Tag Archives: Trevor Dorsey

Congress Should Reject the CLARITY Act

By Trevor Dorsey, Sr. VP Prosperity Bank

America’s strength is more than our military power. It depends on economic leadership, energy security, strong law enforcement, and the ability to cut off hostile regimes from exploiting our systems to undermine our country.

That is why Congress should reject the CLARITY Act in its current form.

By creating broad exemptions and carve-outs for crypto special interests, the legislation would interfere with law enforcement and national security officials’ ability to identify who is moving money, where it is going, and whether it is tied to sanctioned actors. Without strong Know-Your- Customer (KYC) and Anti-Money-Laundering (AML) standards, bad actors in Iran and North Korea can use crypto to fund terrorism, launder money for criminal activity, and undermine our critical defense tools.

The danger is not theoretical.

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Oklahoma Protecting Free Markets

By Trevor Dorsey

Recently, the Oklahoma Supreme Court struck down the Energy Discrimination Elimination Act (EDEA) of 2022 as applied to the Oklahoma Public Employees Retirement System (OPERS) – a ruling that adds to a growing record of Oklahoma prioritizing economic good sense over political convenience.

The EDEA was intended to protect the state’s energy sector, giving the Treasurer’s Office the power to compile a “blacklist” of financial institutions perceived to be boycotting fossil fuels and required public bodies like OPERS to divest from any firm that appeared on it. The Oklahoma Supreme Court’s majority, led by Justice James Edmondson, identified this problem precisely. The EDEA created a “dual purpose” forcing pension managers to serve a political directive alongside their fiduciary duty to members, which the court found irreconcilable with the state’s foundational law.

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