Beyond Party Lines: Securing America’s Crypto Innovation Edge
The United States has long been a global leader in innovation, and now, a new bipartisan effort in Congress aims to ensure that leadership extends to the rapidly evolving world of cryptocurrency. House Majority Whip Tom Emmer and Representative Ritchie Torres, are spearheading the Congressional Crypto Caucus, a nonpartisan group designed to promote responsible policy and secure America’s edge in the digital asset space.
Emmer and Torres emphasize that America’s historical advantage stems not from dictating values, but from providing a fertile ground for entrepreneurs to flourish. They see cryptocurrency as a prime example of this, empowering individuals and offering economic freedom to all Americans, regardless of background. They believe that crypto has the potential to shift financial control away from centralized institutions and back into the hands of the people.
The formation of the Crypto Caucus is a direct response to this potential. Its goal is to unite members of Congress from across the political spectrum, creating a strong voting bloc dedicated to advancing key policy proposals and building coalitions within the cryptocurrency community. The caucus intends to deliver tangible results, focusing on a principled policy agenda that understands the decentralized nature of digital assets.
Their mission involves fostering an economic environment that welcomes open, permissionless, and private innovation while curbing attempts at centralized control. They aim to promote policies that allow all Americans to participate in the digital economy, while also striking a balance between consumer protection and innovation. This includes advocating for transparent and sensible regulations that safeguard consumers, enhance financial literacy, and facilitate access to new financial tools.
Emmer and Torres also recognize the challenges innovators have faced navigating the existing regulatory landscape. The Crypto Caucus will champion a balanced framework that offers legal clarity while nurturing American ingenuity, not deregulation, but smart regulation. This approach, they argue, will protect consumers without driving entrepreneurs overseas.
As other nations embrace cryptocurrency, the United States must not fall behind. The caucus is committed to a whole-of-government approach to digital asset policymaking, striving to ensure the United States remains the premier location globally for building, investing, and innovating in the digital asset space. They invite their congressional colleagues to join them in seizing this opportunity, working together to define the future of finance.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
Tom Emmer
Congressman Tom Emmer (MN-06) is House Majority Whip. He sits on the House Financial Services Committee and is a member of the House Republican Steering Committee. He is chair of the new Congressional Crypto Caucus.
Ritchie Torres
A member of the Democratic Party, Ritchie Torres is the U.S. representative for New York’s 15th congressional district. He is co-chairman of the new bipartisan Congressional Crypto Caucus.
