Latest news with #TomEmmer
Finextra
4 days ago
- Business
- Finextra
Arkansas Congressman French Hill reveals digital asset Clarity Act
House Committee on Financial Services Chairman French Hill (R-AR) today introduced the Digital Asset Market Clarity (CLARITY) Act, which would establish a regulatory framework for digital assets in the United States. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. House Committee on Agriculture Chairman G.T. Thompson (R-PA), House Majority Whip Tom Emmer (R-MN), House Committee on Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence Chairman Bryan Steil (R-WI), House Committee on Agriculture Subcommittee on Commodity Markets, Digital Assets, and Rural Development Chairman Dusty Johnson (R-SD), Rep. Warren Davidson (R-OH), House Agriculture Committee Ranking Member Angie Craig (D-MN), Rep. Ritchie Torres (D-NY), and Rep. Don Davis (D-NC) are all original co-sponsors. Chairman Hill said, 'I am proud to introduce the bipartisan CLARITY Act with my colleagues. Our bill brings long-overdue clarity to the digital asset ecosystem, prioritizes consumer protection and American innovation, and builds off our work in the 118th Congress. I look forward to delivering our bill to President Trump's desk and securing America's position as the global leader in digital assets.' Chairman Thompson added, "I'm proud to join Chairman Hill, and bipartisan leaders from both our committees in introducing Digital Asset Market Clarity (CLARITY) Act. Today's introduction of CLARITY is an exciting step towards delivering the certainty and clarity digital asset entrepreneurs and markets need. This landmark legislation will protect consumers, unleash entrepreneurship, and ensure the United States sets the global standard for the future of innovation." House Majority Whip Emmer stated, 'This is an important moment for the United States. This bill is a bold step to ensuring that the next iteration of the internet is developed by Americans and driven by our values. I am grateful to my colleagues for all of their work to craft this thoughtful, globally competitive framework, and look forward to working with them to ensure this commonsense legislation is signed into law.' Subcommittee Chairman Steil said, 'The golden age of digital assets is here. America won't just participate in the Web3 revolution; we will win it. The CLARITY Act ensures that financial innovation and development of digital assets occurs here in the United States. Our bill secures American dominance, democratizes digital assets, unleashes innovation, and protects consumers from fraud. Thank you, Chairman Hill and Chairman Thompson, for leading this effort.' Subcommittee Chairman Johnson added, 'America should be the global leader in the digital assets marketplace - but we can't do that without establishing a clear regulatory framework. This legislation gives our markets the clarity they need to thrive, protect consumers, and foster innovation. I'm grateful for the partnership of Chairmen Thompson, Hill, Steil, and Majority Whip Emmer thus far and I'm looking forward to working together to get this landmark legislation across the finish line.' Rep. Davidson said, 'The CLARITY Act creates a clear and effective regulatory framework for digital assets. It protects the right to self-custody and the freedom to transact. These principles are essential for innovation, economic growth, and individual liberty. Since 2018, I've worked to bring legal clarity to digital assets. The CLARITY Act delivers on that goal. I applaud Chairman Hill for his leadership in solidifying the United States' position as a global leader in digital assets." Ranking Member Craig said, 'Digital assets, including crypto currencies, are moving from a unique, novel financial product to becoming more and more integrated with our current financial architecture. I believe it is critical that Congress establish clear protections for consumers and retail investors as well as rules of the road for businesses dealing in digital assets. The bipartisan CLARITY Act will ensure oversight and regulation of digital assets in our financial system so that business owners, innovators and consumers can engage with in these markets knowing what is expected of them.' Rep. Torres said, 'For too long, regulatory uncertainty has held back the full potential of digital innovation in the United States. The CLARITY Act will deliver clear rules of the road that entrepreneurs, investors, and consumers deserve. By protecting consumers, promoting transparency, and closing regulatory gaps, this legislation will ensure that America remains the global leader in digital asset innovation.' Rep. Davis said, 'Families, entrepreneurs, and small businesses across our country, including rural areas in eastern North Carolina, seek ways to engage in the modern economy. Digital assets present a chance for a more inclusive financial future, but we need clear rules and fair oversight for innovation to thrive. Congress must ensure that America shapes digital finance, creates opportunities, protects consumers, and supports overlooked communities.' Further Background on the Committee's work on digital asset market structure legislation: On May 22, 2024, the Financial Innovation and Technology for the 21st Century (FIT21) Act passed the House of Representatives 279-136 with 71 Democrats supporting the bill in the 118th Congress. On April 4, 2025, Chairman Hill and Chairman Thompson published an op-ed in CoinDesk outlining their vision for digital asset market structure legislation for the 119th Congress. On April 9, 2025, the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence held its first digital asset market structure hearing of this Congress. On May 5, 2025, Chairman Hill, Chairman Thompson, Subcommittee Chairman Steil, and Subcommittee Chairman Johnson released a digital asset market structure discussion draft to establish a regulatory framework for digital assets in the United States. On May 6, 2025, the House Financial Services and Agriculture Committees held a public joint roundtable discussion on key concepts and principles for digital asset market structure legislation.
Axios
4 days ago
- Business
- Axios
House introduces new effort to regulate cryptocurrency
Key members of House leadership, as well as three Democrats, introduced new legislation Thursday to clarify the lanes of responsibility for regulatory oversight of digital assets. Why it matters: While the cryptocurrency business is often described as a Wild West, longtime practitioners argue that the only reason they haven't been following rules is because the U.S. hasn't written rules for them to follow. " This bill is a bold step to ensuring that the next iteration of the internet is developed by Americans and driven by our values," House Majority Whip Tom Emmer (R.-Minn.), one of the co-sponsors at introduction, said in a statement. The Digital Asset Market Clarity Act, a so-called market structure bill, provides for clear delineation of responsibility between the CFTC and the SEC, according to a one-pager from the bill's authors. Digital asset issuers can register to use tokens to raise money for new ventures under SEC supervision. Trading venues for most secondary sales of digital assets would be supervised by the CFTC. Overall, the bill provides an extension of the disclosure-based regime that has been used for other markets, but directs agencies to update it with regard to this new category of asset. Zoom in: The legislation specifically requires dealers and brokers to segregate customer funds from their own and disclose conflicts of interest. Issues such as those were at the heart of what unwound the bankrupt exchange FTX in 2022. Between the lines: Section 203 of the draft legislation effectively codifies the decision in the SEC vs. Ripple case, where the court ruled that transactions on a secondary market were not necessarily securities, even if the initial sale was. What they're saying: " These bipartisan co-sponsors have been some of the fiercest crypto leaders in Congress, and their bill takes an important step towards establishing a common-sense regulatory framework for digital assets in the U.S.," Meghan Pennington, a spokesperson for the industry group Stand with Crypto, said in a statement. "We urge congressional leaders to prioritize swift action on this legislation to solidify America's global leadership in the blockchain economy." Flashback: In the last Congress, the House sent a version of this legislation to the Senate, but the higher chamber never picked it up.
22-05-2025
- Politics
House Majority Whip calls Moody's downgrade of US debt 'somewhat political'
House Majority Whip Tom Emmer (R-MN) joined ABC News Live with a reaction to the House passing President Donald Trump's spending bill.
CBS News
19-05-2025
- Health
- CBS News
Minnesota leaders react to Biden's prostate cancer diagnosis
Former president Joe Biden and his family say they're reviewing treatment options after he was diagnosed with an aggressive form of prostate cancer that has spread to his bones. In a statement, the Biden family says the diagnosis came after doctors found a nodule on his prostate when he was seen for increased urinary symptoms. Biden's advanced age presents a challenge, but even so, cancer doctors say there are effective treatments available. In a statement, the Biden family says the cancer "appears to be hormone-sensitive which allows for effective management." Biden's announcement comes as a new book detailing concerns over his health towards the end of his time in office is set to be released on Tuesday. Walz, other Minnesota leaders react Leaders from all over the world, including right here in Minnesota, are sending well wishes to the former president after his announcement. Former Democratic vice presidential nominee and Minnesota Gov. Tim Walz said on X, "Gwen and I are praying for President Biden and his family. A truly decent man and a friend. We're wishing him all the best." On the other side of the aisle, House Majority Whip Tom Emmer, Minnesota's highest-ranking Republican, said, "Jacquie and I are praying for former President Joe Biden and his family during this difficult time, and we wish him a full and speedy recovery." Both of Minnesota's U.S. senators offered their support for Biden. "Praying for President Biden and his entire family." Sen. Amy Klobuchar said. "Joe is a fighter who has shown strength and grit throughout his life, and I know he'll bring that same spirit to this fight with cancer." "To our friend Joe Biden — Archie and I wish you the best as you take care of yourself," Sen. Tina Smith said. "Many families deal with cancer, and you have done so much to help them. Now we can support you and yours."
Yahoo
08-05-2025
- Politics
- Yahoo
Minneapolis attorney nominated to serve as U.S. Attorney for Minnesota
Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Yahoo is using AI to generate takeaways from this article. This means the info may not always match what's in the article. Reporting mistakes helps us improve the experience. Generate Key Takeaways The Brief President Trump has nominated Daniel Rosen to serve as U.S. Attorney for Minnesota. Minnesota GOP representatives are urging their colleagues in the Senate to confirm the nomination. Rosen has 30 years of experience in litigation in federal and state courts and graduated Cum Laude from the University of Minnesota. MINNEAPOLIS (FOX 9) - President Trump has nominated an attorney who runs a law firm in Minneapolis to serve as U.S. Attorney for Minnesota. Daniel Rosen nominated What we know President Trump sent his nomination for Daniel Rosen to serve as U.S. Attorney for Minnesota to Congress on Tuesday. Representatives Tom Emmer, Michelle Fischbach, Pete Stauber, and Brad Finstad announced on Wednesday that they had previously sent a letter to the president, recommending three candidates: Rosen, former U.S. Attorney Erica MacDonald, and attorney Ronald Schutz. Dig deeper Rosen is the principal at Rosen LLC. According to the letter from the lawmakers, Rosen has 30 years of experience in litigation in federal and state courts. "He has used his expertise to advocate for community and charitable issues, especially matters of particular interest to the American Jewish community," Rosen states. "He also served in the United States Navy as a surface warfare officer at sea." The letter also notes Rosen graduated Cum Laude from the University of Minnesota. What they're saying In a joint statement, Reps. Emmer, Stauber, Fischbach, and Finstad wrote: "Dan Rosen is one of the sharpest legal minds in the entire country, and we are thrilled that President Trump has nominated him to serve as the United States Attorney for the District of Minnesota. With over three decades of experience as an attorney and a proven commitment to public safety, Dan will uphold the rule of law and keep criminals off our streets. As fraud and crime run rampant under Governor Walz's watch, we urge our colleagues in the Senate to act quickly to confirm Dan's nomination." The backstory Former U.S. Attorney Andrew Luger resigned from office just days before the Trump presidency. Luger had served under President Obama before stepping down at the request of President Trump during his first term. Luger was then later reappointed under President Biden. The Source This story uses information from GOP news releases and statements from lawmakers.
