Crypto-friendly Rep. Tom Emmer pursues nomination for House speaker

Brian Quarmby2 hours agoCrypto-friendly Rep. Tom Emmer pursues nomination for House speakerTom Emmer has been “making calls” to secure a nomination for the speaker role, and it could be a boon for the crypto sector if he were to be voted in.805 Total views5 Total sharesListen to article 0:00NewsJoin us on social networksCrypto-friendly Republican Representative Tom Emmer is pursuing a nomination to become speaker of the United States House of Representatives, with the 62-year-old receiving endorsement from multiple lawmakers.

Representative Patrick McHenry continues to oversee the position on an interim basis following a first round of voting on Oct. 17. The Republican Party’s nominee for speaker, Jim Jordan, failed to secure the votes to assume the role.

Emmer’s pursuit was initially highlighted on Oct. 20 by NBC News reporter Jake Sherman, who stated in a post on X (formerly Twitter) that Emmer “has told members of the House Republican Conference that he will seek the nomination for speaker.”

“The Minnesotan is currently the No. 3 House Republican. He’ll immediately become the frontrunner in this race,” Sherman added.BREAKING -- TOM EMMER has told members of the House Republican Conference that he will seek the nomination for speaker.

The Minnesotan is currently the No. 3 House Republican.

He'll immediately become the frontrunner in this race.— Jake Sherman (@JakeSherman) October 20, 2023

CBS News also reported that an unnamed source close to Emmer had confirmed that he was “making calls” to pursue the nomination.

As interim Speaker, McHenry lacks the authority to push legislation forward in the House. As a result, progress on various bills, including crypto-related ones, has stalled, highlighting the importance of electing a new speaker.

If Emmer were to become Speaker, the move would likely receive a warm welcome from members of the crypto community.

Emmer has spoken in favor of digital assets on many occasions and has a history of pushing back against the regulation by enforcement approach from the U.S. Securities and Exchange Commission and its Chair, Gary Gensler.

Emmer has already received some public support.

Representative Brad Finstad released a statement on Oct. 20 supporting Emmer for the speakership.

Related:Chamber of Digital Commerce opposes SEC’s overreach in Binance lawsuit

“From the day that I arrived in Congress, it has been a privilege to work alongside Tom, and I have come to truly appreciate him as a mentor and as a friend,” he said, adding:“The American people deserve a functioning Congress. It is my hope that my House colleagues can come together to get this election done, get the House back in order, and get back to working for the American people.”Whether it’s across MN or across the country, @GOPMajorityWhip Emmer has the trust and respect necessary to lead. Proud to support him for Speaker.

Read my full statement: https://t.co/9awEimquY3— Congressman Brad Finstad (@RepFinstad) October 20, 2023

Notably, Representative Kevin McCarthy, a fellow Republican who was ousted from the speaker role on Oct. 4, has also reportedly thrown his support behind Emmer.

“He is the right person for the job. He can unite the conference. He understands the dynamics of the conference. He also understands what it takes to win and keep a majority,” he said.

Magazine:Crypto regulation — Does SEC Chair Gary Gensler have the final say?# Politics# Government# US Government# White House# RegulationAdd reactionAdd reactionRead moreEurope"s AML regulations come at a high cost — for your privacy and otherwiseCentral banks want to look under crypto’s hood — Is this a positive sign?Crypto bills could be delayed as many prepare for US gov’t shutdown