The future of Bitcoin and cryptocurrencies in the US will be shaped by Congress, not the White House, according to a Republican House leader.
Tom Emmer, the majority whip in the House, is detailing a list of pro-crypto bills that are now being considered by the House of Representatives and that he feels will offer positive clarity to the developing sector.
Moreover, the Minnesota Congressman expresses his opinions regarding the Biden Administration's criticism of the 50 million Americans who own digital assets.
“President Biden [has a] political plan to lawlessly abuse the administrative state to push American crypto firms and their United States customers into offshore, unregulated, opaque, and unsafe markets. These recent actions are an explicit display of what Congress and the American people already notice: this Administration is weaponizing the banking sector to de-bank legal crypto activity here in the US using scare tactics to run an entire industry out of the country.”
The Biden Administration, according to Emmer, who serves on the influential House Financial Services Committee, which regulates the Federal Reserve, the Securities and Exchange Commission, and the U.S. Department of Treasury, is attempting to control the American people and limit their financial freedoms.
