Lucas Looks Forward to Bringing Regulatory Clarity to Digital Asset Arena

Mar 09, 2023

Washington, DC – Today, Congressman Frank Lucas (OK-03) joined his colleagues on the House Financial Services’ Digital Assets, Financial Technology, and Inclusion Subcommittee for a hearing on “Coincidence or Coordinated? The Administration’s Attack on the Digital Asset Ecosystem.” 

Lucas questioned witnesses on the SEC’s regulation by enforcement approach to digital assets and on legislative proposals that grant the CFTC spot market authority for crypto. 

Click here to watch Lucas’ Q&A.

Lucas on the CFTC’s spot-market authority

“Since the CFTC was first established through the Commodity Futures Trading Commission Act of 1974, the Agency has been a principles-based regulator. This flexible, principles-based approach is foundational to the CFTC’s regulatory framework, which enables it to be an innovative and proactive regulator.

“With that said, the jurisdiction for spot-market authority deserves a robust conversation around what is best for investors, consumers, and even the agencies.”


Recent Posts

Jul 18, 2024

Congressman Lucas Welcomes New Field Representative to District Staff

Yukon, OK – Congressman Frank Lucas (OK-03) today announced an addition to his District Office staff following the hiring of Nathan Dethloff as a Field Representative. Originally from Lone Grove, Oklahoma, Nathan graduated in May of 2022 from Oklahoma State University. Most recently, in May of 2024, he earned a Master of Science in Agricultural […]

Jul 10, 2024

Lucas and Chair Powell Agree: Bank Regulators Should Re-propose Basel

Washington, DC – Today, Congressman Lucas and Federal Reserve Chair Jerome Powell discussed the need for a re-proposal of Basel Endgame and plans to address inflation. On a Basel Re-proposal: Lucas: “You have reiterated how Members of the Board would like to see a revised Basel proposal put out for public comment, but you’re working […]

Jul 9, 2024

Secretary Yellen Defers on Basel, Supports Changes to Increase Liquidity in U.S. Treasury Market

Washington, DC – Today, Congressman Lucas followed up with Secretary Yellen on the impact of the Basel Endgame proposal and also potential reforms to increase participation in U.S. Treasury markets. Highlighted Quotes: Lucas: “During our discussion when you were last before the Committee, you largely deferred to the Fed, FDIC, and OCC on the details […]