Author: Martin Young, CoinTelegraph; Compiler: Wuzhu, Golden Finance
U.S. Representative Tom Emmer has been appointed Vice Chairman of the House Subcommittee on Digital Assets, Fintech, and Artificial Intelligence.
The Minnesota Republican said on X on January 15: “With President Trump in the White House and Gary Gensler locked up in a dumpster in Washington, we have an excellent opportunity to ensure that the future of digital assets is guided by Americans and in line with American values.”
The 119th Congressional Subcommittee of the House Financial Services Committee and the subcommittee’s assignment were announced on January 14 by committee chairman French Hill.
The subcommittee was established in 2023 to oversee the development and use of crypto-assets and related financial technologies, and to review the use and development of artificial intelligence in financial services.
“Under the leadership of a proactive and knowledgeable Chairman and Vice Chairman, we are well prepared to address the critical challenges ahead,” Hill said, adding:
“Our Committee will work together to develop a regulatory framework that protects consumers and investors while maintaining America’s leadership in innovation, aligning the regulatory system to include community banks, and ensuring our agencies are accountable to their statutory missions.”
Source: Tom Emmer
Earlier in January, Congressman Bryan Steil was selected to chair the Financial Services Subcommittee. In September, the Wisconsin congressman said that U.S. lawmakers “must” move forward with the development of a regulatory framework for cryptocurrencies.
French Hill also said that one of the committee’s priorities for 2025 will be to develop a regulatory framework for crypto assets.
The House and Senate are preparing for the inauguration of President-elect Donald Trump on January 20, and some cryptocurrency industry executives expect that executive orders related to digital assets may be issued soon.
This week, in an interview with ABC News, House Majority Whip Emmer pledged to implement Donald Trump’s agenda, calling it a task to address spending, inflation and global stability.
“The public wants us to address excessive spending, debt and deficits, which have led to double-digit inflation early in Biden’s term,” he said.
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