The US Congressman Tom Emmer, during the first hosted “Cryptocurrency Town Hall,” mentioned that he would accept cryptocurrency donations for his next election campaign through BitPay. Tom Emmer said that he does not see Ripple’s XRP as security and praised the blockchain company as it abolishes intermediary. However, the network is being affected by the lack of regulatory clarity, he added. “My position is very clear, XRP is not a security,” Tom Emmer said.
Tom Emmer urged the US to lead in the blockchain industry.
The Cryptocurrency Town Hall event was made possible through the help of the PAC (political action committee) of the Chamber of Digital Commerce. The event featured Ripple CEO Brad Garlinghouse, BitPay CEO Stephan Pair, eToro CEO Guy Hirsch, and other big names from the crypto industry. The Congressman suggested that the country lead in innovating different ideas in the blockchain industry, mentioning that lots of ideas happened in the cryptocurrency industry recently. He advised industry experts not to leave Washington politicians to act anyhow but to advise them on the adoption of blockchain technology.
Congressman Tom Emmer to accept crypto donations.
The delegate from Minnesota has decided to accept cryptocurrency to fund his re-election campaign. As co-chair of the Congressional Blockchain Caucus, he has been a friend to the blockchain world. The Congressman expressed worry over the Fed’s unchecked currency printing. He also fears other short-term solutions to bigger economic problems, which Emmer feels could come from cryptocurrencies like Bitcoin. Tom Emmer, who recently wrote a letter to the IRS regarding the classification of proof of stake assets, will now accept crypto donations with BitPay.
During the cryptocurrency Town Hall, Tom Emmer also spoke lengthily about DeFi. He mentioned the surprise of creating traditional financial instruments that are not being overseen by either governments or companies.