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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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US Congressman Emmer calls for legislation to promote Stable Coin, oppose central bank Digital Money
According to the TechFlow news on March 12, as reported by Cointelegraph, U.S. Congressman Tom Emmer called for priority legislation to support stablecoins at the U.S. House Financial Services Committee hearing on March 11, while also stating that Central Bank Digital Money (CBDC) poses a threat to American values.
Emmer reintroduced the "CBDC Anti-Surveillance Act" in the House on March 6, aimed at preventing future governments from launching the US CBDC without explicit approval from Congress. He stated that "CBDC technology is fundamentally non-American" and warned that allowing non-elected bureaucrats to issue CBDCs "may disrupt the American way of life".
At the same hearing, Paxos CEO Charles Cascarilla urged lawmakers to establish consistent stablecoin regulation across jurisdictions to avoid regulatory arbitrage. Emmer emphasized that stablecoins can bring traditional finance onto the chain globally while protecting privacy.