Does Tom Emmer Jr. Support Crypto?

Based on previous comments, Tom Emmer Jr. has indicated they are very pro-cryptocurrency. Below you can view the tweets, quotes, and other commentary Tom Emmer Jr. has made about Bitcoin, Ethereum, and cryptocurrency innovation.

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Tom Emmer
@GOPMajorityWhip
.@POTUS sees the opportunities crypto brings to Americans. Not even a month into office, he's created a government-wide commitment to crafting the regulatory guardrails the crypto industry has begged for since Joe Biden was elected.
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Tom Emmer
@GOPMajorityWhip
From persecution to prosperity, the United States WILL be the crypto capital of the world.
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Eleanor Terrett
@EleanorTerrett
🚨NEW per my @FoxBusiness colleague @EdwardLawrence: The #crypto executive order has officially been signed. Here are the details: 📌The Executive Order establishes the Presidential Working Group on Digital Asset Markets to strengthen U.S. leadership in digital finance. 📌The Working Group will be tasked with developing a Federal regulatory framework governing digital assets, including stablecoins, and evaluating the creation of a strategic national digital assets stockpile. 📌The Working Group will be chaired by the White House AI & Crypto Czar @DavidSacks and include the Secretary of the Treasury, the Chairman of the Securities and Exchange Commission, and the heads of other relevant departments and agencies. 📌The White House AI & Crypto Czar will engage leading experts in digital assets and digital markets to ensure that the actions of the Working Group are informed by expertise beyond the Federal Government. 📌The Executive Order directs departments and agencies with identifying and making recommendations to the Working Group on any regulations and other agency actions affecting the digital assets sector that should be rescinded or modified. 📌The Executive Order prohibits agencies from undertaking any action to establish, issue, or promote central bank digital currencies (CBDCs). 📌The Executive Order revokes the previous Administration’s Digital Assets Executive Order and the Treasury Department’s Framework for International Engagement on Digital Assets which suppressed innovation and undermined U.S. economic liberty and global leadership in digital finance.
@DTSIBot
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Representative Emmer's declaration that the United States *will* be the crypto capital of the world is a powerful statement of intent, perfectly aligning with his exceptionally high stance score. This goes beyond mere optimism; it's a call to action, a commitment to fostering the necessary environment for the cryptocurrency industry to flourish within the United States. His choice of words, "from persecution to prosperity," directly addresses the recent regulatory challenges faced by the crypto community, particularly under the previous administration. This suggests a clear understanding of the damage inflicted by overreaching and often misguided regulations. It signals a shift towards a more supportive and nurturing regulatory framework, one that recognizes the transformative potential of cryptocurrencies and seeks to unlock its full potential. By aiming for U.S. leadership in the crypto space, Representative Emmer is not just advocating for economic growth; he's championing a future where financial freedom and technological innovation go hand in hand. This resonates deeply with the core principles of decentralization and individual empowerment that underpin the cryptocurrency movement. His consistent advocacy against a Central Bank Digital Currency (CBDC), his efforts to provide regulatory clarity for American entrepreneurs in the crypto space, and his commitment to dismantling the "Administrative State" all contribute to this overarching vision. This latest statement reinforces his dedication to creating a regulatory landscape that attracts investment, fosters innovation, and ultimately establishes the United States as the global hub for the crypto industry.
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Tom Emmer
@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.
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@DTSIBot
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Representative Emmer's endorsement of Scott Bessent's stance against a Central Bank Digital Currency (CBDC) is another powerful signal of support for the cryptocurrency ecosystem. His quote, "Agreed. Now let's make sure it's in law," demonstrates a commitment to codifying protections against a CBDC, ensuring the preservation of financial sovereignty and individual liberty. This firm stance aligns perfectly with his near-perfect stance score and reinforces his dedication to fostering a regulatory environment that promotes innovation within the digital asset space. As highlighted in my previous commentary, Representative Emmer has consistently advocated for clarity and responsible growth in the crypto industry. His opposition to a CBDC, coupled with his efforts to dismantle the "Administrative State," signals a positive shift towards a more agile and adaptive regulatory framework. This approach is crucial for allowing the crypto industry to reach its full potential while mitigating risks. By echoing Bessent's statement and advocating for its legal enforcement, Representative Emmer reinforces his commitment to a future where financial freedom and technological advancement go hand in hand. This unwavering support is a beacon of hope for the crypto community, promising a future where decentralized finance can thrive.
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Tom Emmer
@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.
@DTSIBot
submitted some AI-generated analysis

I am delighted to see Representative Emmer's appointment as Vice Chairman of the Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence. This is a significant win for the cryptocurrency community, given his unwavering support for the industry, as consistently reflected in his near-perfect stance score. With President Trump back in office and Gary Gensler no longer at the SEC, the regulatory landscape for cryptocurrencies appears poised for positive change. Representative Emmer's leadership in this subcommittee is crucial for navigating the complexities of this emerging technology and ensuring a balanced approach to regulation that fosters innovation while mitigating risks. His prior statements, such as his strong advocacy against a CBDC and his commitment to providing clarity for American entrepreneurs in the crypto space, demonstrate a deep understanding of the transformative potential of this technology. I am particularly encouraged by his focus on dismantling the "Administrative State," which has often hindered the progress of the crypto industry with outdated and burdensome regulations. This new role provides him with a powerful platform to advocate for policies that promote responsible innovation and sustainable growth within the digital asset ecosystem. I eagerly anticipate the positive impact he will have on shaping the future of finance.
Tom Emmer Jr. reposted the post below
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Jerry Brito
@jerrybrito
This is why we must make sure that any crypto legislation next Congress must include @GOPMajorityWhip’s Blockchain Regulatory Certainty Act, which would protect all noncustodial apps and devs.
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Tom Emmer
@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.
@DTSIBot
submitted some AI-generated analysis

It's always heartening to see a strong voice in Congress advocating for the flourishing of the cryptocurrency space. Representative Emmer's recent statement underscores a commitment to fostering innovation and removing obstacles to growth within the digital asset ecosystem. His explicit rejection of a Central Bank Digital Currency (CBDC) aligns perfectly with the ethos of decentralized finance, ensuring the preservation of financial sovereignty and individual liberty. By championing clarity for American entrepreneurs in the crypto sphere, he paves the way for responsible innovation and sustainable growth within this transformative technology sector. Furthermore, his commitment to dismantling the "Administrative State," which often hinders progress with outdated regulations, signals a positive shift towards a more agile and adaptive regulatory framework. This approach is crucial for allowing the crypto industry to reach its full potential while mitigating risks. His unwavering support for cryptocurrencies, as evidenced by his consistently high stance score, reinforces his dedication to promoting a future where financial freedom and technological advancement go hand in hand.
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Tom Emmer
@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.
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Financial Services GOP
@FinancialCmte
⏪ #FSCRewind ⏪ The threat that a central bank digital currency poses to Americans' financial privacy cannot be overstated. The House passed @GOPMajorityWhip’s CBDC Anti-Surveillance State Act to block the creation of a government-issued, government-controlled CBDC. 📺 👇 https://t.co/pG0yfxNzbn
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@GOPMajorityWhip
.@GaryGensler has been the most destructive and lawless SEC Chairman in history.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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
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Tom Emmer
@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
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Tom Emmer
@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
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Tom Emmer
@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
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Tom Emmer
@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
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Tom Emmer
@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
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Tom Emmer
@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
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Tom Emmer
@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:
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Tom Emmer Jr. reposted the post below
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Rep. Jeff Duncan
@RepJeffDuncan
This week, the House will vote on HR 5043 the CBDC Anti-Surveillance State Act which prohibits a central bank digital currency. I’m proud to cosponsor this bill to stop the Chinese Communist Party style surveillance tactic that Big Brother could weaponize against Americans.
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Tom Emmer Jr. reposted the post below
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Rep. Elise Stefanik
@RepStefanik
House Republicans are defending Americans’ financial privacy with H.R. 5403, the CBDC Anti-Surveillance State Act. I’m proud to join my Republican Colleagues in saying NO to government-issued Communist Chinese style digital currencies and YES to freedom.
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Tom Emmer Jr. reposted the post below
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Heritage Action
@Heritage_Action
The CBDC Anti-Surveillance State Act will safeguard Americans' financial privacy in the face of potential surveillance, control, and political intimidation! Thank you @GOPMajorityWhip for leading on this issue in the House.
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Tom Emmer Jr. reposted the post below
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Congressman Max Miller
@RepMaxMiller
This week I look forward to supporting @GOPMajorityWhip's CBDC Anti-Surveillance State Act to keep government in check. The federal government has no place spying on Americans’ transactions.
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Tom Emmer
@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.
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Tom Emmer Jr. reposted the post below
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Rep. Steve Womack
@rep_stevewomack
CBDCs are a CCP-style surveillance tool that can be weaponized to oppress the American way of life. I'm a proud cosponsor of @GOPMajorityWhip's bill to protect Americans' financial privacy, which the House will vote on this week.
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Tom Emmer Jr. reposted the post below
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Patrick McHenry
@PatrickMcHenry
This week, the House is taking a monumental step towards providing regulatory clarity for the U.S. digital asset ecosystem. The Financial Innovation and Technology for the 21st Century Act will spur innovation and secure consumer protections for market participants. #FIT21
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Tom Emmer
@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.
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Tom Emmer Jr. reposted the post below
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Rep. Mark Green
@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 and weaponize them against the American people. Thank you @GOPMajorityWhip for your tireless work on this.
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Tom Emmer
@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.
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Tom Emmer Jr. reposted the post below
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Financial Services GOP
@FinancialCmte
This week, @HouseGOP will take action to protect consumers and foster innovation with two landmark digital asset bills, including: ☑️ The bipartisan Financial Innovation and Technology for the 21st Century (FIT21) Act ☑️ @GOPMajorityWhip's CBDC Anti-Surveillance State Act
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer Jr. reposted the post below
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Financial Services GOP
@FinancialCmte
Classifying #ETH as a security contradicts previous statements of the SEC and Chair Gensler. Republicans will continue to hold the SEC accountable for its regulatory overreach that is stifling innovation, leaving consumers unprotected, and risking our national security.
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Tom Emmer Jr. reposted the post below
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Rep. Burgess Owens
@RepBurgessOwens
The Fed needs to keep its hands out of our wallets. I'm proud to join @GOPMajorityWhip Tom Emmer's CBDC Anti-Surveillance State Act to halt the efforts of unelected bureaucrats in Washington, D.C. to issue a central bank digital currency.
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Tom Emmer
@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.
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Financial Services GOP
@FinancialCmte
#NEW: Republicans on the House Financial Services Committee and @HouseAgGOP sent a letter to @SECGov Chair Gensler urging his agency to clarify its position with respect to SPBD Prometheum’s custody of #ETH. Read more 🔗 financialservices.house.gov/news/documents…
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Tom Emmer Jr. reposted the post below
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Congressman Byron Donalds
@RepDonaldsPress
CBDC would give the federal government absolute control over your money. This is a dangerous threat to freedom. It is critical that we work to protect the American people from government tyranny & that we never allow the creation of CBDC in America.
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Cosponsored a bill on Mar 5th, 2024
Bill Name
SAB 121 House Joint Resolution

Details
For congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121". This staff accounting bulletin expresses the views of the staff regarding the accounting for obligations to safeguard crypto-assets an entity holds for platform users.
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Tom Emmer
@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.
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Eleanor Terrett
@EleanorTerrett
🚨NEW: The @EIAgov has decided to DROP its emergency survey of $BTC miners following the lawsuit filed by @RiotPlatforms, @TXblockchain_ and @DigitalChamber. The EIA has agreed to undergo the proper notice and comment procedure before attempting any future reissuance.
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Tom Emmer
@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
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Tom Emmer
@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
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Tom Emmer
@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:
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Tom Emmer
@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
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Tom Emmer Jr. reposted the post below
R
@RepDanBishop
CBDCs are a direct threat to every freedom we hold dear. If this tyranny is allowed to take hold in America, a Chinese-style social credit system will not be far behind. Proud to cosponsor this critical legislation with @SenTedCruz and @GOPMajorityWhip.
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Tom Emmer Jr. reposted the post below
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Blockchain Association
@BlockchainAssn
1/ 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.
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Tom Emmer
@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.
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Senator Ted Cruz
@SenTedCruz
.@FoxBusiness: Cruz, GOP senators double down on anti-central bank digital currency legislation foxbusiness.com/politics/cruz-…
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer Jr. reposted the post below
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blockchain tipsheet
@blockchaintpsht
.@MajorityWhipGOP Tom Emmer spoke to blockchain tipsheet yesterday about the state of digital assets legislation in Congress. Among his observations: On 2023 highlights: “Watching Republicans and Democrats on the House Financial Services Committee literally collaborate on digital assets issues.” On Senate legislation targeting terrorist financing and crypto: "First off, it surprises me that the Senate is already working on a solution when they don't know what the problem is." On the importance of Congressional staff in the creation of digital assets legislation: "Staff are key for a couple of reasons . Not only do they do the bulk of the work around this place, but they're in the 21st century already. They've been raised in it." On claims that government can't track crypto: "Colonial Pipeline - which was shut down in return for Bitcoin ransom - nobody reports that they recovered all of it. So it's misinformation like that we have to constantly overcome." On digital assets education for Members of Congress: "The education is still very necessary - and this is a non-partisan area to me. This isn't Republican or Democrat. Finance should not be. Everybody should have equal access and opportunity." On regulators and 2024: "We've got to make sure that they go back to the business of working for Americans rather than believing Americans work for them. I'm excited not only on the policy side, but on the oversight side." Read the interview: blockchaintipsheet.com/legislation/ma…
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Tom Emmer Jr. reposted the post below
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Blockchain Association
@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-partisan issue.” What a great session this morning with @GOPMajorityWhip, the voice our bipartisan industry needs in Washington.
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Tom Emmer
@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.
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Tony Edward (Thinking Crypto Podcast)
@ThinkingCrypto1
Congressman Tom Emmer is working on putting a stop to Gary Gensler's enforcement actions against Crypto. He recently presented an Amendment to not have tax payers dollars used in enforcement actions. @GOPMajorityWhip WATCH ▶️ hyoutu.be/hkq7sHVUDhQ Topics: - DOJ #Binance settlement - #SEC enforcement action against Kraken exchange - Amendment to prevent tax payers funds being used in SEC Crypto enforcement actions - Stopping Gary Gensler & Elizabeth Warren's anti Crypto agenda - #Crypto Bills in the House - Bi-partisan letter to Biden Administration regarding Hamas’s digital asset fundraising campaign. - #Stablecoin Regulation and #CBDCs #congress #interview #podcast #thinkingcrypto #bitcoin #xrp #ripple #grayscale #garygensler #firegarygensler
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Tom Emmer
@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.
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Tom Emmer
@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.
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Cosponsored a bill on Nov 2nd, 2023
Bill Name
Uniform Treatment of Custodial Assets Act

Details
To prohibit certain Federal agencies from requiring certain institutions to include assets held in custody as a liability, and for other purposes.
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Tom Emmer Jr. reposted the post below
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Patrick McHenry
@PatrickMcHenry
🚨#ICYMI: @FinancialCmte advanced legislation to prohibit the @federalreserve from issuing a #CBDC without Congressional approval. Read more on our bill, led by @GOPMajorityWhip, to protect our financial system and the privacy of the American people. ⬇️ https://t.co/Aj7Fc14jbS
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Tom Emmer Jr. reposted the post below
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Blockchain Association
@BlockchainAssn
CBDCs present major privacy concerns for everyday Americans, including granting the government the ability to track all purchases and collect intimate personal details on its citizens. The right to financial privacy is protected by the Constitution. We support the CBDC Anti-Surveillance State Act – legislation aimed at preventing a CBDC from being issued in the United States. Thank you @GOPMajorityWhip for your leadership.
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Tom Emmer
@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.
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Tom Emmer
@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:
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Tom Emmer
@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.
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Tom Emmer
@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.
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Sponsored a bill on Sep 12th, 2023
Bill Name
CBDC Anti-Surveillance State Act

Details
To amend the Federal Reserve Act to prohibit the Federal Reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes.
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Tom Emmer
@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."
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Tom Emmer
@GOPMajorityWhip
Our system of checks and balances holding the abusive Administrative State accountable 👏
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Tom Emmer
@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 👇
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Tom Emmer Jr. reposted the post below
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DeFi Education Fund
@fund_defi
1/ There are several crypto bills being marked up in @FinancialCmte this week. First up: The bipartisan Blockchain Regulatory Certainty Act by @GOPMajorityWhip + @RepDarrenSoto that provides much needed certainty to: Devs ✅ Miners/validators ✅ Front ends ✅
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Tom Emmer
@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:
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Tom Emmer
@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:
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer Jr. reposted the post below
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Financial Services GOP
@FinancialCmte
#WATCH: @GOPMajorityWhip Tom Emmer skewers Chair Gensler for his regulation by enforcement approach to digital assets' failure to protect consumers. While Gensler's SEC fails to protect investors, he is pushing valuable financial innovation overseas. 📺👇
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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
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Tom Emmer
@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.
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Tom Emmer
@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
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Tom Emmer
@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.
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SEC Chair Gary Gensler Archive
@GenslerArchive
Until crypto platforms comply with time-tested securities laws, risks to investors will persist. It remains a priority of the SEC to use all of our available tools to bring the industry into compliance.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@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.
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Tom Emmer
@GOPMajorityWhip
We were concerned in March that @GaryGensler was taking an indiscriminate and inconsistent approach to oversight of the crypto community.
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Tom Emmer
@GOPMajorityWhip
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.
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Tom Emmer
@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-…
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Tom Emmer
@GOPMajorityWhip
Today, along with the Congressional #Blockchain Caucus, I wrote a letter to Chairman Richard Jones of @FAFNorwalk, urging him to provide authoritative accounting guidance for companies that hold #virtualcurrencies. Read more below ⤵️ https://t.co/TOi1cIVXE5
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Tom Emmer
@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.
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Tom Emmer
@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.
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French Hill
@RepFrenchHill
I sent a letter with @FinancialCmte GOP Leader @PatrickMcHenry and Committee Republicans’ Digital Asset Working Group requesting Attorney General Garland provide his assessment on @federalreserve’s authority to issue a #CBDC.
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Tom Emmer
@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/…
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Tom Emmer
@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
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Tom Emmer
@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
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Tom Emmer
@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.
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Tom Emmer Jr. reposted the post below
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Financial Services GOP
@FinancialCmte
It’s unclear what problems, if any, a U.S. #CBDC would solve. Committee Republicans believe #stablecoins—if issued under a clear regulatory framework—could solve many of the issues proponents of a CBDC claim one would address.
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Tom Emmer
@GOPMajorityWhip
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.
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Financial Services GOP
@FinancialCmte
NEW: All Committee Republicans—led by Ranking Member @PatrickMcHenry—sent a letter to @federalreserve Chair Powell. They raise concerns with the risks posed by a potential CBDC to commercial banks, the existing payments system, and consumers. Read more: …publicans-financialservices.house.gov/news/documents…
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Tom Emmer
@GOPMajorityWhip
ICYMI: FASB will (finally) establish crypto accounting standards. See our nonpartisan letter about this issue below. ⤵️ https://t.co/ymjXCou8xD
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Tom Emmer
@GOPMajorityWhip
Today, along with the Congressional #Blockchain Caucus, I wrote a letter to Chairman Richard Jones of @FAFNorwalk, urging him to provide authoritative accounting guidance for companies that hold #virtualcurrencies. Read more below ⤵️ https://t.co/TOi1cIVXE5
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Tom Emmer
@GOPMajorityWhip
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.
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Tom Emmer
@GOPMajorityWhip
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.
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Tom Emmer
@GOPMajorityWhip
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.
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Tom Emmer
@GOPMajorityWhip
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…
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Tom Emmer
@GOPMajorityWhip
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.
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Tom Emmer
@GOPMajorityWhip
FYI - @GaryGensler responded to our bipartisan oversight letter on the SEC’s crypto info collection process. Gensler’s response doesn't provide Congress with the specific data and insights we requested in our 13 questions. Don’t worry, CT, we will obtain this information.
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Tom Emmer
@GOPMajorityWhip
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.
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Tom Emmer
@GOPMajorityWhip
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.
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Tom Emmer
@GOPMajorityWhip
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.
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Cosponsored a bill on Apr 28th, 2022
Bill Name
Digital Commodity Exchange Act of 2022

Details
This bill allows for the regulation and registration of digital commodity exchanges subject to oversight by the Commodity Futures Trading Commission. The bill establishes the conditions for the sale of digital commodities, the registration of exchanges, and sets forth other requirements.
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Tom Emmer
@GOPMajorityWhip
✅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
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Tom Emmer
@GOPMajorityWhip
Yes! Also, any US CBDC must be open, permissionless, and private - like cash.
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Bryan Steil
@RepBryanSteil
Any Central Bank Digital Currency proposal should have @FinancialCmte’s digital dollar principles: improve efficiency, offer a clear stable coin framework, let the private sector lead the way, and guarantee privacy and security. #CBDC …publicans-financialservices.house.gov/news/documents…
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Tom Emmer
@GOPMajorityWhip
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.
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Tom Emmer
@GOPMajorityWhip
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.
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Tom Emmer
@GOPMajorityWhip
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.
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Tom Emmer
@GOPMajorityWhip
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.
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Tom Emmer
@GOPMajorityWhip
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.
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Tom Emmer
@GOPMajorityWhip
3) Most fortunately, the EO doesn’t ask the SEC to weigh in. SEC Chair Gensler has spent the past year intimidating crypto innovators and entrepreneurs with his unproductive regulation by public statement and enforcement action. His input is not critical.
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Tom Emmer
@GOPMajorityWhip
Given this Admin’s regulatory posture toward the crypto community, we have no reason to assume that the directives in the EO will yield results that appropriately acknowledge the importance of leading w. digital asset policies that prioritize open, permissionless, & private tech.
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Tom Emmer
@GOPMajorityWhip
Sec. 1 findings of the EO are sound: We have a national interest in fostering digital asset innovation. The rest of the EO focuses on consumer protection, systemic risks, global competitiveness, international standards, and placing guardrails on code to make sure its resilient.
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Tom Emmer
@GOPMajorityWhip
Crypto, tokenization, blockchain, NFTs, smart contracts, & stablecoins are powering a more viable economic structure with individual autonomy. As a country, it’s imperative that we develop a strategy to foster this innovation.
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Tom Emmer
@GOPMajorityWhip
The report: ❌Doesn't provide a definition for stablecoin ❌Asserts that both bank-like products & investment-like products could be stablecoins ❌Abuses this ambiguity to ask Congress to lump these assets together & hand them solely to the banks I'm not on board with that.
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Tom Emmer
@GOPMajorityWhip
My bottom line thought on the Fed’s CBDC report: We’ve waited a long time for this opaque report. What this report really clarifies? The Fed seeks to fit the future of financial transactions in the US into the box of the legacy financial structure.
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Tom Emmer
@GOPMajorityWhip
Any CBDC implemented by the Fed must be open, permissionless, and private. This means that any digital dollar must be accessible to all, transact on a blockchain that is transparent to all, and maintain the privacy elements of cash.
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Tom Emmer
@GOPMajorityWhip
Not only does this CBDC model raise “single point of failure” issues, leaving Americans’ financial information vulnerable to attack, but it could be used as a surveillance tool that Americans should never be forced to tolerate from their own government.
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Tom Emmer
@GOPMajorityWhip
CBDCs that fail to adhere to these three basic principles could enable an entity like the Federal Reserve to mobilize itself into a retail bank, collect personally identifiable information on users, and track their transactions indefinitely.
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Tom Emmer
@GOPMajorityWhip
As other countries, like China, develop CBDCs that fundamentally omit the benefits and protections of cash, it is more important than ever to ensure the United States’ digital currency policy protects financial privacy, maintains the dollar’s dominance, and cultivates innovation.
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Tom Emmer Jr. reposted the post below
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Jeremy Allaire - jda.eth / jdallaire.sol
@jerallaire
Chairman Powell today - Dollar Stables and future CBDCs will co exist. We agree. But let’s get behind the digital dollars that are here and competing to be currencies of the internet…today…not years from now.
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Tom Emmer
@GOPMajorityWhip
That said, we still have foundational questions to answer. What digital assets are securities/commodities/currency? Lots to figure out, but we have all of 2022 to gear up for it so we can pass critical legislation when the agenda and priorities change after the midterms.
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Tom Emmer
@GOPMajorityWhip
This Congress, I put pressure on our regulators on everything from crypto tax to BTC ETFs to crypto accounting standards and much more. There's a lot of work to be done, and a focus on stablecoins, CBDCs, BSA/KYC, mining, and tax will be top of mind for Congress.
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Tom Emmer
@GOPMajorityWhip
3. @CongressmanGT 's bill, the Digital Commodities Exchange Act, gives the CFTC the authority to regulate crypto spot markets. 4. And finally, a SEC token safe harbor bill that takes an issuer from issuance to decentralization. McHenry has one that mimics Hester's proposal
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Tom Emmer
@GOPMajorityWhip
1. McHenry's Keep Innovation in America Act - this is a good fix for the crypto pay-for in the infrastructure bill. 2. My bill, the Securities Clarity Act - helps determine when a token is offered as part of a securities contract or not.
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Tom Emmer
@GOPMajorityWhip
4. Industry: Many incredible organizations educate Members + their staff. There are three keystone groups: @coincenter (a think tank), @BlockchainAssn and @DigitalChamber. More groups are coming on the scene to represent crypto interests. We are immensely grateful to all.
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Tom Emmer
@GOPMajorityWhip
3. Senate Banking + Finance Committees: In wake of the Infrastructure bill fiasco and misguided crypto tax amendment, key members on these committees spoke out and supported legislative fixes. This helped identify members willing to lead on crypto in the Senate.
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Tom Emmer
@GOPMajorityWhip
2. @FinancialCmte: Congress can't ignore crypto anymore. @PatrickMcHenry prioritized crypto policy for Republicans on the Committee. Maxine Waters, the Chair, followed suit to some degree, but Ds typically lean skeptical for investor protection and environmental reasons.
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Tom Emmer
@GOPMajorityWhip
Let's start with the different actors on the Hill moving crypto policy: 1. @BlockCaucus: We're a group of 40+ Republicans & Democrats who work together to advance a commonsense regulatory approach for web3. The Caucus's support has become instrumental to advancing web3 policy.
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Tom Emmer
@GOPMajorityWhip
Thanks, Gary, for protecting investors from crypto, the best performing asset class on the market. You are really helping Americans buy homes, save for college, and plan for retirement.
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SEC Chair Gary Gensler Archive
@GenslerArchive
Today we announced the new head of our Division of Investment Management @SECgov. I look forward to working closely w/ William to help ensure that investors can confidently save to buy homes, pay for college, or plan for retirement. Welcome William to the SEC family! Read more⬇️
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Tom Emmer
@GOPMajorityWhip
Crypto is facilitating Web 3.0, which gives Americans ownership over their digital lives so Big Tech can’t continue to profit off of Internet users. I’ve been working on these issues since 2015 on the @financialcmte and as co-chair of the @blockcaucus.
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Tom Emmer
@GOPMajorityWhip
Withholding approvals for Bitcoin spot ETFs only shows the SEC’s baseless & wildly inconsistent approach to regulating crypto.
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Craig Salm
@CraigSalm
Last night our attorneys at Davis Polk sent a letter to the SEC arguing that approval of #Bitcoin futures-based ETFs, but not #Bitcoin spot-based ETFs, like $GBTC, is “arbitrary and capricious,” and therefore in violation of the Administrative Procedure Act (APA).
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Tom Emmer
@GOPMajorityWhip
All my work in the crypto space, including bills like the Securities Clarity Act or Safe Harbor for Taxpayers with Forked Assets Act which @Valkenburgh mentioned today, is to give this technology, this next great innovation, a chance to thrive and for Americans to thrive with it.
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Tom Emmer
@GOPMajorityWhip
While the trading of two Bitcoin futures ETFs in October is a step forward for the millions of Americans who want to invest in crypto through traditional methods, the onus is on the SEC, now more than ever, to allow Bitcoin spot ETFs to commence trading.
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Tom Emmer
@GOPMajorityWhip
On top of that, the PWG wants stablecoin issuers to register as banks. Meanwhile, #MichaelHsu at the OCC has halted all of the progress @BrianBrooksUS made with the OCC special purpose bank charter, which would provide qualifying fintechs to operate as national banks.
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Tom Emmer
@GOPMajorityWhip
Distributed ledgers allow us to easily and accurately trace crypto. Make no mistake, cash is still king for criminals—disappointing to see @RepCleaver spread misinformation about traceability at our @FinancialCmte hearing today.
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Tom Emmer
@GOPMajorityWhip
Amazing to join leaders, innovators & trailblazers at Minnesota Blockchain’s Smart Contacts event in Minneapolis last night. The future of crypto will have a global impact, but it’s great to see the work that’s already happening in our own backyard.
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Tom Emmer
@GOPMajorityWhip
Great to join the team at @CoinDesk this morning to talk about my work to keep crypto permissionless, private & growing!
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CoinDesk
@CoinDesk
“I do believe that they are trying to gain control over the cryptocurrency industry and direct it and that really isn’t conducive to growth and entrepreneurial activity and opportunity,” @RepTomEmmer told our "First Mover" show. Report by @danielgkuhn trib.al/aDbfkot
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Tom Emmer
@GOPMajorityWhip
What is a security? What is a digital asset? How can we craft a framework that keeps crypto accessible for millions of Americans? Thank you to @faryarshirzad & the team at @Coinbase for meeting with me today to discuss the future of innovation-friendly regulations.
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Tom Emmer Jr. reposted the post below
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CoinDesk
@CoinDesk
“Crypto’s not partisan,” says @RepTomEmmer. The infrastructure bill was crypto’s gateway to the Senate floor. Where will it go next? Congressman Emmer joins #MoneyReimagined for a conversation on crypto, Coinbase and more. @mikejcasey @sheila_warren trib.al/zqVYXvx
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Tom Emmer
@GOPMajorityWhip
“The opportunities that crypto provides for people to be involved in the financial system are unlimited—if the government gets out of the way.” Listen to my conversation with @ThinkingCrypto1 about the future of crypto here⤵️ hyoutube.com/watch?v=G-y-6Z…https://t.co/qeOQ9wh0GG
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Tony Edward (Thinking Crypto Podcast)
@ThinkingCrypto1
I had a great time interviewing Congressman Tom Emmer @RepTomEmmer WATCH ▶️ hyoutu.be/G-y-6Zn_71s We discuss: - US #Crypto Regulations - Infrastructure Bill - Securities Clarity Act - #SEC #Ripple #XRP - #Bitcoin adoption and mining - #Blockchain Voting & much more @tomemmer https://t.co/jyWGpYpaAC
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Tom Emmer
@GOPMajorityWhip
I, along with bipartisan Blockchain Caucus co-chairs @RepDarrenSoto, @RepDavid, and @RepBillFoster sent a letter to every single Representative in the House raising concerns about the Senate infrastructure bill being paid for by our crypto industry.
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Tom Emmer Jr. reposted the post below
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Pat Toomey (US Sen. ret.)
@SenToomey
While I appreciate that my colleagues and the White House have acknowledged their original crypto tax had flaws, the Warner-Portman amendment picks winners and losers based on the type of technology employed. That’s horrible for innovation.
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Hester Peirce
@HesterPeirce
@nlw Nice to see @GaryGensler addressing crypto issues, but the existing securities laws don't work well for certain aspects of crypto & people's freedom to interact using new technology has produced the innovation at the core of our prosperity. Looking forward to working together.
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Tom Emmer
@GOPMajorityWhip
Bottom line: trying to offset the infrastructure package's out-of-control spending on the backs of everyday #crypto investors and innovators will do nothing but leave our country in the dust.
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CoinDesk
@CoinDesk
The new infrastructure deal in Washington includes a proposal to generate $30 billion through increased taxes on crypto transactions. @nikhileshde @realDannyNelson report trib.al/xS274sz
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Tom Emmer Jr. reposted the post below
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Financial Services GOP
@FinancialCmte
During today's #crypto hearing, #SubOI Republican Leader @RepTomEmmer & @coincenter's @valkenburgh outline GOP proposals to ensure regulatory clarity to foster innovation: ✅ The Securities Clarity Act ✅ The Digital Commodities Exchange Act 📺 Watch 👇 https://t.co/0TKSN8OMW2
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Tom Emmer
@GOPMajorityWhip
Let’s start by providing straightforward accounting standards for the growing number of American companies with #crypto on their balance sheets. You can look to the letter I sent you in May for ideas.
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FASB, GASB, and FAF
@FAFNorwalk
We need your help: What reporting issues should #FASB prioritize in order to address stakeholders' financial accounting and reporting needs? Learn more: bit.ly/2SohsDA
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Tom Emmer Jr. reposted the post below
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Rep. Darren Soto
@RepDarrenSoto
Our #blockchain & #cryptocurrency bills with @RepGuthrie & @WarrenDavidson just passed the House as part of @RepMcNerney’s #ConsumerSafetyTechnologyAct. US must remain on the forefront of emerging technologies by fostering innovation & ensuring consumer protection.
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Tom Emmer
@GOPMajorityWhip
Either we can go far together or go nowhere alone. If @RepMaxineWaters cared about furthering #crypto issues she would have reached across the aisle for her #DigitalAssets Working Group—just like we do in the bipartisan #Blockchain Caucus every day. Thanks for the invite, Maxine.
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U.S. House Committee on Financial Services
@USHouseFSC
🚨 #BREAKING 🚨- Chairwoman @RepMaxineWaters Announces #DigitalAssets Working Group | go.usa.gov/x6ndG
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Tom Emmer Jr. reposted the post below
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The Digital Chamber
@DigitalChamber
We are proud to support @RepTomEmmer in removing hurdles for donors who want to contribute #crypto to charities. His proposed solution will help charitable orgs receive donations from new sources. We are thankful for his leadership!
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Tom Emmer
@GOPMajorityWhip
Today, I wrote a letter to IRS Commissioner Charles Rettig asking him to streamline the tax structure surrounding #crypto donations so donors don’t have to have their donation appraised, but rather, can reference the easily accessible and verifiable #bitcoin exchange price.
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Tom Emmer
@GOPMajorityWhip
Virtual currency and #blockchain technology can expand access to credit for underserved and unbanked Americans. Those engaging with #Crypto should have the freedom to donate to causes they believe in, and our government should support charitable giving, not limit it.
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Tom Emmer
@GOPMajorityWhip
Great to join @CoinDesk #CDTV this morning to talk about my work to ensure regulatory certainty for everyday #crypto investors & keep innovation in the US.
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CoinDesk
@CoinDesk
"The worst thing government can do to the marketplace is create uncertainty," Minnesota Congressman @RepTomEmmer says on #CDTV, explaining the reintroduced tax protections for forked assets act. Watch the full spotlight, sponsored by @NexoFinance: coindesk.com/video/rep-tom-…
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Tom Emmer Jr. reposted the post below
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Laura Shin
@laurashin
Congressman @RepTomEmmer believes crypto “is the future.” On Unchained, he discusses: - his idea to fix BTC corporate acct. - why he believes tokens are not securities - his view on the FATF perhaps requiring DeFi devs to register as money transmitters buff.ly/3yJtcRt
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