Washington, DC (June 4)—Today, Michael Piwowar, Executive Vice President of Finance at the Milken Institute, provided testimony before the US House Committee on Agriculture hearing on American Innovation and the Future of Digital Assets: From Blueprint to a Functional Framework.

The Milken Institute is committed to supporting legislation that will build a workable regulatory framework to bring clarity and confidence to the digital assets market. The Digital Asset Market Clarity Act of 2025 (“CLARITY Act”) crafts a framework that addresses market structure gaps, jurisdictional boundaries, and pathways for responsible innovation, thereby reinforcing the US financial system’s growth, competitiveness, and resilience.

“I commend all the Members of this Committee, working with the US House Committee on Financial Services, as you continue to find bipartisan solutions and build bicameral consensus with the Senate to create a clear and workable regulatory framework for digital assets,” said Piwowar. “As you consider next steps in the legislative process, we look forward to continuing to work on this important issue.”

The Milken Institute’s recommendations are built on principles that champion a comprehensive approach to integrating innovative financial technologies and encouraging the development of capital markets that are accessible to individuals and businesses alike. The Institute has long advocated for the responsible innovation of digital assets, as highlighted by recommendations outlined in our May 2025 and June 2023 comment letters to US House committee leadership, and previous support of the Financial Innovation and Technology for the 21st Century Act (FIT21).

Piwowar’s full written testimony can be viewed here.
 

About the Milken Institute

The Milken Institute is a nonprofit, nonpartisan think tank focused on accelerating measurable progress on the path to a meaningful life. With a focus on financial, physical, mental, and environmental health, we bring together the best ideas and innovative resourcing to develop blueprints for tackling some of our most critical global issues through the lens of what’s pressing now and what’s coming next. 

For more information, visit https://milkeninstitute.org/ 

For Media Inquiries

Chad Clinton
202.262.1067
[email protected]