Congressman Tom Emmer calls for prioritizing stablecoin legislation and opposing CBDC

US Congressman Tom Emmer stated during a hearing of the House Financial Services Committee that legislation supporting stablecoins should be prioritized, while criticizing central bank digital currencies (CBDCs) for threatening US values. He reiterated his support for the Anti Surveillance National CBDC Act, which aims to prevent future executive branches from launching CBDCs without congressional approval. Emmer warns that allowing unelected officials to issue CBDCs could overturn the American way of life. In addition, Charles Cascarilla, CEO of Paxos, urged lawmakers at the hearing to develop unified stablecoin regulatory rules to avoid regulatory arbitrage. He suggested that the United States coordinate with global regulatory agencies to ensure the global uniformity of stablecoin issuance rules, thereby promoting healthy competition in the industry.