Tom Emmer is stepping up to steer the U.S. crypto ship with a compass of American values, aiming to strike a balance between fostering innovation and protecting consumers. As a big-time crypto champion, Emmer has snagged the role of Vice Chair on the House Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence.
This announcement was made by French Hill, the Committee Chairman, as part of the latest subcommittee line-up for the 119th Congress. Emmer couldn't contain his excitement and took to social media, cheekily mentioning that with Trump in the White House and Gary Gensler, the SEC head, out of the way, there's a golden chance to shape the future of digital assets the American way.
Emmer is all geared up to join forces with his fellow lawmakers to craft rules that encourage crypto growth while keeping an eye on consumer safety. The Subcommittee on Digital Assets, created in 2023, is all about keeping the U.S. on top of the tech game, focusing on cryptocurrencies, fintech, and AI in financial services.
Hill emphasized the subcommittee's mission to keep America leading the charge in tech innovation while ensuring consumer protection and keeping regulations in check. Emmer has been a consistent ally of the crypto crowd, opposing tight federal shackles on digital assets and pushing for clear, innovation-friendly laws.
One of his standout moves is the CBDC Anti-Surveillance State Act, which aims to restrict the Federal Reserve from issuing a central bank digital currency without a thumbs-up from Congress. Emmer isn't shy about his disapproval of SEC head Gary Gensler, calling his time in office the “most destructive and lawless” ever.
This crypto shake-up is unfolding as the House and Senate gear up for Donald Trump's inauguration. Rumor has it, according to some reports, that Trump is ready to roll out some crypto executive orders soon after taking office, potentially tackling issues like crypto de-banking and possibly reversing a rule that forces banks to list cryptocurrencies as liabilities.
With the formation of the Senate Banking Committee's first-ever crypto division and Emmer's new role, it looks like the administration is serious about giving the digital asset industry a big boost. These moves are in line with Trump's ambition to crown the U.S. as the global crypto capital. Buckle up, crypto enthusiasts, it looks like an exciting ride ahead!
