Tom Emmer Dismisses Law Enforcement Concerns Over Clarity Act

House Majority Whip Tom Emmer has dismissed concerns from law enforcement groups regarding the Clarity Act, stating that fears about crypto developer protections are overstated. According to CoinDesk, Emmer emphasized the bipartisan momentum of the Clarity Act in the Senate, highlighting the Senate Banking Committee's 15-9 vote to advance the bill. He argued that the legislation aims to clarify distinctions between digital assets regulated as securities, commodities, or cash equivalents. Emmer also defended the Blockchain Regulatory Certainty Act, which seeks to exempt noncustodial software developers from money transmitter rules, calling law enforcement objections a 'red herring.' He stressed the need for clear crypto regulations to maintain U.S. competitiveness and criticized former SEC Chair Gary Gensler's enforcement approach. Emmer advocates for 'light touch regulation' and believes the Clarity Act will encourage more companies to operate within the U.S. regulatory framework.