U.S. Congressman Tom Emmer: Cryptocurrency is non-partisan, opposition is fading away

At the Consensus 2024 conference, Congressman Tom Emmer stated that cryptocurrency is not a partisan issue, but rather a question of supporting the administrative state or individuals. He pointed out that although both parties are moving towards supporting cryptocurrencies, they are doing so at different speeds. Emmer mentioned that Senate Majority Leader Chuck Schumer and another 70 Democrats support overturning SEC's SAB 121 crypto rule, indicating that opposition to cryptocurrencies from Senator Elizabeth Warren, SEC Chairman Gary Gensler and the White House may be weakening. Regarding the Financial Innovation and Technology Act (FIT21), which passed in the House on May 22nd. He said it would be more likely to pass during a lame-duck session if the Senate amends it and sends it back to the House. Emmer also noted that SEC recently approved spot Ethereum ETFs, showing a reversal in its stance and suggesting Gensler might soon step down. For digital assets, Emmer believes an ideal next step would be launching globally tradable stablecoins which could take digital asset field to a whole new level.