Congressman Tom Emmer, a well-known advocate for the cryptocurrency industry, has been named Vice Chair of the House Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence.
Committee Chairman French Hill made the announcement on January 14 as part of the House Financial Services Committee’s subcommittee assignments for the 119th Congress.
Emmer expressed his enthusiasm for the role in a January 15 X post, stating:
With President Trump in the White House, and Gary Gensler confined to the waste bin of Washington, we have an excellent opportunity to ensure that the future of digital assets is guided by Americans, with American values.
He added that he looks forward to collaborating with his colleagues to create a regulatory environment that supports innovation in the crypto sector.
The Digital Assets Subcommittee, established in 2023, oversees the development of cryptocurrencies, financial technologies, and AI applications in financial services.
In his announcement, Hill highlighted the divisions mission to maintain the United States leadership in technological innovation. The entity also prioritizes consumer and investor protections, optimizing regulations for community banks and ensuring regulatory agencies adhere to their statutory mandates.
The Minnesota Republican has consistently defended the crypto industry, actively opposing strict federal regulations on digital assets and proposing legislation designed to promote innovation and provide clarity for market participants.
Among his notable initiatives is the CBDC Anti-Surveillance State Act, which limits the Federal Reserves ability to issue a central bank digital currency (CBDC) without Congressional approval.
The 63-year-old has also been an outspoken critic of outgoing Securities and Exchange Commission (SEC) head Gary Gensler, accusing him of regulatory overreach. He has previously referred to the Democratic appointees tenure as the most destructive and lawless in history.
This development comes even as the House and Senate are advancing their agendas in preparation for President-elect Donald Trumps inauguration on January 20.
According to a January 13 report from The Washington Post, Trump plans to sign some crypto executive orders shortly after taking office. They will reportedly address issues like crypto de-banking and possibly repeal a policy that requires banks holding cryptocurrencies to list the assets as liabilities.
Recent initiatives, such as the formation of the Senate Banking Committes first crypto division and Emmers appointment, could be viewed as proof of the administration’s commitment to supporting the digital asset industry. Additionally, these moves align with Trumps promise to establish the United States as the crypto capital of the world.
