Pro-Crypto Republican Tom Emmer Pursues House Speaker Nomination Amid Support from Lawmakers
Summary:
Republican Representative Tom Emmer, known for his crypto-friendly stance, is in the running for the House Speaker nomination. His campaign has received several endorsements, including from fellow Representatives Patrick McHenry and Brad Finstad. Emmer's nomination would likely be welcomed by the crypto community considering his history of supporting digital assets and opposing regulation by enforcement.
Pro-crypto Republican Representative Tom Emmer has received several endorsements in his bid to secure the House Speaker nomination. Representative Patrick McHenry is currently holding the role in an interim capacity, following the unsuccessful first round of voting on October 17 to select the Republican Party's nominee for Speaker, which saw nominee Jim Jordan unable to acquire enough votes to assume the position. NBC News reporter Jake Sherman initially shed light on Emmer's ambitions on Twitter on October 20th, stating that Emmer had made it known to his Republican House Conference peers that he would be vying for the Speaker nomination.
Currently identified as the 3rd highest ranking Republican in the house, Emmer's announcement potentially puts him in the pole position for the contest. CBS News also shared that an anonymous insider close to Emmer reported that he was actively seeking support for his nomination. In his current role as acting Speaker, McHenry is unable to drive legislation in the House, which has subsequently caused delays in the progression of numerous bills, including those related to crypto.
Should Emmer secure the role as Speaker, his appointment would likely be well-received by the crypto community, thanks to Emmer's consistent support for digital assets and his opposition to regulation by enforcement, a tactic regularly employed by the Securities Exchange Commission and its chairman Gary Gensler. While he endeavors to clinch the nomination, Emmer has already encountered support for his campaign. House Representative Brad Finstad expressed his support for Emmer's Speaker bid on October 20th.
Speakership outcast Kevin McCarthy, a fellow Republican who was removed from the position on October 4th, reportedly also joined Team Emmer, describing him as the perfect candidate. The potential House Speaker, McCarthy elaborated, comprehends the complexities of the conference and knows what is required to win and maintain a majority.
Published At
10/21/2023 6:07:55 AM
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