The lack of a Speaker in the House has raised worries about the status of crypto-related laws pending approval by the legislative body.Congressman Tom Emmer, recognized for introducing many cryptocurrency-related initiatives and co-chairing the Congressional Blockchain Caucus, is presently running for Speaker of the House.The Speaker of the House has a critical role in administering …
The lack of a Speaker in the House has raised worries about the status of crypto-related laws pending approval by the legislative body.
Congressman Tom Emmer, recognized for introducing many cryptocurrency-related initiatives and co-chairing the Congressional Blockchain Caucus, is presently running for Speaker of the House.
The Speaker of the House has a critical role in administering the House of Representatives, including coordinating voting schedules and promoting legislation passage. Rep. Kevin McCarthy was appointed to this position earlier this year, but he was relieved of it earlier this month.
Democrat Nancy Pelosi previously served as Speaker until her party lost control of the House in the 2022 election.
Emmer has submitted legislation seeking at creating explicit guidelines for how cryptocurrencies and tokens should be regulated inside existing securities regimes. He has also backed efforts to avoid the creation of a central bank digital currency. Emmer has actively participated in initiatives and letters calling for regulatory clarification in the bitcoin business.
Meanwhile, both Congressmen Steve Scalise and Jim Jordan have failed to garner enough support to become Speaker.
Furthermore, Congressman Patrick McHenry (R-NC), the chairman of the House Financial Services Committee and the Speaker Pro Tempore since McCarthy’s ouster, has provisionally planned a vote for Tuesday morning. Republican candidates must confirm their candidacy by Sunday before meeting on Monday to submit their reasons.
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