The future of Bitcoin and Crypto will be decided by Congress — not the Biden administration, says the House GOP leader
A Republican House leader says Congress will shape the future of Bitcoin (BTC) and cryptocurrency in the United States — not the White House.
The house majority’s whip is Tom Emmer sketch a list of pro-crypto proposals moving through the House of Representatives that he believes will bring constructive clarity to the emerging industry.
And the Minnesota representative shares his thoughts on the Biden administration’s crackdown on 50 million Americans who own digital assets.
“President Biden [has a] political plan to unlawfully abuse the administrative state to push US crypto firms and their clients in the US into offshore, unregulated, opaque and insecure markets.
These recent actions are an explicit display of what Congress and the American people are already noticing: this administration is weaponizing the banking sector to quash legal crypto activity here in the United States by using scare tactics to drive an entire industry out of the country.”
Emmer, who is a member of the House Financial Services Committee, which oversees the actions of the Federal Reverse and the US Securities and Exchange Commission (SEC), as well as the US Treasury Department, says the Biden administration is trying to dominate the American people and limit their financial freedoms .
“It is clear that the administration’s policies are motivated by a thirst for increased control over the American people.”
Emmer sheds light on the pro-crypto bills he has proposed in Congress, reminding the audience that Congress has the ultimate authority to make laws 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.
CBDC Anti-Surveillance State Act.
The future of crypto in the US will be decided by Congress and the American people – not the administrative state.”
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Featured image: Shutterstock/Tuso chakma/LongQuattro
