Congressman Tom Emmer, a supporter of blockchain technology and crypto in general, has tweeted out his thoughts on the Executive Order on Digital Assets.
Published yesterday by the Biden White House, the Executive Order has been widely embraced by the crypto community as doing no harm while acknowledging the benefits of blockchain technology and digital assets in general. While many details are missing, the industry greeted the EO with a collective sigh of relief.
Congressman Emmer noted that the Executive Order directs different federal agencies to study digital assets and provide legislative recommendations.
“Crypto, tokenization, blockchain, NFTs, smart contracts, & stablecoins are powering a more viable economic structure with individual autonomy. As a country, it’s imperative that we develop a strategy to foster this innovation.”
“We have a national interest in fostering digital asset innovation. The rest of the EO focuses on consumer protection, systemic risks, global competitiveness, international standards, and placing guardrails on code to make sure its resilient.”
Emmer then “reads between the lines” pointing out the Executive Order does not mention decentralization anywhere. Additionally, he states that SEC Chairman Gary Gensler has “spent the past year intimidating crypto innovators and entrepreneurs with his unproductive regulation by public statement and enforcement action. His input is not critical.”
It is interesting to note that following the release of the Digital Asset Executive Order, Chair Gensler quickly tweeted a comment on the announcement indicating his goal of focusing on “protecting investors & consumers, guarding against illicit activity, & helping ensure financial stability.”
Emmer closed by stating that “it’s critical that we maintain tech and economic leadership on the global stage.”
Just finished reviewing Biden’s Executive Order on Digital Assets… Here are a few thoughts:
— Tom Emmer (@GOPMajorityWhip) March 10, 2022