Future of Bitcoin and Crypto Will Be Determined by Congress – Not the Biden Administration, Says House GOP Leader

A Republican House leader says Congress will shape the future of Bitcoin (BTC) and cryptocurrency in the US – not the White House.

House majority whip Tom Emmer is outlining a list of pro-crypto proposals making their way through the House of Representatives that he believes would bring constructive clarity to the emerging industry.

And the Minnesota Representative is sharing his thoughts on the Biden Administration’s attack on 50 million Americans who own digital assets.

“President Biden [has a] political plan to lawlessly abuse the administrative state to push American crypto firms and their United States customers into offshore, unregulated, opaque, and unsafe markets.

These recent actions are an explicit display of what Congress and the American people already notice: this Administration is weaponizing the banking sector to de-bank legal crypto activity here in the US using scare tactics to run an entire industry out of the country.”

Emmer, who is a member of the powerful House Financial Service Committee, which oversees the actions of the Federal Reverse and, the U.S. Securities and Exchange Commission (SEC), as well as the U.S. Department of Treasury, says the Biden Administration is trying to dominate the American people and restrict their financial freedoms.

“Clearly, the Administration’s policies are motivated by a thirst for increased control over the American people.”

Emmer is shining a light on the pro-crypto bills he’s proposed in Congress, reminding his 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.

The CBDC Anti-Surveillance State Act.

The future of crypto in the US will be determined by Congress and the American People – not the Administrative State.”

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Source: https://dailyhodl.com/2023/03/10/future-of-bitcoin-and-crypto-will-be-determined-by-congress-not-the-biden-administration-says-house-gop-leader/