“As we innovate, we should not exploit and leave communities behind, and we should not let Trump continue to make money and put our economy at risk by changing or not enforcing the laws created to protect consumers.”

Video (YouTube)

WASHINGTON – Yesterday, in a Financial Services Committee hearing on tokens and digital assets, Congresswoman Ayanna Pressley (MA-07) discussed the need for strong digital finance regulations that protect consumers, not harm them or allow the wealthy and well-connected like Donald Trump to enrich themselves at the expense of everyday working people.

A transcript of the Congresswoman’s exchange with witnesses today is available below, and the video is available here.

Transcript: Pressley Demands Consumer Protections in Digital Finance, Condemns Trump Profiteering

House Financial Services Committee

March 25, 2026

REP. PRESSLEY: We’re talking today about tokens and digital assets and I just want to, for those watching at home, just really center the American public and my constituents of the Massachusetts 7th. 

It seems everything and everyone is being attacked, except for affordability, and people are really struggling. 

They are struggling to pay for their rent, groceries, gas and medical bills. They are exhausted by the constant chaos coming out of this White House and Donald Trump and his co-conspirators are making millions at the expense of everyday working people. 

Trump and Republicans in Congress are continuing to try and weaken the SEC and make it harder for them to protect investors and consumers. 

Mr. Banaei, you worked at the SEC and CFTC, and now you work in digital finance. Previously, you mentioned that you think regulators could have played more of a role in shaping these emerging technologies years ago. Can you just expound and elaborate on how the SEC, the Securities and Exchange Commission, could have exercised oversight of these technologies and protect consumers?

MR. BANAEI: The same decisions that the current SEC is thinking about, you know, could have also been, those authorities could have been exercised under the last administration. A different strategy was undertaken, and we could talk about it sometime. But I think the hardest thing for the SEC to do right now is, for example, looking at the whole myriad rules under reg NMS, including the order protection rule, which was mentioned earlier, and conducting industry outreach and roundtables in order to try to understand how we can bridge the gap between, for example, the public price feed, the securities information processor, the SIP, and on chain-based trading, for example, integrating data both on chain and off chain through connectivity between the SIP and US regulated liquidity pools. These are all issues that can be surmounted, but it requires extensive fact finding, and I would encourage this SEC to engage in that fact finding alongside the other efforts it’s doing. Otherwise it’s going to lead to the same lack of progress. Thank you.

REP. PRESSLEY: Thank you, Mr. Banaei. Mr. Zecca, I’m interested in NASDAQ’s approach to tokenization as a way that empowers shareholders to hold companies accountable. Are you working with consumer groups and advocacy organizations or other stakeholders on that goal, and how can interested parties like myself be involved?

MR. ZECCA: Well, thank you for the question. You know we’re not directly in touch because we’re sort of with the exchange. We’re not with the end customer. I do know that there are intermediaries who do speak to various groups, and we’re happy to demo our technology for anyone.

REP. PRESSLEY: Okay, alright. Well, I’m gonna take you up on that. Mr. Zecca, on the record, would you commit to working with my office as we move forward in that process? 

And I just really do believe, as we innovate, that we have to have advocates and impacted consumers. They should be at the table. Okay, will you commit to that? 

MR. ZECCA: Yes, happy, to work with you. 

REP. PRESSLEY: Okay, excellent. All right, Mr. Bentsen, as a former member of Congress, I know you understand the importance of the public trust. Do you agree that there should be laws around digital assets so members of Congress or the president, for example, cannot unjustly enrich themselves or abuse their position. My time is short, yes or no?

MR. BENTSEN: Yes, we’re on record saying Congress should write rules around digital assets that are not securities.

REP. PRESSLEY: Okay, alright. For the record, I’m certainly not against innovation. I have introduced legislation to advance financial technology in a way to protect consumers, not harm them, evade the law, or enrich the pockets of the already wealthy and well-connected.

As we innovate, we should not exploit and leave communities behind, and we should not let Trump continue to make money and put our economy at risk by changing or not enforcing the laws created to protect consumers. 

Thank you and I yield back.

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