{"id":38271,"date":"2025-03-12T12:30:37","date_gmt":"2025-03-12T09:30:37","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=38271"},"modified":"2025-03-12T12:16:24","modified_gmt":"2025-03-12T09:16:24","slug":"tom-emmer-us-should-support-pro-stablecoin-legislation","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/tom-emmer-us-should-support-pro-stablecoin-legislation\/","title":{"rendered":"Tom Emmer: &#8220;US Should Support Pro-Stablecoin Legislation!&#8221;"},"content":{"rendered":"<p data-start=\"79\" data-end=\"315\"><strong data-start=\"79\" data-end=\"110\">US Representative Tom Emmer<\/strong> argued for prioritizing pro-stablecoin legislation in a <strong data-start=\"167\" data-end=\"179\">March 11<\/strong> House Financial Services Committee hearing while calling <strong data-start=\"237\" data-end=\"280\">central bank digital currencies (CBDCs)<\/strong> a threat to <strong data-start=\"293\" data-end=\"305\">American<\/strong> values.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/tom-emmer-us-should-support-pro-stablecoin-legislation\/#CBDC_Anti-Surveillance_Law_Reintroduced\" title=\"CBDC Anti-Surveillance Law Reintroduced\">CBDC Anti-Surveillance Law Reintroduced<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/tom-emmer-us-should-support-pro-stablecoin-legislation\/#Paxos_CEO_Calls_for_Stablecoin_Regulations\" title=\"Paxos CEO Calls for Stablecoin Regulations\">Paxos CEO Calls for Stablecoin Regulations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/tom-emmer-us-should-support-pro-stablecoin-legislation\/#Crypto_Companies_Political_Influence_Grows\" title=\"Crypto Companies&#8217; Political Influence Grows\">Crypto Companies&#8217; Political Influence Grows<\/a><\/li><\/ul><\/nav><\/div>\n<h2 data-start=\"317\" data-end=\"366\"><span class=\"ez-toc-section\" id=\"CBDC_Anti-Surveillance_Law_Reintroduced\"><\/span>CBDC Anti-Surveillance Law Reintroduced<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"368\" data-end=\"706\">On <strong data-start=\"371\" data-end=\"382\">March 6<\/strong>, <strong data-start=\"384\" data-end=\"393\">Emmer<\/strong> reintroduced the <strong data-start=\"411\" data-end=\"447\">CBDC Anti-Surveillance State Act<\/strong> in the <strong data-start=\"455\" data-end=\"483\">House of Representatives<\/strong>. At the <strong data-start=\"492\" data-end=\"504\">March 11<\/strong> hearing, <strong data-start=\"514\" data-end=\"523\">Emmer<\/strong> renewed his call for <strong data-start=\"545\" data-end=\"557\">Congress<\/strong> to pass the legislation. The bill aims to prevent future administrations from launching a <strong data-start=\"648\" data-end=\"659\">US CBDC<\/strong> without explicit <strong data-start=\"677\" data-end=\"694\">Congressional<\/strong> approval.<\/p>\n<p data-start=\"708\" data-end=\"892\"><strong data-start=\"708\" data-end=\"717\">Emmer<\/strong> stated that <strong data-start=\"730\" data-end=\"738\">CBDC<\/strong> technology is inherently <em>&#8220;un-American&#8221;<\/em>, warning that allowing unelected bureaucrats to issue a <strong data-start=\"838\" data-end=\"846\">CBDC<\/strong> <em>&#8220;could upend the American way of life.&#8221;<\/em><\/p>\n<p data-start=\"894\" data-end=\"1313\">On <strong data-start=\"897\" data-end=\"911\">January 23<\/strong>, <strong data-start=\"913\" data-end=\"929\">Donald Trump<\/strong> signed an executive order prohibiting <em>&#8220;the establishment, issuance, circulation, and use&#8221;<\/em> of a <strong data-start=\"1029\" data-end=\"1037\">CBDC<\/strong> in <strong data-start=\"1041\" data-end=\"1052\">America<\/strong>. <strong data-start=\"1054\" data-end=\"1063\">Emmer<\/strong> said that his reintroduced legislation could <em>&#8220;prevent a future administration from creating such an obvious tool for financial surveillance against its own citizens&#8221;<\/em> if signed into law, citing concerns about privacy and financial independence.<\/p>\n<p data-start=\"894\" data-end=\"1313\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/watcher.guru\/news\/wp-content\/uploads\/2023\/03\/tom-emmer.jpeg\" alt=\"Emmer\" width=\"1500\" height=\"1000\" \/><\/p>\n<hr \/>\n<p data-start=\"1315\" data-end=\"1367\"><strong><em>You Might Be Interested In: <a href=\"https:\/\/coinengineer.net\/blog\/elon-musk-talks-about-the-name-of-a-new-memecoin\/\">Elon Musk Talks About the Name of a New Memecoin!<\/a><\/em><\/strong><\/p>\n<hr \/>\n<h2 data-start=\"1315\" data-end=\"1367\"><span class=\"ez-toc-section\" id=\"Paxos_CEO_Calls_for_Stablecoin_Regulations\"><\/span>Paxos CEO Calls for Stablecoin Regulations<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"1369\" data-end=\"1664\">At the same hearing, <strong data-start=\"1390\" data-end=\"1399\">Paxos<\/strong> CEO <strong data-start=\"1404\" data-end=\"1426\">Charles Cascarilla<\/strong> urged lawmakers to create <strong data-start=\"1453\" data-end=\"1490\">consistent stablecoin regulations<\/strong> across jurisdictions to avoid <strong data-start=\"1521\" data-end=\"1545\">regulatory arbitrage<\/strong>. <strong data-start=\"1547\" data-end=\"1556\">Paxos<\/strong>, a major <strong data-start=\"1566\" data-end=\"1580\">stablecoin<\/strong> issuer, recommended clear guidelines and reciprocal rules with global regulators:<\/p>\n<p data-start=\"1369\" data-end=\"1664\"><em>&#8220;We want to make sure we have the same set of rules in the US as we have around the world so that there isn\u2019t some arbitrage that is possible to issue from another jurisdiction. And by having that same set of rules that everyone has to meet in order to access the US market, it will actually create a race to the top, not a race to the bottom.&#8221;<\/em><\/p>\n<p data-start=\"2020\" data-end=\"2238\"><strong data-start=\"2020\" data-end=\"2029\">Emmer<\/strong>, a <strong data-start=\"2033\" data-end=\"2046\">Minnesota<\/strong> Republican, also criticized <strong data-start=\"2075\" data-end=\"2084\">CBDCs<\/strong> for their inherent privacy risks, stating that <strong data-start=\"2132\" data-end=\"2147\">stablecoins<\/strong> could bring <strong data-start=\"2160\" data-end=\"2192\">traditional finance on-chain<\/strong> at a global scale while preserving privacy:<\/p>\n<p data-start=\"2020\" data-end=\"2238\"><em>&#8220;This underscores why we must prioritize pro-stablecoin legislation alongside anti-CBDC legislation.&#8221;<\/em><\/p>\n<h2 data-start=\"2351\" data-end=\"2404\"><span class=\"ez-toc-section\" id=\"Crypto_Companies_Political_Influence_Grows\"><\/span>Crypto Companies&#8217; Political Influence Grows<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"2406\" data-end=\"2654\">Amid rapid <strong data-start=\"2417\" data-end=\"2431\">pro-crypto<\/strong> developments, a report by the <strong data-start=\"2462\" data-end=\"2507\">Center for Political Accountability (CPA)<\/strong> raised concerns about the increasing political influence of <strong data-start=\"2568\" data-end=\"2578\">crypto<\/strong> companies in <strong data-start=\"2592\" data-end=\"2603\">America<\/strong> and potential risks to <strong data-start=\"2627\" data-end=\"2651\">regulatory stability<\/strong>.<\/p>\n<p data-start=\"2656\" data-end=\"2883\">According to the <strong data-start=\"2673\" data-end=\"2684\">March 7<\/strong> report, <strong data-start=\"2693\" data-end=\"2711\">cryptocurrency<\/strong> firms spent a cumulative <strong data-start=\"2737\" data-end=\"2753\">$134 million<\/strong> on the <strong data-start=\"2761\" data-end=\"2782\">2024 US elections<\/strong> in <strong data-start=\"2786\" data-end=\"2821\">&#8220;unchecked political spending,&#8221;<\/strong> raising concerns about transparency and regulatory capture.<\/p>\n<hr \/>\n<p data-start=\"2656\" data-end=\"2883\"><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>US Representative Tom Emmer argued for prioritizing pro-stablecoin legislation in a March 11 House Financial Services Committee hearing while calling central bank digital currencies (CBDCs) a threat to American values. CBDC Anti-Surveillance Law Reintroduced On March 6, Emmer reintroduced the CBDC Anti-Surveillance State Act in the House of Representatives. At the March 11 hearing, Emmer<\/p>\n","protected":false},"author":28,"featured_media":31857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[12753,61,192,1800,11981,393,12756,4672,12754,105,12755,487,488,3310,7941,12752],"class_list":["post-38271","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-america","tag-bitcoin","tag-blockchain","tag-cbdc","tag-congress","tag-crypto","tag-crypto-lobbying","tag-crypto-regulations","tag-digital-dollar","tag-ethereum","tag-financial-surveillance","tag-paxos","tag-stablecoin","tag-trump","tag-us-elections","tag-us-rep-emmer"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tom Emmer: &quot;US Should Support Pro-Stablecoin Legislation!&quot; - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/tom-emmer-us-should-support-pro-stablecoin-legislation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tom Emmer: &quot;US Should Support Pro-Stablecoin Legislation!&quot; - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"US Representative Tom Emmer argued for prioritizing pro-stablecoin legislation in a March 11 House Financial Services Committee hearing while calling central bank digital currencies (CBDCs) a threat to American values. 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