The US House of Representatives has appointed a vice chair who will lead the congressional subcommittee charged with overseeing proposed policies and measures related to cryptocurrencies. The House of Representatives of the US Congress recently announced subcommittee appointments for the 119th US Congress ahead of the upcoming inauguration of President-elect Donald Trump who pledged during the campaign to impose pro-crypto policies.
New Chairman of the Cryptocurrency Subcommittee
This was revealed by the US House of Representatives representative. Tom Emmer The Vice Chair of Minnesota’s 6th Congressional District will serve as Vice Chairman of the House Subcommittee on Digital Assets, FinTech, and Artificial Intelligence.
I am honored to be selected as Vice Chair of the Subcommittee on Digital Assets, FinTech, and Artificial Intelligence.
With President Trump in the White House, and Gary Gensler still in the trash can in Washington, we have an excellent opportunity to…
– Tom Emmer (@GOPMajorityWhip) January 15, 2025
In a statement, House Financial Services Committee Chairman French Hill announced the appointments of vice chairs and the US Legislators Subcommittee for the 119th Congress under his congressional committee, and Emmer was among those appointed as vice chair.
“With energetic and knowledgeable Chairs and Vice Chairs leading our subcommittees, we are prepared to meet the critical challenges ahead. Together, our committee will work to formulate an organizational framework (…) and ensure that our agencies are accountable for their legally directed missions,” Hill said in a published press release.
Analysts believed that Emmer’s appointment was known Cryptocurrency The advocate underscores the US Congress’s trend of formulating policies governing digital assets and financial innovation, and is consistent with the Trump administration’s position on the cryptocurrency sector.
Clarity in coding
Many market watchers believe that regulatory clarity in the cryptocurrency sector will become more possible with Emmer leading the subcommittee dealing with digital assets.
In his leadership role, Emmer can help shape and influence legislative measures and regulations that will guide the digital assets and fintech sectors.
“I am honored to be selected as Vice Chair of the Subcommittee on Digital Assets, FinTech, and Artificial Intelligence,” Emmer said in a post.
The legislator believes that the current political environment is… Trump administration It will be an excellent opportunity to shape the future of the US cryptocurrency landscape.
“With President Trump in the White House, and Gary Gensler still in the dustbin in Washington, we have an excellent opportunity to ensure that the future of digital assets is guided by Americans, with American values,” he added in X’s post.
Trump’s position on cryptocurrencies
During the campaign, Trump pledged to simplify cryptocurrency regulations to help the sector flourish and prosper under his government, transforming the country into an international leader in digital asset innovation.
“The public expects us to deal with the excessive spending, debt, and deficits that led to inflation exceeding 10% at the beginning of Biden’s term. They asked Donald Trump to close the southern border, and they want peace and stability around the world.”
Featured image from CNN, chart from TradingView