Crypto News – Rep. Mike Johnson (R-La.), a less well-known and less contentious congressman, was elevated to the position of Speaker of the House by Republicans in the US House of Representatives after multiple failed efforts. Congress will be able to resume working on cryptocurrency legislation after Mike Johnson was elected speaker of the US House of Representatives.
The New President Mike Johnson on Crypto Activities Yet to Announce
Lacking any prior experience as a committee chairman or in senior leadership, the speaker received three more votes than the required 217 to take the position. In fact, he joined the legislature in 2017. On the other hand, Rep. Tom Emmer (R-Minn.), a crypto enthusiast, survived only four hours as the front-runner on Tuesday. Nonetheless, it appears that the well-liked politician did not have the pre-existing slate of foes that beset prior contenders.
Tom Emmer’s Election Campaign Ended Almost Before It Started Because of Trump
All 220 Republicans in the House on October 25th voted in favor of Johnson, while 209 Democrats supported Representative Hakeem Jeffries. After more than three weeks, the government body had clearly defined leadership for the first time after the referendum. Following a vote that removed former speaker Kevin McCarthy, Representative Patrick McHenry has been serving in an acting capacity as speaker since October 3.
In contrast to other contenders for speaker, not much is known about Representative Johnson’s opinions on cryptocurrency. Many in the industry had held out hope that Rep. Tom Emmer, a local supporter of digital assets in Congress, would take the gavel. But after a message from former US President Donald Trump advising hardcore Republicans not to back him, his campaign came to an end in a matter of hours.
The House of Representatives can now again bring bills to the floor for votes following Speaker Johnson’s swearing-in. The Financial Innovation and Technology for the 21st Century Act, the Blockchain Regulatory Certainty Act, the Clarity for Payment Stablecoins Act, and the Keep Your Coins Act are just a few of the proposals that lawmakers have already cleared out of committee. To avoid a possible government shutdown, the House might need to work on a new budget plan by November 17.
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