Senator Kim Urges Senate Harness Innovation and Protect National Security in Market Structure Bill

WASHINGTON, D.C. – Today, Senator Andy Kim (D-NJ) released the following statement after voting against advancing the Digital Asset Market Clarity Act out of the Senate Committee on Banking Housing, and Urban Affairs: “I strongly believe in harnessing innovation and opportunity from emerging technologies, and that we don’t have to sacrifice national security needs or ethical standards to do so. I worked for years countering terrorist financing and saw up-close how we can find this important balance. As cartels, state sponsors of terrorism like North Korea, and other terrorist organizations abuse this market to money launder and get around sanctions, it is critical we address the risks they pose to Americans’ economic and national security.” “I put forward provisions to modernize our counter terrorism financing and money laundering controls while also protecting developers, entrepreneurs, and others who are trying to innovate and develop creative new technologies in good faith. The bill voted on fell short of what we’re capable of delivering but I look forward to seeing how it can improve before it comes before the full Senate for a final vote.” ###