Key Takeaways
- Rep. Tom Emmer has been appointed vice chairman of the House Subcommittee on Digital Assets.
- Emmer is a known crypto advocate, opposing strict federal regulations on digital assets.
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Rep. Tom Emmer has been appointed vice chairman of the House Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence, FOX Business journalist Eleanor Terrett said Tuesday. The appointment comes after Rep. Bryan Steil was named chair of the subcommittee last week.
“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,” Emmer said in a statement.
The subcommittee’s jurisdiction covers digital assets, stablecoins, central bank digital currencies (CBDCs), innovative financial technologies including mobile banking and non-fungible tokens (NFTs), and the implications of AI in finance.
Emmer, who will collaborate with Rep. French Hill and Rep. Steil on legislative and regulatory matters, expressed his commitment to fostering “an environment where digital asset innovation can thrive.”
A known crypto advocate in Congress, Emmer has consistently opposed strict federal regulations on digital assets. He has proposed several crypto-related bills, focusing on regulatory clarity. One of the best known is the CBDC Anti-Surveillance State Act.
This legislation, which passed the House on May 23, 2024, seeks to prohibit the Fed from issuing a CBDC that could enable government surveillance of individual spending habits. The bill will protect privacy and ensure that digital currency policy remains in the hands of the American people rather than unelected bureaucrats, Emmer has said.
Following its passage in the House, the bill now moves to the Senate for consideration.
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