Rep. Tom Emmer on Crypto Regulation, CBDCs, Infrastructure Bill

During Thursday's House Financial Services Committee meeting, U.S. Federal Reserve Chairman Jerome Powell said he does not intend to ban cryptocurrencies but signaled stablecoins need greater regulatory oversight. Committee member Rep. Tom Emmer (D-Minn.) reacts. "People in the federal government, specifically the executive branch ... are trying to gain control over the cryptocurrency industry and direct it," Emmer said. Plus, his take on the "misguided" rush to develop a U.S. CBDC and crypto coming into focus in Washington.

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