Rep. Gabe Vasquez Votes to Foster Digital Innovation and Advance Consumer Protections
WASHINGTON, D.C. – On July 17, 2025, U.S. Representative Gabe Vasquez (NM-02) voted in support of two bipartisan bills — the CLARITY Act and the GENIUS Act — marking a critical step forward in the regulation of digital assets, the protection of crypto users, and blockchain innovation.
“These bipartisan bills, while not perfect, add important and much-needed regulation and guardrails to the digital asset industry,” said Vasquez. “We need to continue working to develop clear, commonsense rules that protect consumers, promote innovation, and prevent fraud and money laundering. New Mexicans deserve transparency, accountability, and equal access to new financial tools.”
The CLARITY Act establishes a regulatory framework for digital assets. Under the bill, more established digital assets would be treated like commodities and regulated by the Commodity Futures Trading Commission (CFTC), while newer assets would be treated as securities and regulated by the Securities and Exchange Commission (SEC). This legislation would help prevent fraud, create a more stable market, and ensure all investors are playing by the same rules.
The GENIUS Act establishes the rules of the road for stablecoins: digital assets backed by physical assets like the U.S. dollar which currently lack comprehensive federal regulations to protect consumers. By establishing the first ever guardrails for these assets – holding stablecoin issuers to strict requirements, and instituting strong protections against trafficking – this bill safeguards consumers and strengthens financial security.
“We need to ensure our regulatory frameworks keep pace with innovation, and this is a step in the right direction,” said Vasquez. “I will continue to seek out ways to maximize consumer protections and ethics standards in the cryptocurrency industry.”
Vasquez continues to fight for the economic security of all New Mexicans by holding Big Tech accountable and protecting consumers from digital exploitation.
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