In a most curious turn of events, a certain Democratic representative from the esteemed halls of the US Congress has chosen to lend his support to a blockchain bill, all whilst many of his left-leaning compatriots are resolutely blocking any crypto-related legislation. This, of course, is due to their rather fervent concerns regarding President Donald Trump’s potential conflicts of interest. Oh, the drama! 🎭
On this fine day, the 21st of May, in the year of our Lord 2025, the honorable Minnesota Representative Tom Emmer has reintroduced the Blockchain Regulatory Certainty Act. This bill, as he so eloquently states, “solidifies that digital asset developers and service providers that do not custody consumer funds are not money transmitters.” How very reassuring! Emmer, being a Republican, has found a most unlikely ally in Democratic Representative Ritchie Torres, who shall co-lead this endeavor, thus rendering it a bipartisan affair. How quaint! 🤝
“The Blockchain Regulatory Certainty Act reflects a thoughtful, bipartisan effort to get digital asset policy right,” declared the ever-optimistic Torres. “While similar language was voted down in markup last Congress, we took that feedback seriously and returned with a smarter, sharper framework that protects innovation without compromising oversight.” One can only hope that this “smarter, sharper framework” does not involve any sharp objects! 🗡️
Representatives from various advocacy organizations, including the Crypto Council for Innovation, Solana Policy Institute, Digital Chamber, Coin Center, DeFi Education Fund, and Blockchain Association, have expressed their support for this proposed regulatory bill. However, it remains a mystery whether Emmer and Torres possess the requisite majority of votes in the House of Representatives for this legislation to pass. A nail-biting cliffhanger, indeed! 😱
Since his arrival in office in 2021, Torres has championed numerous bills and policies that are decidedly favorable to the crypto industry. Together with Emmer, he has led the Congressional Crypto Caucus, tirelessly advancing crypto-friendly policies in the House since March. Such dedication deserves a round of applause! 👏
A bipartisan blockchain bill amid memecoin concerns?
Alas, not all is well in the realm of politics! Other Democratic House members, including the formidable Representative Maxine Waters, have suggested their intention to block any legislation related to crypto and blockchain until the Republicans address Trump’s connections to the industry. This includes his family’s stake in World Liberty Financial and, of course, his infamous TRUMP memecoin. The president is even planning to host a dinner with up to 220 individuals who hold the most significant amounts of his memecoin on the morrow of May 22. How delightful! 🍽️
CryptoMoon, in its quest for knowledge, reached out to Torres’ office for a comment but, alas, had not received a response at the time of this publication. Such is the nature of political correspondence! 📜
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2025-05-22 01:20