Congressman Lucas Named to Digital Assets & Capital Markets Subcommittees

Jan 27, 2023
Economy
Press

Washington, DC – Congressman Frank Lucas (OK-03) released the following statement today after he was appointed to the House Committee on Financial Services Digital Assets, Financial Technology, and Inclusion Subcommittee, as well as the Subcommittee on Capital Markets:

“I’m excited in the 118th Congress I’ll be returning to the Financial Services’ Capital Markets Subcommittee- and joining the newly created Subcommittee on Digital Assets, Financial Technology, and Inclusion. From protecting consumers from the current Wild West crypto environment with a clear digital assets framework to ending the Biden Administration’s regulation-by-enforcement approach, businesses and consumers deserve a system that protects their hard-earned savings and access to credit,” said Congressman Lucas. “Under the leadership of Chairman McHenry, the Committee will pursue an agenda that strengthens public markets and access to capital and prioritizes the development of pro-innovation rules of the road for the digital asset ecosystem. Oklahoma’s Third District is capital intensive- Oklahoma’s economy is strong and thrives when the United States’ and the global economy are sound and healthy. I look forward to working with Chairman McHenry, my Subcommittee Chairs French Hill and Ann Wagner, and my colleagues on the Committee delivering on our Commitment to America.”

“I congratulate all of our Republican members on their subcommittee assignments for the 118th Congress,” said Chairman McHenry. “With such a competent and dynamic team, Committee Republicans are ready to hit the ground running with our oversight, opportunity, and innovation agenda. As we work to establish clear rules of the road for the evolving digital asset ecosystem, conduct rigorous oversight of the Biden Administration, enhance capital formation opportunities, and end the politicization of our financial system, their expertise and experience will be invaluable. I look forward to working with this talented group.”

Since his election in 1994, Lucas has been a Member of the House Committee on Financial Services, the longest-serving Republican on the Committee. Elected by the House Republican Conference to Chair the House Committee on Science, Space, and Technology, Lucas will also serve on the House Committee on Agriculture. 

As the Tulsa World noted, Lucas will be “a senior member of the majority on two committees with the potential for significant crypto responsibilities.

In December 2022, Lucas joined Bloomberg Crypto to discuss the bipartisan House Financial Services Committee hearing related to the collapse of the digital asset trading platform FTX and the need for a digital asset framework. 

In September 2022, Congressman Lucas introduced the Protect Farmers from the SEC Act, which would have prohibited the U.S. Securities and Exchange Commission (SEC) from requiring an issuer of securities to disclose greenhouse gas emissions (GHG) from upstream and downstream activities in the issuer’s value chain arising from farms and ranches. The legislation received overwhelming support for industry leaders and Members of Congress. Lucas plans to reintroduce the legislation following the rulemaking process.

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