US Representative Tom Emmer has been appointed vice chairman of the House Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence (AI).
The Minnesota Republican announced the news on 15 January 2025. He outlined his plans to align the future of digital assets with American values under President Donald Trump’s administration.
The House Financial Services Committee’s Subcommittee vice chairs and subcommittee assignments for the 119th Congress were announced by Committee Chairman French Hill on 14 January.
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Subcommittee To Oversee Crypto, Fintech, AI In Financial Service
The subcommittee, established in 2023, is tasked with overseeing the development of cryptocurrency, financial technologies, and AI within financial services.
The subcommittee is expected to play a pivotal role in creating a clear regulatory environment for cryptocurrencies and emerging technologies.
Congressman Bryan Steil is another key figure in the Financial Services Subcommittee. Steil has previously mentioned the urgency of establishing crypto regulations.
French Hill has outlined the committee’s priorities for 2025. This includes advancing crypto regulatory frameworks and ensuring financial agencies remain accountable. Hill expressed confidence in the leadership of Emmer and other experienced lawmakers to address critical challenges in these sectors.
I am honored to have been selected as Vice Chairman of the Subcommittee on Digital Assets, Financial Technology and Artificial Intelligence.
With President Trump in the White House, and Gary Gensler confined to the waste bin of Washington, we have an excellent opportunity to…
— Tom Emmer (@GOPMajorityWhip) January 15, 2025
The announcement comes ahead of President-elect Trump’s inauguration on January 20, with speculation mounting about potential executive orders targeting digital assets. Some crypto industry leaders anticipate swift action from the administration.
In a recent ABC News interview, House Majority Whip Emmer reiterated his commitment to supporting Trump’s agenda. He highlighted the importance of tackling inflation, debt, and global stability, which he attributed to excessive spending during the Biden administration.
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Trump Appoints Crypto-Friendly Individuals To Key Positions
Earlier this month, Trump nominated former Securities and Exchange Commission Commissioner Paul Atkins, a crypto advocate, to chair the agency. Industry leaders hope Atkins’ leadership will bring a more favorable regulatory environment for digital assets.
Under the Biden administration, outgoing SEC Chair Gary Gensler took a stringent approach to the crypto industry, initiating enforcement actions against several high-profile companies and projects.
Trump has been critical of Gensler’s policies, promising during his campaign to fire him “on day one.” However, Gensler pre-empted this move by announcing his resignation, effective January.
Furthermore, the President-elect has selected Paul Atkins, a crypto advocate and former SEC commissioner, as his choice to lead the SEC.
He has also appointed David Sachs, a podcaster, as the “Crypto Czar” in his cabinet. He also pledged to make America the “crypto capital of the world” through initiatives like World Liberty’s lending and borrowing platform.
More recently, Trump has also hinted at plans for a US Bitcoin strategic reserve akin to the nation’s strategic oil reserve.
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