Congressman Tom Emmer Appointed as Vice Chair of Digital Assets Subcommittee, Promises America Will Guide Crypto Future

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Representative Tom Emmer from Minnesota’s 6th District has been assigned as Vice Chair for the Subcommittee focused on Digital Assets, Financial Technology, and Artificial Intelligence. In a statement released earlier today, Emmer revealed his excitement to collaborate with subcommittee Chairman Bryan Steil in shaping the future of cryptocurrency and AI technologies.

Established in the year 2023, this committee was created to oversee the creation, management, and safety of digital currencies, along with fostering advancements in financial technology. Moreover, its duties involve investigating the use of artificial intelligence within the financial sector as well.

Emmer has had a lengthy political journey, starting with his tenure in the Minnesota House of Representatives from 2004 to 2008, followed by Congress. On January 6, 2015, he commenced his first term in the U.S. House of Representatives and is now serving his fifth term. In addition, he holds the position of House Majority Whip and is a member of the Financial Services Committee.

Beyond this, it’s worth noting that Emmer has been active in the cryptocurrency field, being a part of the FIT21 Bill, which was passed by the House of Representatives in May. This bill, originating from both the House Agriculture Committee and the House Financial Services Committee, aims to clarify the Securities and Exchange Commission’s regulatory roles while enhancing user protections. Furthermore, FIT21 promotes innovation within the crypto sector and cleans up the industry by regulating crypto exchange platforms and combating fraudulent activities.

Emmer Slams Outgoing SEC Chair Gary Gensler

In a recent post, Emmer voiced concerns about Gary Gensler’s term as SEC Chair, arguing it has been harmful for the growth of cryptocurrency in the United States. According to Emmer, this is his stance on the matter.

Now that President Trump is in office, and Gary Gensler has been removed from the political arena in Washington, we have a prime chance to shape the destiny of digital assets according to American principles and ideals.

In the world of cryptocurrency, Gensler is often criticized for his unfriendly stance, with his leadership known for being tough on the industry and filing lawsuits against numerous well-known companies. During his presidential campaign last July, Trump made a statement at a Bitcoin conference in Nashville, expressing his intention to dismiss Gensler. Notably, this statement was met with enthusiastic applause.

As per a formal statement from the SEC, Gensler is stepping down from his role as SEC Chairman on the same day as President Trump’s inauguration, which falls on January 20th. However, in his post on platform X, he did not provide any new details concerning cryptocurrencies.

In May, the House of Representatives approved Emmer’s Anti-Surveillance State Act for CBDC, which prohibits the Federal Reserve from implementing a CBDC that resembles surveillance. In a statement, Emmer highlighted that the bill safeguards us from bureaucrats issuing a tool for financial surveillance, potentially jeopardizing our American values. It’s worth mentioning that Emmer is not entirely opposed to CBDC.

According to this law, the federal administration is allowed to establish a digital form of the U.S. dollar, but only if they receive express approval from Congress…[and]…the digital currency must be transparent, accessible to all without requiring explicit permission, and designed to protect users’ privacy,” he noted.

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2025-01-15 14:45