A new crypto voting bloc was formed in Congress on Monday. Tom Emmer, the House Republican Majority Whip, and Ritchie Torres, a Democrat, have teamed up to launch the Congressional Crypto Caucus, a bipartisan group focused on pushing crypto legislation through the House.
The caucus is separate from the Congressional Blockchain Caucus, which started in 2017, and instead functions as a coordinated voting force to pass bills related to crypto regulations, stablecoins, and market structures.
In a statement to Fox Business correspondent Eleanor Terrett, Emmer report said the caucus was created because millions of voters made it clear in November that they want leaders who support blockchain and crypto development in the U.S. “This Caucus serves as an ideologically unified, nonpartisan group of members that can quickly mobilize to support key digital asset initiatives in Congress,” Emmer told Eleanor.
Congress moves on crypto bills as Trump pushes for regulations
All around, Congress is actually moving fast on crypto regulations, with lawmakers under pressure to pass a clear regulatory framework for the $3 trillion industry. President Donald Trump, who returned to the White House in January, has said over and over that he wants America to become the ‘crypto capital of the planet’.
Two separate stablecoin bills have already been introduced in the House, and industry leaders (like Brian Armstrong and Paolo Ardoino) are actively working with lawmakers to fine-tune the details, according to Eleanor.
Over in the Senate, the Banking GOP is preparing to move on the GENIUS Act, a stablecoin bill introduced by Tennessee Senator Bill Hagerty, and Eleanor says the bill could see a markup as soon as next week.
Senate Banking Committee Chairman Tim Scott has set an April deadline for both stablecoin and market structure bills to make it through the Senate and land on Trump’s desk for a signature. Whether these bills will get the bipartisan backing they need remains uncertain, but Emmer and Torres say that’s exactly why the Congressional Crypto Caucus was created—to rally support and get legislation passed.
In a post on X, Emmer said, “Millions of American voters made their voices heard at the ballot box in November. You elected the most pro-crypto Congress and Presidential Administration in history.”
Emmer takes leadership role in crypto regulations
Emmer’s influence in crypto policy is growing beyond the Congressional Crypto Caucus. On January 15, even before Trump got inaugurated, French Hill, Chairman of the House Financial Services Committee, announced that Emmer will serve as Vice Chairman of the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence.
The subcommittee will be led by Bryan Steil, who was named Chairman. “With President Trump in the White House, and Gary Gensler confined to the waste bin of Washington, we have an excellent opportunity to ensure that the future of digital assets is guided by Americans, with American values,” Emmer said at the time.
Hill praised Emmer’s leadership in crypto policy, calling him “one of the leading voices in Congress on digital assets.” Hill also pointed out that Emmer played a key role in the Anti-CBDC Surveillance Act during the 118th Congress and has been actively involved in shaping crypto-related policies.
“Whip Emmer will be a strong addition to the leadership of the Digital Asset Subcommittee, and I look forward to watching Chairman Steil and the Whip continuing our important work in the digital asset and financial technology space for the 119th Congress,” Hill said.
Emmer’s track record in crypto legislation goes back years. The 119th Congress marks his sixth term on the House Financial Services Committee. Since 2018, he has co-chaired the Congressional Blockchain Caucus. Before the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence was created, he was also the Republican leader of the Fintech Task Force in the 116th Congress.
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