profile picture of Tom Emmer Jr.

Tom Emmer Jr.

Republican Congressperson from Minnesota, 6

Notable statements

profile picture of Tom Emmer Jr.

Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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.twitter.com/ANChvqG5nY
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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"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
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Tom Emmer Jr.

@RepTomEmmer

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"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
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Tom Emmer Jr.

@RepTomEmmer

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"...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
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Tom Emmer Jr.

@RepTomEmmer

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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
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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"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
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Tom Emmer Jr.

@RepTomEmmer

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"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
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Tom Emmer Jr.

@RepTomEmmer

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"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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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"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
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Tom Emmer Jr.

@RepTomEmmer

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"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
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Tom Emmer Jr.

@RepTomEmmer

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"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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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RT @Heritage_Action: The CBDC Anti-Surveillance State Act will safeguard Americans' financial privacy in the face of potential surveillance…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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RT @RepMaxMiller: This week I look forward to supporting @GOPMajorityWhip's CBDC Anti-Surveillance State Act to keep government in check.…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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.twitter.com/T58C3xWSWU
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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RT @club4growth: 🚨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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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.twitter.com/d55gwBOAUz
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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RT @FinancialCmte: This week, @HouseGOP will take action to protect consumers and foster innovation with two landmark digital asset bills,…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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RT @FinancialCmte: Classifying #ETH as a security contradicts previous statements of the SEC and Chair Gensler. Republicans will continue…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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“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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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“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
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Tom Emmer Jr.

@RepTomEmmer

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"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
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Tom Emmer Jr.

@RepTomEmmer

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"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
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Tom Emmer Jr.

@RepTomEmmer

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"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
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Tom Emmer Jr.

@RepTomEmmer

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"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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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RT @BlockchainAssn: 1/ CBDCs present major privacy concerns for everyday Americans, including granting the government the ability to collec…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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.twitter.com/Y2nSJfe3Lk
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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Navigating Gary Gensler’s regulatory approach to digital assets is like playing hopscotch in a minefield. Blindfolded.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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Digital assets aren’t the enemy. They are a tool for trust, transparency, and individual liberty.
Very pro-crypto
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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RT @blockchaintpsht: .@MajorityWhipGOP Tom Emmer spoke to blockchain tipsheet yesterday about the state of digital assets legislation in Co…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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. twitter.com/thinkingcrypto…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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Congressional resources should instead be spent working to bring more crypto activity and opportunities onshore to bolster U.S. national security.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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.twitter.com/l0CkShJseD
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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.@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.twitter.com/TGaaW8I0Eu
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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RT @FinancialCmte: #ICYMI: The CBDC Anti-Surveillance State Act, sponsored by @GOPMajorityWhip, got the green light at last week's markup.…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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RT @PatrickMcHenry: 🚨#ICYMI: @FinancialCmte advanced legislation to prohibit the @federalreserve from issuing a #CBDC without Congressional…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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RT @BlockchainAssn: CBDCs present major privacy concerns for everyday Americans, including granting the government the ability to track all…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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RT @EleanorTerrett: 🚨NEW: @GOPMajorityWhip’s anti-CBDC bill has just passed out of the House Financial Services Committee.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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.twitter.com/XVq6ySu0Xc
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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." twitter.com/GOPMajorityWhi…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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.twitter.com/84UVYGkP78
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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"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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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"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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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.twitter.com/DlwNyoMZal
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Very pro-crypto
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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“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.twitter.com/buD8zBt6rw
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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@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
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Tom Emmer Jr.

@RepTomEmmer

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@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
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Tom Emmer Jr.

@RepTomEmmer

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@RepDarrenSoto We appreciate the broad community support on this legislation from @CoinCenter, @BlockchainAssn, @DigitalChamber, and @crypto_council.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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.twitter.com/xgsLAm2Yhh
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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RT @FinancialCmte: #WATCH: @GOPMajorityWhip Tom Emmer skewers Chair Gensler for his regulation by enforcement approach to digital assets' f…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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.twitter.com/JAtCpUgaSm
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Very pro-crypto
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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.twitter.com/OQ0uwxjVxX
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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.@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. twitter.com/garygensler/st…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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-…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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.twitter.com/LkkOMfc5TP
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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.twitter.com/a3vaK4MPkq
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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.@SenTedCruz and I have introduced legislation that will prevent the Federal Reserve from ever issuing a CBDC directly to individuals.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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Decentralization is the point. If we sacrifice DeFi for legislation, we’re throwing away the opportunity.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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.twitter.com/BdqxRHi4Fg
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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RT @MeriTalk: In this MerITocracy Moment, @RepTomEmmer shares how overregulating #cryptocurrencies could drive #innovators and #entrepreneu…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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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
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Tom Emmer Jr.

@RepTomEmmer

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Self-directed 401(k) accounts should be… self directed. Congress will ensure the government cannot prohibit Americans from investing part of their self-directed 401(k) accounts in Bitcoin or any other assets.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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.@FinancialCmte wants to understand what problems a CBDC would solve BEFORE we create and launch one.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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This is why, ahead of next week’s Financial Services Committee hearing on CBDCs I joined @PatrickMcHenry and the @FinancialCmte in a letter to @FederalReserve Chair Jerome Powell concerning the Fed’s recent CBDC white paper. twitter.com/FinancialCmte/…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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.@GaryGensler, you put all of the SEC’s taxpayer funded resources into crypto crackdowns. Now you don’t have the funds to do your actual job so you’re coming to Congress for more? You’ve got to be kidding me. pic.twitter.com/L1fH5Cd57m
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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ICYMI: FASB will (finally) establish crypto accounting standards. See our nonpartisan letter about this issue below. ⤵️ https://t.co/ymjXCou8xD
Very pro-crypto
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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For that reason, I introduced the FSOC Reform Act, which brings the FSOC under congressional oversight and increases the transparency of the council. The future of crypto will be decided by the American people, not bureaucrats. pic.twitter.com/9BblUvXQkg
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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Instead, the PWG wants Congress to pass stablecoin legislation that doesn’t have consensus in Congress, not even amongst Committee Democrats, and is threatening to utilize the "independent" FSOC as a vehicle to circumvent Congress and the American people on digital asset policy.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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Today, Secretary Yellen confirmed that the FSOC is not supposed to take direction from the White House, as that would compromise the independence of the council. This doesn’t seem to be the case when it comes to digital assets and stablecoins…
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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If Congress doesn’t pass the legislation the Admin wants us to pass? Doesn’t matter. The stablecoin report & the crypto EO both direct FSOC to find risks with digital assets and stablecoins - once they label it as systemically risky, regulators can move forward with their agenda.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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Congress has recognized that this bureaucratic regulatory posture on digital assets is unproductive. So, we are working together, across the aisle, to find solutions that will allow the United States to lead in digital asset policy.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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The Digital Commodity Exchange Act, reintroduced today by my friend @CongressmanGT, gives the CFTC the authority to regulate crypto spot markets - streamlining regulation for exchanges and providing a place for tokens deemed not securities (digital commodities) to trade.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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I’ve been working with @CongressmanGT, @RepRoKhanna, and @RepDarrenSoto (members of the Blockchain Caucus) on two pieces of sensible, pro-crypto legislation that recognize a token is separate and distinct from a securities offering… because U.S. framework should reflect that.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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Any central bank digital currency that is not open, permissionless, and private – like cash – is simply a surveillance tool. I am proud to have @SenTedCruz lead the Senate companion of my CBDC legislation. 👇
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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The U.S. is not “behind China on crypto.” CBDCs are not crypto – they’re a government surveillance tool. Crypto creates freedom, it doesn’t destroy it.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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✅Crypto donations to Ukraine have totaled almost $100 million. ✅40% of the vendors supporting Ukraine have accepted crypto as payment. ✅Banks in Ukraine are not operating. Crypto exchanges are operating 24/7. Crypto is essential. https://t.co/mXmwG7JPqf
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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This is why I sent a bipartisan letter today to SEC Chair @GaryGensler with @RepDarrenSoto, @WarrenDavidson, @RepAuchincloss, @RepDonaldsPress, @RepJoshG, @RepTedBudd, and @RepRitchie regarding the SEC’s crypto information seeking process. pic.twitter.com/8HcTgZA0XL
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Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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Crypto startups must not be weighed down by extra-jurisdictional and burdensome reporting requirements. We will ensure our regulators do not kill American innovation and opportunities.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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My office has received numerous tips from crypto and blockchain firms that SEC Chair @GaryGensler’s information reporting “requests” to the crypto community are overburdensome, don’t feel particularly… voluntary… and are stifling innovation.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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Fortunately, there are decentralized payment tools that preserve the democratic values that are so integral to the free world. I am dedicated to ensuring Americans have financial tools that, like cash, are open, permissionless, private, and resilient to intermediated control.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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Shifting to a cashless economy is inevitable, but we should never surrender decentralized money.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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2) The EO places the “highest urgency” on the agencies to study CBDCs. Any commonsense analysis of a potential U.S. CBDC that is not open, permissionless, and private would illuminate that the very idea is an entire nonstarter and a disservice to Americans.
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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(The @BlockCaucus has been advancing a pro-crypto legislative and oversight agenda for the past 8 years.)
Very pro-crypto
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Tom Emmer Jr.

@RepTomEmmer

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Overall, it’s critical that we maintain tech and economic leadership on the global stage and I look forward to continuing to work to find bipartisan solutions to keep our great crypto community right here in the United States.
Very pro-crypto