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.

Profile picture of Tom Emmer Jr.
Tom Emmer Jr.
@RepTomEmmer
“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
· via Twitter
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Profile picture of Tom Emmer Jr.
Tom Emmer Jr.
@RepTomEmmer
“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
· via Twitter
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Profile picture of Tom Emmer Jr.
Tom Emmer Jr.
@RepTomEmmer
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:
· via Twitter
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Tom Emmer Jr.
@RepTomEmmer
"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
· via Twitter
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Tom Emmer Jr.
@RepTomEmmer
Senators are writing legislation based on the Wall Street Journal's inaccurate reporting. Since Treasury has accurate data, it has an obligation to correct the record on the size of Hamas's digital asset fundraising efforts.
· via Twitter
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Tom Emmer Jr.
@RepTomEmmer
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.
· via Twitter
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Tom Emmer Jr.
@RepTomEmmer
My amendment prohibits the SEC from using taxpayer-funded resources to pursue enforcement actions against the digital asset industry until Congress passes legislation that authorizes regulatory enforcement jurisdiction.
· via Twitter
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Tom Emmer Jr.
@RepTomEmmer
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.
· via Twitter
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Profile picture of Tom Emmer Jr.
Tom Emmer Jr.
@RepTomEmmer
Why: The administration has made it clear: President Biden is willing to compromise the American people’s right to financial privacy for a surveillance-style CBDC. I don’t believe in compromising Americans’ rights.
· via Twitter
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Profile picture of Tom Emmer Jr.
Tom Emmer Jr.
@RepTomEmmer
"The Blockchain Regulatory Certainty Act ensures American digital asset innovations can continue to thrive here in the United States. We urge members of the committee to vote in favor of this bill." - @BlockchainAssn
· via Twitter
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Cosponsored a bill on Jul 20th, 2023
Bill Name
Financial Innovation and Technology for the 21st Century Act

Details
To provide for a system of regulation of digital assets by the Commodity Futures Trading Commission and the Securities and Exchange Commission, and for other purposes.
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Profile picture of Tom Emmer Jr.
Tom Emmer Jr.
@RepTomEmmer
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:
· via Twitter
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Tom Emmer Jr.
@RepTomEmmer
@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.
· via Twitter
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Tom Emmer Jr.
@RepTomEmmer
@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.
· via Twitter
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Tom Emmer Jr.
@RepTomEmmer
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
· via Twitter
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Profile picture of Tom Emmer Jr.
Tom Emmer Jr.
@RepTomEmmer
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.
· via Twitter
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Tom Emmer Jr.
@RepTomEmmer
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.
· via Twitter
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Tom Emmer Jr.
@RepTomEmmer
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.
· via Twitter
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Profile picture of Tom Emmer Jr.
Tom Emmer Jr.
@RepTomEmmer
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.
· via Twitter
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Tom Emmer Jr.
@RepTomEmmer
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.
· via Twitter
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Profile picture of Tom Emmer Jr.
Tom Emmer Jr.
@RepTomEmmer
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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· via Twitter
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Profile picture of Tom Emmer Jr.
Tom Emmer Jr.
@RepTomEmmer
If that is the case, the US would be a large digital asset holder, able to materially impact market trends through sales or purchases. Congress must have insight from the Fed so we can establish informed regulatory guidelines.
· via Twitter
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Profile picture of Tom Emmer Jr.
Tom Emmer Jr.
@RepTomEmmer
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.
· via Twitter
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Profile picture of Tom Emmer Jr.
Tom Emmer Jr.
@RepTomEmmer
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.
· via Twitter
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Profile picture of Tom Emmer Jr.
Tom Emmer Jr.
@RepTomEmmer
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.
· via Twitter
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Profile picture of Tom Emmer Jr.
Tom Emmer Jr.
@RepTomEmmer
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…
· via Twitter
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Profile picture of Tom Emmer Jr.
Tom Emmer Jr.
@RepTomEmmer
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.
· via Twitter
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