Congressman Tom Emmer looks to protect crypto projects from the SEC

After last weeks intense Senate meeting where members questioned Libra's Mark Zuckerberg Congressman Tom Emmer thinks some crypto projects need protecting.

The Republican Congressman for Minnesota said U.S. authorities should only enforce securities regulations to cryptocurrencies that meet the traditional rules of securities.

Companies that have followed our current rules of the road, even if convoluted, deserve the certainty that they can offer their digital asset to the public and help contribute to a truly decentralized network

Last week he did defend Zuckerberg:

I can safely say that this is at least the second time you’ve testified before Congress, he told Zuckerberg, where members look like they have invested absolutely no time learning about new technologies in order to responsibly question tech companies

So at least one congress member is on the side of innovation He also noted although most blockchain companies, particularly in the U.S., try their best to follow the rules, authorities are adept at moving the goalposts. This makes it very hard for blockchain companies to know what to and if what they are doing is legal. Having clear guidelines would be very useful for the growth of the sector.