House Majority Whip Tom Emmer Announces Congressional Crypto Caucus

House Majority Whip Tom Emmer (R-MN) announced the creation of the first-ever congressional crypto caucus on Monday, aiming to unify pro-industry lawmakers in voting on relevant legislation.

This announcement follows President Donald Trump’s directive to the Presidential Working Group to establish a “crypto strategic reserve,” which will include Bitcoin, Ethereum, Solana, Cardano, and XRP.

The caucus appears to be a bipartisan effort led by Emmer, a staunch crypto advocate, and Rep. Ritchie Torres (D-NY), a vocal ally of the industry.

In a post on X, Emmer characterized the caucus as “a nonpartisan group of members ready to mobilize to support and defend open, permissionless, and private innovation in the United States.” The term “private” may indicate an intention to suppress concerns that increased government involvement could lead to the creation of a central bank digital currency (CBDC).

Global entities like the European Union have actively developed digital currencies recently, while Trump sought to ban the creation of an American CBDC shortly after retaking the White House. Republicans have long argued that CBDCs could threaten financial privacy.

Decrypt reached out to Emmer’s office regarding the caucus’s priorities and the potential membership size but did not receive an immediate response.

House caucuses are organized groups of lawmakers focused on shared legislative goals, often voting in blocs. Numerous such groups currently exist on Capitol Hill, organized around identity, ideology, foreign policy, and industry representation.

Despite the less glamorous nature of the caucus’s announcement compared to recent high-profile political wins for crypto, like the dismissal of pivotal lawsuits and Trump’s commitment to a federal crypto stockpile, this move signals the sector’s increasing establishment as a special interest entity in Washington. After enduring significant political upheaval, perhaps achieving a stable presence similar to that of food staples is not so undesirable.