U.S. Lawmaker Pushes for Crypto Growth
House Majority Whip Tom Emmer (R-MN) has called on Congress to focus on shaping cryptocurrency laws following the Department of Justice’s settlement with Binance, the world’s largest cryptocurrency exchange, and its CEO Changpeng Zhao (CZ).
“The successful prosecution shows that current laws are suitable to help weed out bad actors,” Emmer explained. He believes that resources should be used for bringing more crypto activity and opportunities to the U.S. to bolster national security.
Emmer’s Push for Crypto-Friendly Laws
Emmer has been advocating for laws that benefit the crypto sector. The House of Representatives recently adopted an amendment he attached to limit the authority of the SEC to carry out enforcement actions against the crypto industry. In September, his CBDC Anti-Surveillance State Act passed the House Financial Services Committee, halting the government’s efforts to issue a financial surveillance tool.
Emmer and other lawmakers have also been pushing to oust SEC Chairman Gary Gensler, supporting the SEC Stabilization Act aimed at firing him.
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