The post Crypto Laws Are Coming No Matter Who Wins Election: Rep. Tom Emmer appeared on BitcoinEthereumNews.com.

One of crypto’s most prominent advocates in Congress, House Majority Whip Tom Emmer (R-MN), has big plans for the industry should Republicans gain control of all branches of federal government in November. However, he also appears convinced that cryptocurrency regulation is coming to the United States regardless of how the election shakes out. “Regardless of the outcome, I expect you to see digital asset legislation start to move in both bodies,” Emmer told Decrypt at the Messar Mainnet conference in New York this week. “I think it is ‘when,’ not ‘if,’ regardless of who’s in charge.” The third-highest-ranking House Republican ascribes much credit for this rosy outlook to recent changes in tune on both sides of the aisle in Congress. This spring, a substantial number of Democrats, including Senate Majority Leader Chuck Schumer, joined Republicans to vote to overturn an anti-crypto banking rule. Days later, 71 Democrats including Nancy Pelosi voted to pass FIT21, a key crypto market structure bill.  Just last week, Emmer’s most senior adversary on the House Financial Services Committee, Maxine Waters (D-CA), told Punchbowl News that “crypto is inevitable.” Waters, for context, was a steadfast opponent of bills like FIT21 just months ago. “That’s a momentous statement by Maxine,” Emmer said. Why have so many Democrats changed their tune on crypto this year? Emmer thinks it comes down to electoral politics, and realizing that younger voters may be casting a ballot with crypto in mind. “They saw that there’s this voting bloc, age 18 to 40, and [for] maybe one out of five of them… this is the issue they’re going to be voting on,” the congressman said.  While Emmer is now confident that crypto legislation is more or less inevitable, he maintains that Republican “trifecta” control of the House, the Senate, and the White House…

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Filed under: News - @ October 1, 2024 11:25 pm