As one of the 52 million Americans who own digital assets, I’m writing to urge you to advance the CLARITY Act with two critical changes.

First, remove Section 207 — the Trump family exemption.
No president’s family should be exempt from conflict-of-interest disclosure requirements in financial legislation. This is a bipartisan issue. Corruption undermines trust in our financial system, regardless of party.

Second, preserve stablecoin yields offered by third-party platforms.
Congress already made a careful decision in the GENIUS Act: stablecoin issuers cannot pay interest directly, but third-party platforms can offer rewards. This was not a loophole — it was a deliberate policy choice.

Here’s why this matters for everyday Americans, not just crypto holders:

Stablecoins are fully backed. Banks are not.
Stablecoins hold 100% reserves — every dollar is backed by real cash or U.S. Treasury bills. Banks keep only a fraction on hand, lend the rest, pay savers roughly 0.01%, and retain the yield spread.
Stablecoins pass Treasury yields (4–5%) through to users. Prohibiting fully backed, lower-risk alternatives to traditional deposits is not justified on consumer protection grounds.

Competition lowers consumer costs.
When better options exist, banks must compete. Banning stablecoin yields does not protect consumers — it protects incumbent profit margins.

No new systemic risk is introduced.
Stablecoin reserves are already fully backed and segregated. Third-party reward programs do not increase leverage or create the maturity mismatches that define fractional-reserve banking risk. They redistribute existing yield; they do not create new credit.

Changing the rules mid-game destroys trust.
Businesses structured their operations under the current law. Reopening the issue now creates uncertainty, discourages competition, and pushes activity offshore to less regulated markets — weakening, not strengthening, oversight.

I respectfully ask that you:

Protecting ethics and preserving competition is how you protect Americans.

Thank you for your leadership.