Unchained

Rep. Emmer on Why He Believes Gary Gensler Is a ‘Bad-Faith Regulator’ - Ep. 478

Apr 7, 2023

Congressman Tom Emmer, House Majority Whip and a vocal advocate for crypto, dives into the complexities of U.S. cryptocurrency regulation. He argues that the recent clampdown on crypto aims to disconnect it from the banking system. Emmer criticizes SEC Chair Gary Gensler, labeling him a 'bad-faith regulator.' He discusses the shifting views in Congress, the polarized approach to blockchain, and the ramifications of the FedNow system. Emmer warns that current U.S. attitudes could undermine the nation's economic power in the global crypto arena.

40:15

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Episode guests

Rep. Tom Emmer

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Episode notes

Intro

6min

Evolving Crypto Perspectives in Congress

7min

Regulatory Challenges in Cryptocurrency and the Need for Clarity

4min

Cryptocurrency: U.S. vs Global Perspectives

8min

Crypto Controversies: Governance Proposals and Market Reactions

4min

Cryptocurrency Market Developments

10min

Amidst a wide-ranging crackdown on all kinds of crypto players, Representative Tom Emmer talks about recent enforcement actions, the classification of cryptocurrencies as securities or commodities, the potential impact of US regulatory actions on the country’s global economic power, and the Federal Reserve's upcoming payment system. He touches on the importance of innovation and entrepreneurship in the crypto industry and the role of government in fostering these developments.

Show highlights:

why Rep. Emmer thinks there's an operation to cut crypto off from the banking system
how, as he puts it, Sen. Elizabeth Warren has been 'dancing on the grave' of the recent banking failures
how the interest in crypto in Congress has changed over time, especially after the Infrastructure bill in 2021
whether the CFTC lawsuit against Binance represents an "appropriate" use of enforcement actions
why Rep. Emmer says that bureaucrats are trying to polarize blockchain technology
how the US’s attitudes toward crypto could affect the country’s global power
why he is against FedNow, the new Federal Reserve's payment system

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Guest

Congressman and House Majority Whip Tom Emmer

Previous appearances on Unchained: Rep. Tom Emmer, One of the Most Active Crypto Congress Members, on Taxes and DeFi

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