Surprisingly candid discussion about crypto & AI regulation with Congressman Tom Emmer, Majority Whip US House of Representatives

He was one of many politicians to speak at the Consensus Conference in Austin this week. Why so many and why so positive?

Well a few weeks ago Trump came out very pro-crypto. Part of his statement was

“I will support the right to self-custody to the nation’s 50 million crypto holders. I say this, with your vote I will keep Elizabeth Warren and her goons away from your Bitcoin.”

This seems to have brought a surge of pro-crypto enthusiasm from the Democrats. As a result, crypto-friendly legislation moving through Congress in the last two weeks drew a surprising level of bipartisan support.

This resulted in a very different vibe to the conference this year compared with last year.

2023 conference was very subdued due to:
1. Deep in the crypto winter (prices way down)
2. FTX disaster
3. SEC prosecuting a lot of crypto players which resulted in us having a lot of conversations with big US crypto players looking to exit the US

2024 was very upbeat as:
1. Crypto prices are back
2. The SEC very recently approved 8 Etherium ETFs – a move which surprised almost everyone given how anti-crypto SEC Chair Gensler has been
3. The politicians (including Congressman Emmer) seemingly are very keen on crypto (To be fair Emmer has been supportive of crypto for quite a while)

What a difference a year makes in crypto – especially if it happens to be an election year.