Republican Congressman Tom Emmer and Democratic Congressman Ritchie Torres have joined forces to create the Congressional Crypto Caucus, a bipartisan group aimed at advancing digital asset policies within the House of Representatives.
Unlike the Congressional Blockchain Caucus, which was established in 2017, the new caucus seeks to function as a voting bloc to advocate for legislation that supports cryptocurrency. Emmer emphasized that the initiative is a direct response to the millions of voters in the 2024 elections who backed candidates with a pro-crypto agenda.
“This Caucus serves as an ideologically unified, nonpartisan group that can swiftly mobilize in support of key digital asset initiatives in Congress,” Emmer said during an interview with Fox Business. “Our aim is to ensure the United States remains the best place in the world to build and innovate in the next iteration of the internet.”
Torres echoed Emmer’s sentiment, noting that the caucus’s primary goal is to maintain the U.S.’s leadership in blockchain technology and foster innovation.
As lawmakers rush to establish clear rules for the growing cryptocurrency industry, former President Donald Trump has voiced his ambition for the U.S. to become the “crypto capital of the planet,” increasing the pressure on Congress to act.
Currently, two stablecoin bills are under review in the House of Representatives, with input from key figures in the crypto sector. In the Senate, Tennessee Senator Bill Hagerty’s GENIUS Act, which addresses stablecoins, is set to be discussed next week by the Banking Committee.
Senator Tim Scott, Chairman of the Senate Banking Committee, has set a target to pass stablecoin and market structure bills by April 2025, although it remains uncertain whether enough bipartisan support will be garnered to achieve this deadline.
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