Author: Martin Young, CoinTelegraph; Translated by Wuzhu, Jinse Finance
U.S. Representative Tom Emmer has been appointed as the Vice Chair of the House Digital Assets, Financial Technology and Inclusion Subcommittee.
The Minnesota Republican said on X on January 15th: "With President Trump in the White House and Gary Gensler in the dumpster in Washington, we have a tremendous opportunity to ensure the future of digital assets is led by Americans and aligned with American values."
The appointment of the Vice Chair and Subcommittee mandate for the 119th Congress Subcommittee of the House Financial Services Committee was announced by Committee Chair Maxine Waters on January 14th.
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 advancement of artificial intelligence in financial services.
"Under the leadership of an engaged and knowledgeable Chair and Vice Chair, we are poised to tackle the critical challenges ahead," Waters said, adding:
"Our Committee will work together to develop a regulatory framework that maintains America's leadership in innovation while protecting consumers and investors, modernize the regulatory system including for community banks, and ensure our institutions are accountable to their statutory missions."
Source: Tom Emmer
Earlier this month, Congressman Bryan Steil was selected as the Chair of the Financial Services Subcommittee. In September, the Wisconsin Representative stated that U.S. lawmakers "must" advance a regulatory framework for cryptocurrencies.
Maxine Waters also stated that one of the Committee's priorities for 2025 will be to establish a regulatory framework for crypto asset markets.
The House and Senate are preparing for the inauguration of President-elect Donald Trump on January 20th, and some crypto industry executives anticipate 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 execute Donald Trump's agenda, saying it is the task of addressing overspending, inflation, and global stability.
He said: "The public wants us to solve the problems of overspending, debt, and deficits, which have led to double-digit inflation in the early Biden administration."
