In the News

Today, Majority Whip Tom Emmer (R-Minn.) joined House Republican leadership to discuss Crypto Week, during which the House will vote on the CLARITY Act, the GENIUS Act, and Whip Emmer’s Anti-CBDC Surveillance State Act.

Click here or above to watch Whip Emmer’s remarks.

Whip Emmer: “This week, we are delivering on President Trump’s promise to make America the crypto capital of the world. For too long, digital asset innovation in this country has been stifled by ambiguous rules, instability, and the Biden administration’s anti-crypto crusade. Now, we have the opportunity to pass comprehensive, nonpartisan digital asset legislation that will unlock the next era of American innovation, protect consumers, and strengthen the U.S. dollar. Where ambiguity and unclear jurisdiction have stifled blockchain innovation, the CLARITY Act will create a much-needed regulatory framework for the digital asset marketplace. Doing this not only gives builders and firms the rules of the road, it also ensures consumers are protected against fraud and bad actors. And the Senate’s GENIUS Act will peg stablecoins to a stable currency like the U.S. dollar—opening the door for the United States to lead the world in digital finance. A dollar-backed stablecoin will promote innovation and market confidence, while protecting consumers from risk and financial instability. The House will also vote on our Anti-CBDC Surveillance State Act, which bans the Fed from issuing a Central Bank [Digital] Currency. Under the Biden administration, financial surveillance gained a foothold in the United States, as they explored the creation of a CBDC. CBDC’s are already used by governments like the Chinese Communist Party to monitor, track, and judge the financial actions of its citizens. A CBDC would be nothing more than a surveillance tool that could threaten our very way of life. We can't let that happen. These three nonpartisan bills are the culmination of years of work in Congress, and especially in the House. Together, they will launch America to the top of the digital asset innovation world and fulfill our promise of making America the crypto capital of the world. We’ve waited long enough—we must take hold of this opportunity now. This is the week.”