Tom Emmer, a Republican from Minnesota who has co-chaired the Congressional Blockchain Caucus and sponsored several bills pertaining to cryptocurrencies in recent years, announced on Saturday that he is running for the Speaker of the House.
Moving legislation and scheduling votes, the Speaker of the House is in charge of the House of Representatives. Having assumed the position earlier this year, Rep. Kevin McCarthy (R-Calif.) was removed from it earlier this month. Before her party lost the majority in the 2022 election, the previous Speaker was Democrat Nancy Pelosi (D-Calif.).
According to a person with knowledge of the situation, Emmer was calling for the Speaker on Friday. As the majority whip at the moment, he is the second-highest ranking member of the House Republican caucus.
Emmer is a sponsor of legislation that would prohibit the issuance of digital currency by central banks and define tokens in terms of cryptocurrencies within already-existing securities frameworks. He has endorsed letters and other initiatives that promote transparency in the cryptocurrency space.
Since Rep. Kevin McCarthy (R-Calif.) lost a move to resign that was supported by Rep. Matt Gaetz (R-Fla.), a member of his own party, the position has been empty for more than two weeks.
Congressmen Jim Jordan (R-Ohio) and Steve Scalise (R-La.) have already lost their bids to become speaker without receiving enough votes. Jordan lost his third House vote (and subsequently a secret caucus vote), which put an end to his campaign earlier on Friday. There are a few more lawmakers vying for the job, but the House won’t vote on any of them until the following week.
A tentative vote was set for Tuesday morning by Congressman Patrick McHenry (R-N.C.), who was Speaker Pro Tempore following McCarthy’s removal and chair of the House Financial Services Committee. The Republican contenders will gather on Monday to make their respective presentations after confirming their candidatures by Sunday.