The future of bitcoin and crypto will be determined by Congress — not the Biden administration, House GOP leader says
A Republican House leader says Congress will shape the future of Bitcoin (BTC) and cryptocurrency in the US – not the White House.
House majority whip Tom Emmer outlines a list of pro-crypto proposals making their way through the House of Representatives that he believes would bring constructive clarity to the burgeoning industry.
And the Minnesota representative shares his thoughts on the Biden administration’s attack on 50 million Americans who own digital assets.
“President Biden [has a] political plan to lawlessly abuse the administrative state to force American crypto firms and their US clients into offshore, unregulated, opaque and insecure markets.
These recent actions are a stark representation of what Congress and the American people are already noticing: This administration is arming the banking sector to debank legal crypto activity here in the US, using fear tactics to oust an entire industry from the country. ”
Emmer, who is a member of the powerful House Financial Service Committee that oversees actions by the Federal Reverse and the US Securities and Exchange Commission (SEC) and the US Treasury Department, says the Biden administration is trying to dominate the American people and restrict its financial freedoms.
“The policies of the US government are clearly motivated by a desire for more control over the American people.”
Emmer highlights the pro-crypto laws he has proposed in Congress, reminding his audience that Congress has the ultimate authority to legislate regarding digital assets, not the Executive Branch.
“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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