Tom Emmer takes on the role of Vice President of Digital Assets, expressing strong concerns about the SEC's current oversight practices.
On January 14, Tom Emmer, US attorney and congressman specific As Vice Chair of the Subcommittee on Digital Assets, FinTech, and Artificial Intelligence.
Formed in 2023, the subcommittee is charged with overseeing the development and regulation of crypto assets, studying the integration of artificial intelligence in financial services, and exploring advances in financial technology.
The 63-year-old congressman expressed his honor in the new position, noting that under his leadership, he will ensure that “the future of digital assets is guided by Americans, with American values.”
During his announcement, he harshly criticized Emmer Outgoing With Gary Gensler “remaining in the trash in Washington,” there is now an opportunity to more effectively steer the future of digital assets under American leadership, SEC Chairman Gary Gensler said.
Gensler, a polarizing figure in the cryptocurrency world, will end his term concurrently with... opening Donald Trump becomes the 47th President of the United States on January 20 replacing Written by Paul Atkins, a former SEC commissioner known for his pro-crypto stance.
According to him biographyEmmer, born in 1961, went on to serve as a member of the House Majority Committee and a member of the House Financial Services Committee. He was Chairman of the National Republican Congressional Committee during the 116th and 117th Congresses.
Emer was also part of FIT21 Billwhich created the term “digital commodity” for cryptocurrencies and clarified the SEC’s role in regulating them. Overall, the congressman has been an advocate for cryptocurrency-friendly laws.
Moreover, in Consensus 2024At a cryptocurrency conference in Austin, Texas, Emmer said cryptocurrencies are “nonpartisan and here to stay.”
In a 2023 post on He called for using Congressional resources to support and expand opportunities within this sector.
In 2018, he repealed some provisions of the law Dodd Frank represents. The law sought to provide some regulatory relief to small banks and credit unions, thus giving them greater ability to serve their local communities.
Emmer is one of several choices among other pro-crypto elected officials such as Patrick McHenry, Senator John Thune, and Brian Steppbut not limited to. like Donald Trump The cryptocurrency industry is set to take office on January 20, and is bracing for a potential shift in regulatory and legislative attention: Republican majorities in both chambers provide renewed hope that things will become friendlier in terms of politics.
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