Congressman Tom Emmer recently outlined the approach of the Congressional Blockchain Caucus in an interview. It is essentially a group of Republicans and Democrats that aim to formulate policies around crypto, NFTs, DeFi, and gaming by understanding the implications of blockchain technology.
Last month, SEC chair Gensler had stated that the regulator needs more power to regulate the crypto market, something that Emmer expresses his disapproval on.
This time around, the SEC chair stated that a crypto ban is “up to Congress.” In response to the same, Emmer argued that Gensler “believes that almost all tokens are security,” adding that he “adamantly disagrees” to the same. He said,
“I think the community would disagree. Most of us would say, the vast majority of tokens out there are either a currency or a commodity.”