Tom Emmer, the Majority Whip of the U.S. House of Representatives, has introduced an amendment that has drawn attention to the Securities Exchange Commission’s (SEC) actions in the cryptocurrency industry. In his statement, Emmer criticizes Gary Gensler, alleging that the SEC chair has overstepped his authority and is negatively affecting the American people. He urges Congress to use their available methods and procedures to prevent misuse of taxpayer funds by Gensler and the SEC.In the past, Rep. Emmer has sponsored several bills to increase regulatory transparency in the United States. He recently used Twitter to announce his latest endeavor to limit the SEC’s financial resources. He intends to introduce an appropriations amendment that will limit the SEC’s utilization of funds for digital asset enforcement until comprehensive rules and regulations are put in place.In March 2023, Majority Whip Emmer introduced the Blockchain Regulatory Certainty Act, a bill that clarifies that blockchain developers and service providers are not considered money transmitters, as they do not hold consumer funds in custody. This bill distinguishes between custody providers and non-custody providers, relieving the latter from unnecessary compliance burdens that might hinder innovation in the United States.Key figures in the blockchain sector, including Blockchain Association CEO Kristin Smith and Crypto Council CEO Sheila Warren, have expressed their support for the proposed legislation. Tom Emmer has also thrown his support behind Rep. Warren Davidson’s SEC Stabilization Act, which seeks to remove Gary Gensler from his position as SEC Chair. Tom Emmer, the Majority Whip of the U.S. House of Representatives, has introduced an amendment that has drawn attention to the Securities Exchange Commission’s (SEC) actions in the cryptocurrency industry. In his statement, Emmer criticizes Gary Gensler, alleging that the SEC chair has overstepped his authority and is negatively affecting the American people. He urges Congress to use their available methods and procedures to prevent misuse of taxpayer funds by Gensler and the SEC.In the past, Rep. Emmer has sponsored several bills to increase regulatory transparency in the United States. He recently used Twitter to announce his latest endeavor to limit the SEC’s financial resources. He intends to introduce an appropriations amendment that will limit the SEC’s utilization of funds for digital asset enforcement until comprehensive rules and regulations are put in place.In March 2023, Majority Whip Emmer introduced the Blockchain Regulatory Certainty Act, a bill that clarifies that blockchain developers and service providers are not considered money transmitters, as they do not hold consumer funds in custody. This bill distinguishes between custody providers and non-custody providers, relieving the latter from unnecessary compliance burdens that might hinder innovation in the United States. Key figures in the blockchain sector, including Blockchain Association CEO Kristin Smith and Crypto Council CEO Sheila Warren, have expressed their support for the proposed legislation. Tom Emmer has also thrown his support behind Rep. Warren Davidson’s SEC Stabilization Act, which seeks to remove Gary Gensler from his position as SEC Chair. Tom Emmer, the Majority Whip of the U.S. House of Representatives, has introduced an amendment that has drawn attention to the Securities Exchange Commission’s (SEC) actions in the cryptocurrency industry. In his statement, Emmer criticizes Gary Gensler, alleging that the SEC chair has overstepped his authority and is negatively affecting the American people. He urges Congress to use their available methods and procedures to prevent misuse of taxpayer funds by Gensler and the SEC. Emmer has sponsored several bills to increase regulatory transparency in the United States and intends to introduce an appropriations amendment that will limit the SEC’s utilization of funds for digital asset enforcement until comprehensive rules and regulations are put in place.In March 2023, Majority Whip Emmer introduced the Blockchain Regulatory Certainty Act, a bill that clarifies that blockchain developers and service providers are not considered money transmitters, as they do not hold consumer funds in custody. This bill distinguishes between custody providers and non-custody providers, relieving the latter from unnecessary compliance burdens that might hinder innovation in the United States. Key figures in the blockchain sector have expressed their support for the proposed legislation, as well as for Rep. Warren Davidson’s SEC Stabilization Act, which seeks to remove Gary Gensler from his position as SEC Chair.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	9
People	Sheila Warren, Warren Davidson, Gary Gensler, Kristin Smith, Tom Emmer
Companies	SEC, U.S. House of Representatives, Blockchain Regulatory Certainty Act, SEC Stabilization Act, Securities Exchange Commission
Currencies	None
Securities	None