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U.S. Congressman Tom Emmer: Cryptocurrency is not a partisan issue, opposition is fading

CointimeCointime2024/05/30 06:01
By:Cointime

US Congressman Tom Emmer stated at the 2024 Consensus Conference that cryptocurrency is not a partisan issue, but rather a question of whether to support the government or individuals. Although both parties are moving towards supporting cryptocurrency, the speed differs.Emmer mentioned that Senate Majority Leader Chuck Schumer and 70 other Democrats support overturning the SEC's SAB 121 encryption rule, indicating that Senator Elizabeth Warren, SEC Chairman Gary Gensler, and the White House's opposition to cryptocurrency may be weakening. Emmer repeatedly complained about Warren "making a lot of decisions in the White House."Regarding the 21st Century Financial Innovation and Technology Act (FIT21), Emmer believes Schumer may introduce this bill in the Senate, which passed the House on May 22. He said that if the Senate modifies and sends the bill back to the House, it is more likely to pass during the lame-duck session. (Note: In the United States, the period between the November presidential and congressional elections and the swearing-in of newly elected officials in the following year is known as the lame-duck session.)Emmer also mentioned that the SEC recently approved a spot Ethereum ETF, showing a reversal of the agency's stance, and believes that Gensler may soon be leaving his position, adding, "We need to be highly cautious about believing someone who is desperate."Regarding digital assets, Emmer believes the next ideal step is to introduce a globally tradable stablecoin, which will take the digital asset field to a whole new level.

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