Tom Emmer, the majority whip of the United States House of Representatives and a proponent of crypto, believes that digital assets have become a significant issue in U.S. politics. Emmer spoke with Cointelegraph at the Permissionless II conference in Austin, Texas, expressing concern that some candidates running for office in 2024 may underestimate the impact of crypto and blockchain-related issues.
Emmer specifically mentioned financial privacy concerns, focusing on government oversight of central bank digital currencies (CBDCs). He emphasized that the issue of personal information privacy resonates across different political ideologies, with many individuals believing that personal information should be protected and shared at their discretion.
Emmer highlighted a generational divide in the United States, suggesting that residents could oppose policies that hinder the growth of the digital space. He expressed hope that such opposition could bring attention to any lawmakers who lack technological awareness. Several candidates from both major U.S. political parties have already taken positions on CBDCs for the upcoming 2024 race.
One candidate of note is Florida Governor Ron DeSantis, who has pledged to ban CBDCs in the U.S. if elected. Governor DeSantis previously signed a bill in Florida that restricts the use of a federally issued digital dollar in the state. Other candidates who oppose CBDCs include Republican Vivek Ramaswamy and Democrat Robert F. Kennedy Jr., though they are considered longshots in the race.
Emmer emphasized the need for careful consideration of laws and regulations surrounding CBDCs, stating that any potential central bank digital currency should prioritize openness, permissionlessness, and privacy. He believes that it should emulate the characteristics of cash.
In his efforts to influence policy, Emmer has reintroduced a bill aimed at limiting the Federal Reserve’s ability to issue a CBDC in the United States. He has also supported an appropriations amendment for the Securities and Exchange Commission’s funds, which could restrict the commission’s ability to enforce actions on crypto firms.
On September 20, the House Financial Services Committee will meet to discuss the Digital Dollar Pilot Prevention Act. This legislation could prevent the Federal Reserve from initiating CBDC pilot programs without approval from Congress. The committee recently held a hearing on CBDCs for the first time since Congress’ August recess.
Tom Emmer’s stance on crypto and blockchain-related issues reflects the growing importance of digital assets in U.S. politics. It remains to be seen how these issues will shape the political landscape leading up to the 2024 race.
Sources:
– [Tom Emmer](https://cointelegraph.com/top-people-in-crypto-and-blockchain-2023/tom-emmer)
– [Ron DeSantis vows to ban CBDC in the US](https://cointelegraph.com/news/ron-desantis-vows-to-ban-cdbc-in-the-us)
– [Florida Governor signs CBDC bill into law](https://cointelegraph.com/news/florida-governor-signs-cbdc-bill-into-law-restricting-some-uses-of-us-and-foreign-cbdcs)
– [Blockchain could authenticate AI as crypto racks up court victories: Rep. Emmer](https://cointelegraph.com/news/blockchain-could-authenticate-ai-as-crypto-racks-up-court-victories-rep-emmer)
– [Tom Emmer reintroduced a bill](https://cointelegraph.com/news/tom-emmer-anti-cbdc-bill-reintroduced)
– [Congressman Tom Emmer seeks amendment to limit SEC crypto oversight](https://cointelegraph.com/news/congressman-tom-emmer-seeks-amendment-to-limit-sec-crypto-oversight)
– [House Financial Services Committee witnesses air multiple anti-CBDC arguments](https://cointelegraph.com/news/house-financial-services-committee-witnesses-air-multiple-anti-cbdc-arguments)
– [Opinion: GOP crypto maxis almost as bad as Dems’ ‘anti-crypto army’](https://cointelegraph.com/magazine/opinion-republican-crypto-maxis-democrat-anti-crypto-army-mchenry-warren)
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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