road.

Thank you Mr. Chairman, I yield back.

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