Emmer dismisses law enforcement crypto concerns

House Majority Whip Tom Emmer stated that law enforcement's concerns regarding the Clarity Act's crypto developer protections are exaggerated. He highlighted the Senate Banking Committee's bipartisan progress on the bill, indicating continued momentum for crypto legislation despite Washington's uncertainty. Emmer emphasized the need for clear distinctions between digital assets classified as securities, commodities, or cash equivalents, predicting the legislation's eventual passage. He defended the Blockchain Regulatory Certainty Act, which shields non-custodial software developers from money transmitter rules, calling objections a 'red herring' that could impede innovation and create legal ambiguity for developers.