The House GOP’s majority whip and crypto’s biggest supporter on Capitol Hill, Tom Emmer, is back in the ring with his “Central Bank Digital Currency Anti-Surveillance State Act.” 🧢
The bill aims to slam the brakes on the Federal Reserve’s aspirations of directly offering a CBDC to the public. Emmer’s rallying cry? Keep digital dollars as American as bald eagles and freedom fries, or risk creating the ultimate surveillance tool.
Five crypto bills, including the Financial Innovation and Technology (FIT) for the 21st Century Act and the Clarity for Payment Stablecoins Act, are inching their way toward a full House vote.
In a nutshell: Emmer’s on a mission to keep CBDCs from becoming Big Brother’s new pet project, Congress is still playing 3D chess with crypto regulation, and Gensler’s gearing up for more regulatory showdowns. 🥊