Emmer intends to introduce an amendment to the appropriations bill that will restrict the SEC's use of funds for digital asset enforcement until complete regulations are in place. The Majority Whip of the United States House of Representatives, United States Representative Tom Emmer, who had previously voiced concerns regarding the Securities Exchange Commission's (SEC) actions in the cryptocurrency industry, sponsored an appropriations amendment that restricted the SEC's use of funds for digital asset enforcement.

[embed]https://twitter.com/GOPMajorityWhip/status/1700191143835705542[/embed]

Emmer slams SEC Chair Gary Gensler in his statement, claiming that he has overstepped his authority, harming the American people. Emmer encouraged Congress to use its accessible techniques and legitimate systems to frustrate any expected abuse of citizen assets by Gensler and the SEC. Emmer has co-sponsored a number of bills aimed at increasing regulatory transparency in the United States.
<h2>House to limit SEC's use of funds for cryptocurrency enforcement until comprehensive regulations are established</h2>
Emmer intends to <a href="https://emmer.house.gov/2023/3/emmer-introduces-bill-to-provide-regulatory-clarity-for-the-blockchain-ecosystem" target="_blank" rel="nofollow noopener">introduce</a> an amendment to the appropriations bill that will restrict the SEC's use of funds for digital asset enforcement until comprehensive regulations are established. Concerns have been raised regarding the <a href="https://www.cryptoknowmics.com/news/sec-urges-ripple-labs-appeal/" target="_blank" rel="noopener">SEC</a>'s significant expenditures in legal disputes with numerous crypto entities due to the absence of cryptocurrency regulations, which could potentially waste taxpayer funds. The bill distinguishes between custody providers and non-custody providers, freeing non-custody providers from burdensome compliance requirements that could impede American innovation. This explanation guarantees that validators, diggers, and other non-custodial specialist co-ops are not ordered similarly as guardianship suppliers.

Key figures in the blockchain area, including Blockchain Affiliation Chief Kristin Smith and Crypto Gathering President Sheila Warren, communicated their support for the proposed regulation. Tom Emmer has additionally advocated Rep. Warren Davidson's SEC Adjustment Act, which looks to eliminate Gary Gensler from position as SEC Seat.

Rep. Emmer Backs Amendment to Restrict SEC's Crypto Oversight

Rep. Tom Emmer supports an amendment aimed at curbing the SEC's authority in crypto regulation, proposing a shift in regulatory dynamics. Stay informed!

Sonakshi is into the crypto world ever since she heard about it and is pursuing her interest through Cryptoknowmics. She is a sensational poet, technical writer and content strategist.

Rep. Emmer Backs Amendment to Restrict SEC's Crypto Oversight

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