Rep. Tom Emmer Named Vice Chairman of House AI and Digital Assets Subcommittee

Key takeaways

Rep. Tom Emmer has been named vice chairman of the House Digital Assets Subcommittee.
Emmer is a well-known cryptocurrency advocate and opposes strict federal regulations on digital assets.

Rep. Tom Emmer has been named vice chairman of the House Subcommittee on Digital Assets, Financial technology and artificial intelligence, FOX Business reporter Eleanor Terrett said Tuesday. The appointment comes after Rep. Bryan Steil was named subcommittee chairman last week.

“With President Trump in the White House and Gary Gensler confined to the Washington dumpster, we have an excellent opportunity to ensure that the future of digital assets is guided by Americans, with American values,” Emmer said in a <a target="_blank" target="_blank" href="https://x.com/GOPMajorityWhip/status/1879319142303498579″ rel=”noopener nofollow noreferrer”>statement.

The subcommittee's jurisdiction covers digital assets, stablecoins, central bank digital currencies (CBDCs), innovative financial technologies, including mobile banking and non-fungible tokens (nfts), and the implications of ai in finance.

Emmer, who will collaborate with Representatives French Hill and Steil on legislative and regulatory matters, expressed his commitment to fostering “an environment where digital asset innovation can thrive.”

Emmer, a well-known cryptocurrency advocate in Congress, has consistently opposed strict federal regulations on digital assets. He has proposed several bills related to cryptocurrencies, focusing on regulatory clarity. One of the best known is the CBDC State Anti-Surveillance Law.

This legislation, which passed the House on May 23, 2024, seeks to prohibit the Federal Reserve from issuing a CBDC that could enable government surveillance of individual spending habits. The bill will protect privacy and ensure that digital currency policy remains in the hands of the American people and not unelected bureaucrats, Emmer said.

Following its passage in the House, the bill now goes to the Senate for consideration.