WASHINGTON — As major cryptocurrencies nosedived over the summer and scores of Americans suffered huge losses, federal legislators and regulators faced mounting pressure to rein in the growing digital currency market.
Starting in the spring, the value of Bitcoin, Ethereum, and other top cryptocurrencies cratered in value from last year’s all-time highs, wiping out $2 trillion and sending several crypto firms into bankruptcy, with one facing allegations of rampant fraud.
But despite the turmoil, Rep. Tom Emmer, a powerful House Republican from Minnesota, has been steadfast in his support for the industry. While some in Congress approach the unstable crypto market with caution and concern, Emmer has promoted it as an opportunity for Americans to achieve financial freedom.
“It’s related to capital formation. For me, what’s supposed to make this country better than everywhere else is — I don’t have to know someone to be someone,” Emmer told Axios in August.
“Are we going to create an...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...