Rep. Tom Emmer, the newly elected GOP whip, cautioned against 'a huge wet blanket of regulation' in the wake of FTX's collapse during a Blockchain Association event Wednesday. jesseahamilton reports
Rep. Tom Emmer , who Republicans have picked for a key leadership role in the next Congress, dismissed policymakers’ crypto anxiety after the dramatic collapse of global crypto pillar FTX and said coming up with digital assets legislation next year “could be a lot of fun.”
Emmer, elected as the incoming whip who will organize Republican members of the House for legislative votes, cautioned against making too much of the situation with FTX, whose contagion has been knocking down dominoes of other significant crypto firms since the news of its failure last week. "You are here to stay,” he said, addressing the crypto policy crowd. “You are going to continue to grow. This incident might have put everybody back a certain amount. We'll see."He said do-gooders shouldn’t be allowed to “rush in and put a huge wet blanket of regulation atop this industry just because something didn't go right.”
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