Tom Emmer, U.S. Representative from Minnesota, argued at a March 11 hearing that central bank digital currencies (CBDCs) could undermine American values by enabling unnecessary financial surveillance.
He reintroduced the CBDC Anti-Surveillance State Act on March 6, aiming to prevent future U.S. administrations from launching a CBDC without Congressional approval. Emmer emphasized that CBDCs could lead to government overreach, threatening citizens’ privacy.
During the same hearing, Paxos CEO Charles Cascarilla called for consistent global stablecoin regulations to avoid regulatory arbitrage and ensure fair competition. Emmer, advocating for stablecoins, highlighted their potential to bring traditional finance onto the blockchain while preserving privacy. He argued that stablecoin legislation should be prioritized alongside anti-CBDC efforts.
Emmer also stressed that the development of stablecoins could help bridge the gap between the traditional financial system and the decentralized economy, offering more secure and efficient financial transactions. He noted that a balanced approach to stablecoin regulation would allow for growth and innovation while protecting consumers from potential risks associated with digital currencies.
Additionally, the Center for Political Accountability (CPA) raised concerns over the growing political influence of crypto companies, revealing that they spent $134 million on the 2024 U.S. elections, potentially destabilizing regulatory frameworks. This influx of political spending highlights the mounting power of the crypto sector and its ability to sway policy decisions, adding another layer of complexity to the future of digital currency regulation.
Brad Garlinghouse has flatly denied that Ripple ever attempted to acquire Circle, the company behind the USDC stablecoin, shutting down weeks of speculation about a potential $5 billion deal.
A sharp rally could be brewing for the S&P 500, with analysts suggesting the index may push toward 7,400 in the coming months—a move that would mark a significant leap from its current level near 5,950.
Tokenized short-term funds are quietly reshaping how institutions manage liquidity, offering a digital alternative to traditional money market products.
Chris Toomey, a senior executive at Morgan Stanley, believes U.S. markets are turning a blind eye to the economic drag that could emerge from renewed tariff policies tied to Trump administration.