Representative Tom Emmer has once again pressed hard for more regulation on stable coins. At a Financial Services Committee hearing on Monday 10, 2025, he articulates that he sees central bank digital currencies like a direct threat to values for Americans.
Emmer stresses how crucial it is providing strong regulation for stable coins but he opposes outright issuing a US digital currency without congressional permission.
According to him:
“CBDC technology is inherently un-American,” Emmer stated during the hearing. He warned that allowing unelected officials to control a CBDC “could upend the American way of life.”
His remarks came only a few days after he reintroduced the CBDC Anti-Surveillance State Act on March 6. The new proposal would block future administrations from launching US CBDCs without express approval from Congress.
Emmer’s stance aligns with that of Donald Trump’s Executive Order on January 23 prohibiting the establishment, issuance, circulation, and use of a CBDC in the United States. Emmer argued that his bill would ensure a future administration cannot use CBDCs as an obvious tool for financial surveillance against its own citizens.
Cryptocurrency firms in U.S. politics has come under scrutiny
Similarly, the monitor’s focus shifted to the involvement of cryptocurrency firms in politics. A report by Center for Political Accountability from March 7 raised attention to the spending habits of crypto businesses, claiming that they spent an estimated $134 million advertising for the 2024 election.
The report warned politicians that such free political expenditures may jeopardize the stability of regulations which are put in place in America.
At the same hearing, lawmaker’s stable coin regulations were brought up by Paxos head Charles Cascarilla. He expressed his true hope that various jurisdictions will find a way to make regulations more uniform. Instead, he believed that regulatory arbitrage would hurt the United States.
“We want to make sure we have the same set of rules in the U.S. as we have around the world so that there isn’t some arbitrage that is possible to issue from another jurisdiction,” he said. “By having that same set of rules that everyone has to meet in order to access the U.S. market, it will actually create a race to the top, not a race to the bottom.”
Emmer also remarked how voicing concerns about CBDCs often leaves out the opportunity stablecoins provide in merging modern finance while still ensuring anonymity.
“This just goes to show why we need to get pro-stablecoin and anti-CBDC legislation forward,” he remarked.
In the next months, there will be more of a challenge while both sides of Congress remain divided about the regulations over digital assets. It is expected those tensions surrounding CBDCs and stablecoins will escalate
