Republican House Majority Whip Tom Emmer and Democrat Ritchie Torres are pairing up to create a "Congressional Crypto Caucus" as lawmakers look to advance crypto bills in Washington.
The caucus will look to bolster the U.S.'s leadership in digital assets, Torres said in a post on X on Monday.
"We hope to build a unified, bipartisan coalition to cement America’s leadership in the future of digital assets and blockchain innovation," Torres said. Both Torres and Emmer will serve as co-chairmen of the caucus, a spokesperson in Emmer's office told The Block.
Members of the caucus will work on legislation but will also be a group that is "ideologically unified and can mobilize to support or prevent critical digital asset legislative proposals," the spokesperson added.
In the new Congress that started earlier this year, lawmakers have focused on drafting bills to regulate stablecoins, with both Republicans and Democrats coming out with draft legislation over the past several weeks. Lawmakers are also working to create a regulatory framework for market structure with hopes of getting bills to President Donald Trump for his signature this year, Sen. Cynthia Lummis, R-Wyo., said last week during a Congressional hearing.
Emmer said the group would not be partisan in a post on X.
"The Crypto Caucus will serve as a unified voting bloc in Congress - a nonpartisan group of members ready to mobilize to support and defend open, permissionless, and private innovation in the United States," Emmer said.
Torres' office did not respond to a request for comment from The Block.
Other caucuses focused on crypto have been created over the past few years. The Congressional Blockchain Caucus was formed in the 114th Congress, a few years ago, to hone in on a "light touch regulatory approach."
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