The ongoing uncertainty in the realm of cryptocurrency is causing concern not only for companies but also for investors. Recently, a pro-crypto politician has taken a significant stance that might bring relief to investors and companies.
Pro-Crypto Tom Emmer’s bid for House Speaker
Pro-crypto and congressman Tom Emmer, is aiming the nomination to become the House Speaker. The 62-year-old Republican has garnered favors from several lawmakers.
Emmer’s plan for the Speaker’s role was initially reported by local media News on October 20, 2023, and later, on October 21, 2023, it was confirmed in a post on X (formerly Twitter). As the current No. 3 House Republican, he’s also considered a favorite choice for this role in this ongoing race.
Currently, Congressman Patrick McHenry is the temporary Speaker and has been leading the position since a failed attempt by Jim Jordan to secure the role in a vote on October 17, 2023. This ongoing situation in the House has delayed the progress on several bills, including those related to cryptocurrency, highlighting the need for a new Speaker.
The crypto community applauds Emmer’s nomination
Emmer’s potential appointment is seen with appreciation by the crypto community due to his vocal support for digital assets and his history of pushing back against regulatory overreach, notably from the Securities and Exchange Commission (SEC) and Chairman Gary Gensler.
Support for Emmer’s nomination is continuously rising. However, Congressman Brad Finstad released a statement supporting him as Speaker. Emmer has also received support from Kevin McCarthy, a former Speaker, who believes Emmer is the right person to unite the Republican conference and maintain a majority in the House.
This move in the House Speaker race holds importance for the crypto industry, as it could shape the legislative environment for digital assets and blockchain technology. The crypto community will be closely watching Emmer’s bid as it progresses through the nomination process.