SAB 121 House Joint Resolution
This bill is very pro-crypto.
cosponsored
Tom Emmer Jr.
Republican Congressperson from Minnesota, 6
Notable statements
Uniform Treatment of Custodial Assets Act
This bill is very pro-crypto.
cosponsored
CBDC Anti-Surveillance State Act
This bill is somewhat pro-crypto.
sponsored
FIT21
This bill is very pro-crypto.
cosponsored
Digital Commodity Exchange Act of 2022
This bill is very pro-crypto.
cosponsored
Tom Emmer Jr.
@GOPMajorityWhip
From persecution to prosperity, the United States WILL be the crypto capital of the world. x.com/eleanorterrett…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
.@POTUS understands the dangers CBDCs present.
Now, we need to codify this in law by passing our CBDC Anti-Surveillance State Act to ensure future, power-hungry bureaucrats cannot undo his executive order. pic.x.com/rN6CPzwbhj
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
President @realDonaldTrump’s nominee for Treasury Secretary, Scott Bessent: “On CBDC’s, I see no reason for the U.S. to have a central bank digital currency.”
Agreed. Now let's make sure it's in law. pic.x.com/HaVD9Wjlkc
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
I am honored to have been selected as Vice Chairman of the Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence.
With President Trump in the White House, and Gary Gensler confined to the waste bin of Washington, we have an excellent opportunity to ensure that the future of digital assets is guided by Americans, with American values.
I look forward to working with Chairman @RepFrenchHill, Chairman @RepBryanSteil and the rest of our colleagues to foster an environment where digital asset innovation can thrive.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @BlockchainAssn: 4/ We were honored to present BA’s Crypto Champion Award to @GOPMajorityWhip at our annual gala. Watch the award presen…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
President @realDonaldTrump’s choice of @DavidSacks as White House AI & Crypto Czar is a huge win for American investors and innovation.
Congratulations, David, we look forward to working with you!
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @jerrybrito: This is why we must make sure that any crypto legislation next Congress must include @GOPMajorityWhip’s Blockchain Regulato…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The American people gave President Trump and Congress a mandate.
We will prevent the creation of a CBDC, give American entrepreneurs the clarity they need to grow, and dismantle the Administrative State that has stalled innovation.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Gruenberg got fired the moment 76 million Americans voted to send President Trump back to the White House and end the Biden-Harris administration’s war on crypto once and for all.
politico.com/newsletters/mo…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Happy 16th Anniversary to Satoshi’s Bitcoin White Paper!
I am confident that Bitcoin and digital assets have a bright future here in the United States.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Kamala Harris’ ignorance is on full display.
Crypto is for ALL Americans. pic.x.com/iALAj7grp2
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
REMINDER: A CBDC would give unelected bureaucrats in D.C. the ability to monitor and restrict Americans’ *individual purchases*.
Our CBDC Anti-Surveillance State Act prevents this and defends against the ever-expanding government surveillance state. x.com/FinancialCmte/…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @BlockchainAssn: Live from #Mainnet2024, @KMSmithDC and @GOPMajorityWhip discuss the crypto voter and the bipartisan case for Congressio…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
What @GaryGensler doesn’t understand is fighting against crypto innovation in America isn’t going to put a stop to it… he is only going to push crypto innovation off American soil.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Problem 5. NO ONE in Gensler’s leadership has been fired for this absolutely disgraceful situation against a digital asset firm.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
If @GaryGensler’s mouth is moving, he is likely lying.
In 2021, Gensler came to the @FinancialCmte and told us he doesn’t believe he has the authority to regulate and police the digital asset industry.
That was clearly a lie. x.com/GOPMajorityWhi…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Then he invented the term “crypto asset security” out of thin air.
This term does not exist in statute and has not been defined anywhere, including within the SEC.
Gensler just made it up and then used it as the basis for his entire “regulation by enforcement” strategy.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
That was @SECGov’s bread and butter until recently when the SEC admitted regret for confusing the marketplace with its use of Gensler’s made-up term “crypto asset security,” even though that is EXACTLY what Gensler tried and failed to establish many times.
The SEC lies again.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
America is ready for its first Crypto President. x.com/WatcherGuru/st…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
.@JoeRogan is right — a central bank digital currency is terrifying.
That's why we led the CBDC Anti-Surveillance State Act to prevent the Fed from ever issuing one.
The House passed our bill earlier this year. The Senate should follow suit. pic.x.com/uMEw0ZLJs7
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
We need to draw our government back and let people take chances.
Grateful for the opportunity to discuss the future of digital asset policy on the @P2PPolicyPod this morning. pic.x.com/6GCX2UT6xK
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
If history is any guide, Kamala Harris will throw her political weight behind an Elizabeth-Warren-style approach to digital assets.
She was widely known as the most liberal member of the United States Senate before the media started running cover for her.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The nexus between AI and digital assets seems necessary and inevitable.
The convergence of blockchain and AI can not only improve the trustworthiness of data, but the decentralization of AI data can mitigate single-point-of-failure security issues.
theblock.co/post/307031/di…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Artificial intelligence and digital assets are leading us toward a powerful global digital economy.
As AI continues to be integrated into our lives, blockchain technology will play an important role in ensuring that AI data is authentic, immutable, traceable, and transparent. pic.x.com/XRJBBJSaAe
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Great to see the @SECgov adjust course and allow ETH Spot ETFs to begin trading today.
On second thought, we should actually be thanking the courts. Gary Gensler has got to go.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Weeding out bad actors on chain requires a clear understanding of their goals.
Proud to support @ZachNunn’s Financial Technology Protection Act to create a working group to help drill down on potentially illicit uses of digital assets and find strategies to prevent it.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
If I had to create a tagline for the Biden administration’s digital assets agenda, it would be:
The administrative state OVER the American people.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The Biden Administration has proven that they are eager to trade Americans' financial privacy for a big government, communist-style CBDC.
The House has taken action to prevent this. It is time for the Senate to do the same.
thehill.com/opinion/472465…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Unelected bureaucrats in Washington D.C. should NOT be able to tell you what you can and can’t do with your money.
The time for crypto-friendly, stablecoin-friendly, digital asset-friendly legislation is here.
semafor.com/article/06/05/…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Crypto is not bipartisan, it’s nonpartisan. We need to ensure it stays that way. pic.x.com/gGYxJeJbA9
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The idea of a central bank digital currency is more than alarming, it is downright un-American.
I thank my colleagues who helped pass our CBDC Anti-Surveillance State Act this week. Digital currency policy must remain in the hands of the American people.
foxbusiness.com/politics/house…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Secretary Yellen is being dishonest when she says the Biden administration hasn't taken a position on central bank digital currencies.
This administration has made CLEAR they're willing to trade American’s right to financial privacy for a surveillance-style CBDC. pic.x.com/ANChvqG5nY
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
"By barring the Federal Reserve from issuing a U.S. CBDC to consumers, the CBDC Anti-Surveillance State Act would avoid the unnecessary risks to consumers and small businesses that a U.S. CBDC would pose. We thank Rep. Emmer for introducing this important legislation..." - @ICBA
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Today, my CBDC Anti-Surveillance State Act will receive a vote in the House of Representatives.
See my remarks during the debate of the legislation below: pic.x.com/tyCTgZIP30
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
"We support the CBDC Anti-Surveillance State Act – legislation aimed at preventing a CBDC from being issued in the United States. Blockchain Association thanks Majority Whip Emmer for his continued leadership on this critical issue." - @BlockchainAssn
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
"...creation of a CBDC represents a massive expansion of government control over the economy, and it would trample on individuals’ rights...It is for these reasons we urge you to support…H.R. 5403, the CBDC Anti-Surveillance State Act." - @AFPhq
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @RepStefanik: House Republicans are defending Americans’ financial privacy with H.R. 5403, the CBDC Anti-Surveillance State Act.
I’m pr…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
BREAKING: The House of Representatives just passed our CBDC Anti-Surveillance State Act.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
"ALEC Action urges strong support for H.R. 5403, which would protect American citizens from the significant privacy and surveillance concerns inherent to central bank digital currencies (CBDCs)." - @ALEC_Action
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
"The CBDC Anti-Surveillance State Act is also necessary legislation. CBDCs not only crowd out private cryptocurrencies, but they are also an existential threat to consumer privacy protections." - @taxreformer, along with a coalition of conservative organizations
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
"Greater financial inclusion and fairness can be achieved without sacrificing citizens' privacy. The CBDC Anti-Surveillance State Act is an important first step towards restoring that privacy..." - @Restore_the4th
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @RepJeffDuncan: This week, the House will vote on HR 5043 the CBDC Anti-Surveillance State Act which prohibits a central bank digital cu…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
"We must never emulate the Chinese Communist Party’s social credit system, which they weaponize to punish citizens who disagree with the government by cutting them off from the economy. The CBDC Anti-Surveillance State Act would stop this dangerous behavior." - @A1Policy
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
"ABA believes strongly that a CBDC...is unnecessary in the United States and would present unacceptable risks and costs to the financial system...the ABA welcomes and strongly supports H.R. 5403, the CBDC Anti-Surveillance State Act..." - @ABABankers
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
"Heritage Action supports the CBDC Anti-Surveillance State Act and will include COSPONSORSHIP of this legislation on our legislative scorecard…The CBDC Anti-Surveillance State Act protects individual liberty and prevents threats of government coercion..." - @Heritage_Action
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The House is getting ready to vote on my CBDC Anti-Surveillance State Act.
We’ll be one step closer to ensuring unelected bureaucrats are NEVER allowed to trade Americans' financial privacy for a surveillance-style CBDC.
Here’s what key stakeholders are saying about our bill:
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The Biden Administration has proven they are itching to trade Americans’ right to privacy for a CCP-style CBDC surveillance tool.
The @HouseGOP is not going to let that happen. pic.x.com/3QEoNbCSgO
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @Heritage_Action: The CBDC Anti-Surveillance State Act will safeguard Americans' financial privacy in the face of potential surveillance…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @RepMaxMiller: This week I look forward to supporting @GOPMajorityWhip's CBDC Anti-Surveillance State Act to keep government in check.…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
A central bank digital currency would give unelected bureaucrats in D.C. the ability to monitor and restrict the American people's *individual purchases*.
Our CBDC Anti-Surveillance State Act prevents this and defends against the ever-expanding government surveillance state. pic.x.com/T58C3xWSWU
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @club4growth: 
Key Vote Alert! We're urging all Representatives to vote yes on the #CBDC Anti-Surveillance State Act. The creation of a…
Key Vote Alert! We're urging all Representatives to vote yes on the #CBDC Anti-Surveillance State Act. The creation of a…Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @PatrickMcHenry: This week, the House is taking a monumental step towards providing regulatory clarity for the U.S. digital asset ecosys…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @rep_stevewomack: CBDCs are a CCP-style surveillance tool that can be weaponized to oppress the American way of life.
I'm a proud cospo…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
We don’t make trade-offs with American’s rights.
This week, we will pass our CBDC Anti-Surveillance State Act to prohibit unelected bureaucrats at the Fed from stripping the American people of their right to financial privacy.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @RepFeenstra: I'm a proud supporter of @GOPMajorityWhip's CBDC Anti-Surveillance State Act.
We do not need a central bank digital curre…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The idea of a central bank digital currency is more than alarming, it is down-right un-American.
This week, the @HouseGOP will uphold the American values of privacy, individual sovereignty, and free-market competitiveness by passing my CBDC Anti-Surveillance State Act.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Any central bank digital currency that is not open, permissionless, and private-like cash-is nothing more than a big government surveillance tool.
This week, the @HouseGOP will take action to prevent the Fed from ever issuing one by passing our CBDC Anti-Surveillance State Act. pic.x.com/d55gwBOAUz
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @RepMarkGreen: This week, I will be voting in favor of the CBDC Anti-Surveillance State Act—a bill to ensure the Fed cannot create CBDCs…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @FinancialCmte: This week, @HouseGOP will take action to protect consumers and foster innovation with two landmark digital asset bills,…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Crypto has shifted economic power from centralized institutions back into the hands of the people.
The CBDC Anti-Surveillance State Act, the Securities Clarity Act, and FIT21 will provide the regulatory certainty needed to ensure that web3 is designed with our American values.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
This week, the House will take up two of my landmark pieces of legislation.
-The CBDC Anti-Surveillance State Act
-The Securities Clarity Act
These bills will ensure the future of crypto is determined by the American people – not @POTUS and the Administrative State.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Crypto is in the middle of a policy tug-of-war between the Administrative State and the American people.
Congress just passed the SAB 121 repeal on a bipartisan basis.
If Biden vetoes, it proves he wants to kill opportunities for Americans at the expense of Americans.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Digital asset innovation is a nonpartisan issue and we must work that way in Congress to ensure the digital asset ecosystem can thrive here in the United States.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Today, we will vote to overturn @GaryGensler’s illegal SAB 121 rule.
This rule prevents banks from safeguarding digital assets for their customers, which only increases concentration risk in our market and puts American digital asset holders in a vulnerable position.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
These Wells notices seem to be Gary Gensler's desperate, last-ditch attempts to intimidate and antagonize digital asset innovators. x.com/TheBlock__/sta…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @FinancialCmte: Classifying #ETH as a security contradicts previous statements of the SEC and Chair Gensler.
Republicans will continue…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @RepBurgessOwens: The Fed needs to keep its hands out of our wallets. I'm proud to join @GOPMajorityWhip Tom Emmer's CBDC Anti-Surveilla…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The @SECGov deserves more funding for crypto enforcement.
April Fools!
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The SEC and the CFTC have an extensive record asserting that Ethereum is NOT a security. So why does Prometheum, an SEC-registered broker-dealer, plan to custody ETH?
I led a letter with @FinancialCmte and my colleagues to @GaryGensler to get some answers. x.com/FinancialCmte/…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Banks are the backbone of our free market system and keep Main Street alive.
A CBDC would only centralize power and compromise Americans’ right to privacy.
bankingjournal.aba.com/2024/03/rep-em…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The Biden administration sees it as their "key duty" to abandon our core American values and create a surveillance-style CBDC.
Let me be clear:
A government tool for financial surveillance will NOT happen so long as House Republicans are in the majority.
decrypt.co/221752/federal…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @RepDonaldsPress: CBDC would give the federal government absolute control over your money.
This is a dangerous threat to freedom.
It i…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
If you don’t think the Fed is pursuing a CBDC, think again.
The Fed gave this to my staff during a presentation earlier this Congress. They view a CBDC as one of their KEY DUTIES. pic.x.com/0LcdWBKk58
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
“CBDCs present major privacy concerns for everyday Americans, including granting the government the ability to collect intimate personal details on U.S. citizens, and potentially track and freeze funds for any reason.” -@BlockchainAssn
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
My bill, the CBDC Anti-Surveillance State Act, garnered significant momentum this week:
- 120 cosponsors
- Broad coalition support
- Reintroduction of @SenTedCruz's Senate companion
Here's what stakeholders are saying about this important legislation:
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
“ABA has long believed that a CBDC would pose significant risks to our financial system that would outweigh any potential benefits, including undermining the critical role that banks play in extending credit and powering the economy.” -@ABABankers
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
"By barring the Federal Reserve from issuing a U.S. CBDC to consumers, the CBDC Anti-Surveillance State Act would avoid the unnecessary risks to consumers and small businesses that a U.S. CBDC would pose." -@ICBA
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
"The CBDC Anti-Surveillance State Act is a momentous step that would clarify and reassert that only Congress can authorize and regulate forms of exchange." -@A1Policy
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
"The creation of a U.S. CBDC would threaten the financial health of the country and the constitutional rights of law-abiding Americans." -@club4growth
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
"Anti-CBDC legislation is necessary to safeguard Americans' financial privacy in the face of potential surveillance, control, and political intimidation... We will be issuing a Key Vote Cosponsorship in support of Whip Emmer and Senator Cruz’s bill..." -@Heritage_Action
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The OMB cannot abuse its “emergency” authorities to allow agencies like the EIA to ridiculously claim bitcoin miners are a threat to public safety and subject this industry to new, unvetted rules and regulations.
It’s an abuse of power and it ends here. x.com/EleanorTerrett…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @RepDanBishop: CBDCs are a direct threat to every freedom we hold dear.
If this tyranny is allowed to take hold in America, a Chinese-…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Any CBDC that is not open, permissionless, and private – like cash – is a surveillance tool that will be mobilized to oppress the American way of life.
I am proud to have @SenTedCruz lead the Senate companion of our CBDC Anti-Surveillance State Act. x.com/SenTedCruz/sta…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @BlockchainAssn: 1/ CBDCs present major privacy concerns for everyday Americans, including granting the government the ability to collec…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Great news! The Energy Information Administration is backing down on its “emergency” demand for Bitcoin miners to share proprietary information.
We rejected this administration’s abuse of emergency authority, and common sense prevailed.
Background: foxbusiness.com/politics/top-h…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Bitcoin mining is not a threat to public safety. Period.
The OMB's abuse of its emergency powers to attack Bitcoin miners demands an explanation.
Read my letter to the OMB below.
foxbusiness.com/politics/top-h…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Senators are writing legislation based on the Wall Street Journal's inaccurate reporting. Since Treasury has accurate data, it has an obligation to correct the record on the size of Hamas's digital asset fundraising efforts.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Today, I asked Treasury's Head of FinCEN and OFAC about the WSJ's reporting on Hamas's digital asset fundraising campaign.
Undersecretary Nelson CONFIRMED, on the record, that the WSJ's numbers were inaccurate and that crypto was not even a popular tool for Hamas terrorists. pic.x.com/Y2nSJfe3Lk
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
I agree with President Trump; CBDCs pose a serious threat to Americans' right to financial privacy.
I look forward to working with him as we continue the fight against the expanding government surveillance state.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Congressional Republicans have been fighting against the implementation of a surveillance-style CBDC.
My bill, the CBDC Anti-Surveillance State Act, has 75 cosponsors and we are continuing to build support.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The FSOC hides in a black box, shielded from Congressional oversight. It designates industries as “systemically risky,” and has been weaponized to wield that power to carry out political agendas rather than protect the market at large.
Case in point: digital assets.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
In 2022. the White House threatened to unleash the FSOC on the digital assets industry unless Congress enacted the White House’s preferred, explicitly anti-crypto, legislation.
This is unacceptable.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Navigating Gary Gensler’s regulatory approach to digital assets is like playing hopscotch in a minefield. Blindfolded.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
My bill to protect Americans’ right to financial privacy, the CBDC Anti-Surveillance State Act, is up to 75 cosponsors, and we will keep growing support.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Digital assets aren’t the enemy. They are a tool for trust, transparency, and individual liberty.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
In July, we passed the Blockchain Regulatory Certainty Act out of Committee to streamline one of the largest barriers to entry in the digital asset space: money transmission regulation.
x.com/GOPMajorityWhi…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Without opposition, in November the House passed my appropriations amendment barring the SEC from using taxpayer dollars on its abusive crypto enforcement tirade until Congress passes legislation giving the SEC jurisdiction over this industry.
x.com/GOPMajorityWhi…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
In September, my CBDC Anti-Surveillance State Act passed out of the @FinancialCmte.
This is a historic step in defense against the ever-expanding government surveillance apparatus. The bill is cosponsored by 75 Members of Congress.
x.com/GOPMajorityWhi…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @blockchaintpsht: .@MajorityWhipGOP Tom Emmer spoke to blockchain tipsheet yesterday about the state of digital assets legislation in Co…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @BlockchainAssn: 1/ “I make it clear everywhere I go, it’s not Republicans vs. Democrats on crypto…the industry you’re in is a non-parti…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
In case you missed it…
Last week, I joined @ThinkingCrypto1 to discuss how Congress can provide clear rules of the road to bring the industry back onshore and hold unelected bureaucrats like @GaryGensler accountable for abusing SEC enforcement powers. x.com/ThinkingCrypto…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Congressional resources should instead be spent working to bring more crypto activity and opportunities onshore to bolster U.S. national security.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Congress does not need to rewrite laws that work in the crypto space. Yesterday’s successful prosecution shows that when enforced, current laws are suitable to help weed out bad actors.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
I, along with @PatrickMcHenry, @RitchieTorres, and @RepFrenchHill, led a bipartisan letter requesting the Biden administration utilize the open blockchain ledger to assess the footprint of Hamas’s digital asset fundraising campaign. foxnews.com/politics/bipar…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Answers to our inquiry will help Congress understand the size, scope, and duration of Hamas's digital asset fundraising campaign and the United States' ability to target bad actors while supporting legitimate digital asset use. pic.x.com/l0CkShJseD
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
.@GaryGensler is as ineffective as he is incompetent. Fortunately, my nonpartisan appropriations amendment to reign in SEC enforcement abuses against the digital asset industry passed the House today with no opposition.
Congress will hold unelected bureaucrats accountable. pic.x.com/TGaaW8I0Eu
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
My amendment prohibits the SEC from using taxpayer-funded resources to pursue enforcement actions against the digital asset industry until Congress passes legislation that authorizes regulatory enforcement jurisdiction.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @FinancialCmte: #ICYMI: The CBDC Anti-Surveillance State Act, sponsored by @GOPMajorityWhip, got the green light at last week's markup.…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @PatrickMcHenry: #ICYMI: @FinancialCmte advanced legislation to prohibit the @federalreserve from issuing a #CBDC without Congressional…
#ICYMI: @FinancialCmte advanced legislation to prohibit the @federalreserve from issuing a #CBDC without Congressional…Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Digital assets are here to stay. My bill makes sure unelected Washington bureaucrats can’t weaponize them to monitor Americans’ private financial data. washingtonexaminer.com/policy/economy…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @BlockchainAssn: CBDCs present major privacy concerns for everyday Americans, including granting the government the ability to track all…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The Financial Services Committee is set to vote on my bill, the CBDC Anti-Surveillance State Act, today. Watch my remarks from the debate: pic.x.com/C4S3okdl0w
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @EleanorTerrett: NEW: @GOPMajorityWhip’s anti-CBDC bill has just passed out of the House Financial Services Committee.
NEW: @GOPMajorityWhip’s anti-CBDC bill has just passed out of the House Financial Services Committee.Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The first anti-CBDC bill in the United States passed out of the Financial Services Committee today! A historical step in defending against an ever-expanding government surveillance state. x.com/GOPMajorityWhi…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Thank you, @FinancialCmte for considering my legislation, the CBDC Anti-Surveillance State Act, today.
emmer.house.gov/2023/9/emmer-r…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
If not open, permissionless, and private – like cash – a CBDC is nothing more than a CCP-style surveillance tool that can be weaponized to oppress the American way of life.
We’re not going to let that happen – not on House Republicans’ watch. pic.x.com/XVq6ySu0Xc
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Today, with 49 of my Republican colleagues, I reintroduced the CBDC Anti-Surveillance State Act
foxbusiness.com/markets/gop-ta…Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Why: The administration has made it clear: President Biden is willing to compromise the American people’s right to financial privacy for a surveillance-style CBDC.
I don’t believe in compromising Americans’ rights.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Bottom Line: If not open, permissionless, and private - like cash - a CBDC is nothing more than a CCP-style surveillance tool that can be weaponized to oppress the American way of life.
Thank you @FinancialCmte for considering my bill this month.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
What: My updated bill prohibits the Fed from issuing a retail CBDC while protecting innovation and any future development of true digital cash.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
That is why I'm planning to sponsor an appropriations amendment that restricts the SEC's use of funds on digital asset enforcement until there are clear rules and regulations in place.
Read more below
majoritywhip.gov/news/documents…
majoritywhip.gov/news/documents…Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
1. SEC loses on Ripple...
2. SEC loses on Grayscale...
We will see how pending litigation plays out, but it should be increasingly obvious to policymakers that, despite @GaryGensler's mass marketing campaign, crypto is not an industry "rife with noncompliance." x.com/GOPMajorityWhi…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The Federal Reserve has proven itself to be incompetent.
I’m proud to support @PatrickMcHenry’s Clarity for Payment Stablecoins Act with his commitment to work with me to roll back the Fed’s power and authority in this bill.
Watch my remarks in @FinancialCmte pic.x.com/84UVYGkP78
pic.x.com/84UVYGkP78
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
"The Blockchain Regulatory Certainty Act ensures American digital asset innovations can continue to thrive here in the United States. We urge members of the committee to vote in favor of this bill." - @BlockchainAssn
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The BRCA provides the digital asset ecosystem regulatory certainty to keep innovating in the United States so the future digital economy reflects American values.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
My remarks on @PatrickMcHenry/@CongressmanGT's digital asset market structure bill pic.x.com/FJkHWUii3x
pic.x.com/FJkHWUii3x
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
"The basic protections provided by H.R. 1747 represent a core building block in providing a foundation for future responsible innovation here in the United States." - @crypto_council
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The Blockchain Regulatory Certainty Act has garnered support from every sector of the digital asset ecosystem.
Here's what they're saying about mine and @RepDarrenSoto's nonpartisan bill:
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Today, the @FinancialCmte will begin debating my nonpartisan bill with @RepDarrenSoto, the Blockchain Regulatory Certainty Act. Our bill provides regulatory certainty so the decentralized economy can be built by Americans, with American values.
Tune in:
youtube.com/watch?v=cw4hdr…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @fund_defi: 1/ There are several crypto bills being marked up in @FinancialCmte this week.
First up: The bipartisan Blockchain Regulato…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Crypto will thrive with or without the U.S.
Congress must step into the driver’s seat and pass a bill that provides the American people and industry with regulatory clarity, certainty, confidence, and competitiveness. Anything less is unacceptable.
Watch my Committee remarks: pic.x.com/DlwNyoMZal
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Every day, we are working to educate fellow Members of Congress on the dangers of central bank digital currencies.
My bill, the CBDC Anti-Surveillance State Act, is up to 26 cosponsors, and we’re just getting started
emmer.house.gov/2023/2/emmer-l…C
emmer.house.gov/2023/2/emmer-l…CVery pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
“This is the smartest approach we have seen to provide clarity about how securities law applies to digital assets.” - @coincenter pic.x.com/KMBcJz23Z8
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
“The Securities Clarity Act would go a long way towards providing regulatory clarity for the securities treatment of digital assets and we are proud to support its reintroduction.” - @BlockchainAssn pic.x.com/buD8zBt6rw
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
“We commend Rep. Tom Emmer and @RepDarrenSoto for their commitment to American innovation with the reintroduction of this important bipartisan legislation…” - @crypto_council pic.x.com/7SEllHY5KE
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Last week, I introduced the Securities Clarity Act with @RepDarrenSoto which clarifies the regulatory classification of digital assets to provide market certainty for innovators and clear jurisdictional boundaries for regulators.
Here’s what others are saying about our bill:
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
@RepDarrenSoto The Securities Clarity Act inserts a key term, the “investment contract asset,” into existing securities law to enable crypto projects to reach their full potential in a compliant way, allowing the United States to compete globally in this next iteration of the internet.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
@RepDarrenSoto Without a distinction between the asset and the securities contract, token projects that raise capital to fund development cannot move out of the securities framework once the project is decentralized, which hinders the utility of the project and ultimately harms token holders.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
@RepDarrenSoto We appreciate the broad community support on this legislation from @CoinCenter, @BlockchainAssn, @DigitalChamber, and @crypto_council.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Today, I introduced the Securities Clarity Act with @RepDarrenSoto. This bill clarifies the regulatory classification of digital assets and provides market certainty for innovators and clear jurisdictional boundaries for regulators. pic.x.com/xgsLAm2Yhh
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
@RepDarrenSoto @coincenter @BlockchainAssn @DigitalChamber @crypto_council Read the bill here: emmer.house.gov/_cache/files/4…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @Protectaxpayers: The Limit, Save, Grow Act of 2023 introduced by House GOP leadership is a strong start to addressing the nation’s defi…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @FinancialCmte: #WATCH: @GOPMajorityWhip Tom Emmer skewers Chair Gensler for his regulation by enforcement approach to digital assets' f…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
He’s finalized ZERO rules for crypto companies to comply with…
yet he abuses the SEC’s enforcement powers against them: pic.x.com/jn30XimsLP
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
He was the “cop on the beat” when the biggest crypto frauds collapsed, doing nothing to stop these criminals before they defrauded Americans: pic.x.com/F4o0gT7Oid
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
We should never sacrifice decentralized money.
Thank you, @DigitalChamber, for inviting me to join you all today. pic.x.com/reJIepS5t6
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
If you want to assume unelected bureaucrats are going to do the things you expect them to do, you do that at your own risk. This Administration is already moving in the direction of a CBDC, and the events of this week have only made that more clear. pic.x.com/JAtCpUgaSm
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
“Any buyer of Signature must agree to give up all the crypto business at the bank, the two sources added.” 
reuters.com/business/finan…
reuters.com/business/finan…Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
It's clear the Biden administration is weaponizing market chaos to kill crypto.
This is why I sent an investigative letter to FDIC Chairman Gruenberg seeking additional information yesterday. pic.x.com/oPr3WLZtk3
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Today, I sent a letter to FDIC Chairman Gruenberg regarding reports that the FDIC is weaponizing recent instability in the banking sector to purge legal crypto activity from the U.S. pic.x.com/fDmaA0XGWv
pic.x.com/fDmaA0XGWv
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The Blockchain Regulatory Certainty Act
The Securities Clarity Act
The Safe Harbor for Taxpayers with Forked Assets Act
The CBDC Anti-Surveillance State Act
The future of crypto in the US will be determined by Congress and the American People - not the Administrative State. pic.x.com/OQ0uwxjVxX
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
An unelected bureaucrat stating a willingness to trade your right to financial privacy for a surveillance-style U.S. CBDC
home.treasury.gov/news/press-rel…
home.treasury.gov/news/press-rel…Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The bill does three things:
1. Prohibits the Fed from issuing a CBDC directly to anyone.
2. Bars the Fed from using a CBDC to implement monetary policy and control the economy.
3. Requires the Fed's CBDC projects to be transparent to Congress and the American people
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Today, I introduced the CBDC Anti-Surveillance State Act to halt efforts of unelected bureaucrats in Washington, DC from stripping Americans of their right to financial privacy. pic.x.com/lONbHFZMk7
pic.x.com/lONbHFZMk7
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Crypto is here to stay. I will keep advocating for policies that advance crypto innovation and adoption in the United States because crypto is more than a financial investment: it’s about restoring liberty and choice to individuals.
coindesk.com/consensus-maga…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Nearly 5 months later, Treasury responded to our inquiry about OFAC’s sanctioning of Tornado Cash smart contracts… decentralized, immutable contracts that enable transaction privacy on public blockchains. pic.x.com/jVz70JK3Cq x.com/GOPMajorityWhi…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
.@GaryGensler and the SEC had more meetings with SBF and FTX/IEX than anyone else in crypto, allegedly to craft a special regulatory framework designed to benefit FTX alone.
Making backroom regulatory deals with bad actors is not a tool in the SEC’s toolbox. x.com/GaryGensler/st…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The failure of FTX is not a failure of crypto, it is a failure of centralization.
DeFi is the point. pic.x.com/TuamGCPcba
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The US remains a tech leader not because we force innovators to adopt our values, but because we allow tech that holds these values at their core to flourish.
What happens if the US issues a CBDC that doesn’t reflect American values?
My op-ed
americanbanker.com/opinion/the-u-…
americanbanker.com/opinion/the-u-…Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Probably a good time to re-up my bipartisan Blockchain Regulatory Certainty Act.
The bill asserts that blockchain entities that never custody consumer funds are not money transmitters… providing necessary legal certainty to ensure the future of crypto reflects American values.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
So @GaryGensler knows that FTX was fraudulent from its inception.
This is egregious considering he had more meetings with Bankman-Fried than anyone in the space to discuss a crypto regulatory framework designed to benefit FTX alone.
He will be held accountable. pic.x.com/LkkOMfc5TP
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The Caucus received info from several sources (FTX, as we’ve said repeatedly, was not one of them) that @GaryGensler's efforts to gather info on crypto companies were not targeted, intentional, or clear; rather, the SEC's requests were haphazard and unfocused.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
We now know Gensler's crypto information-gathering efforts were ineffective.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Gensler has repeatedly dodged Congress at the expense of investors (hasn’t publicly appeared before the House Financial Services since October 5, 2021), leaving us to learn about the SEC's crypto investigations, like the one into FTX, through the media.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Project Hamilton is an initiative between the Boston Fed and MIT to research the potential development of a U.S. CBDC & the private sector's role must be transparent. No government body should be in the business of picking winners and losers in private industry.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
I sent a letter with @PatrickMcHenry to the Boston Fed concerning allegations that some firms participating in "Project Hamilton" might intend to use govt. resources to design a CBDC under the Fed’s watch with the intent to then sell those products to commercial banks. pic.x.com/a3vaK4MPkq
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
.@SenTedCruz and I have introduced legislation that will prevent the Federal Reserve from ever issuing a CBDC directly to individuals.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
We were concerned in March that @GaryGensler was taking an indiscriminate and inconsistent approach to oversight of the crypto community. x.com/GOPMajorityWhi…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
FTX's collapse is not a crypto failure. It's a failure with CeFi, @GaryGensler, and Sam Bankman-Fried. Decentralization is the point. Watch below for more thoughts pic.x.com/VYacafc0ZD
pic.x.com/VYacafc0ZD
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Decentralization is the point. If we sacrifice DeFi for legislation, we’re throwing away the opportunity.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
After years of pushing for crypto accounting standards, FASB’s new rule is a win for institutional crypto adoption. Clear, logical accounting standards for companies w/ crypto on their balance sheets adds transparency to the market and protects investors.
wsj.com/articles/fasb-… x.com/GOPMajorityWhi…
wsj.com/articles/fasb-… x.com/GOPMajorityWhi…Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
We’ll be very clear: There is no alternative to authorizing a CBDC other than through legislation. And Congress won’t approve a CBDC unless it’s open, permissionless, & private. I commend @RepFrenchHill & @PatrickMcHenry for leading this letter and am proud to support.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The Biden Admin wrote a report on how they could issue a CBDC behind the back of Congress and the American people. Now, they aren't sharing that report with Congress. x.com/RepFrenchHill/…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @FinancialCmte: The Biden Admin continues to focus almost exclusively on the potential risks posed by digital assets, instead of their o…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
I was honored to receive the @crypto_council Digital Future Award.
The crypto community will build with or without us. We will continue to work to make the United States an environment where this technology can thrive. pic.x.com/BdqxRHi4Fg
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The Administration must embrace the benefits of open, permissionless & private digital assets, rather than place prominence on central bank digital currencies, the benefits of which remain confounding. (2/2)
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Disappointed to see that this incomplete response from Treasury does not consider Americans’ constitutional right to privacy while sanctioning of neutral, open-source, decentralized privacy software. home.treasury.gov/policy-issues/… x.com/GOPMajorityWhi…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The more of our liberty and privacy we sacrifice, the greater the threat of tyranny becomes.
Crypto creates freedom.
axios.com/2022/08/30/tom…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @MeriTalk: In this MerITocracy Moment, @RepTomEmmer shares how overregulating #cryptocurrencies could drive #innovators and #entrepreneu…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
I sent a letter to Treasury Secretary Yellen regarding the unprecedented sanctioning of Tornado Cash. The growing adoption of decentralized technology will certainly raise new challenges for OFAC. Nonetheless, technology is neutral and the expectation of privacy is normal.
https://t.co/0aN4a4A6tb
https://t.co/0aN4a4A6tb
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Unelected bureaucrats and regulators do not get to politicize the rules of the road or hold the keys to opportunity.
Listen to my recent conversation with @ThinkingCrypto1 here:
youtube.com/watch?v=7GEv1C…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
ICYMI: In June, I sent a bipartisan letter with @RepAuchincloss to Fed Chair Powell seeking information on the federal government's digital asset holdings. pic.x.com/gf3mK48rdY
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
If that is the case, the US would be a large digital asset holder, able to materially impact market trends through sales or purchases. Congress must have insight from the Fed so we can establish informed regulatory guidelines.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
US law enforcement regularly captures and seizes cryptocurrency and auctions that crypto off to the public. This process is not transparent, and there are reports that, as of February 2022, the US government owned over $4 billion in Bitcoin alone.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Viewing crypto as merely a financial investment misses the entire point.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The crypto community will build with or without us. Congress’s job is to develop common-sense, innovation-forward regulations so opportunities stay here at home and Americans can adopt this technology with confidence.
forbes.com/sites/zengerne…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
This weekend, I had the chance to tour @RiotBlockchain’s Bitcoin mining facility, Whinstone, built with the help of Industrial Louvers Inc. based in Delano, MN! pic.x.com/YttOhyHTea
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Americans are right to be concerned. For instance, China has already created a CBDC that can be used to spy on citizens and marginalize political dissidents.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
I have introduced legislation to prevent the Fed from issuing a CBDC directly to Americans. emmer.house.gov/press-releases…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
The Fed report pitched a CBDC that would supposedly ensure privacy while also prioritizing user-identification. But “privacy” and “identification” are irreconcilable.
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Over 70% of public respondents to the Fed’s report on central bank digital currency DO NOT support the U.S. developing a CBDC. cato.org/blog/72-commen…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
RT @FinancialCmte: It’s unclear what problems, if any, a U.S. #CBDC would solve.
Committee Republicans believe #stablecoins—if issued unde…
Very pro-crypto
Tom Emmer Jr.
@GOPMajorityWhip
Any U.S. backed CBDC must be open, permissionless, and private.
Anything less than that is nothing more than a government surveillance tool.
We must understand the problems a CBDC could solve before considering launching one.
theamericanconservative.com/articles/biden…
Very pro-crypto