Rep. Tom Emmer, a Republican who is supportive to cryptocurrencies, is running for speaker of the US House of Representatives. Several politicians have endorsed the 62-year-old.After the initial round of voting on October 17, Representative Patrick McHenry is still in charge of the post in an interim capacity.Jim Jordan, the Republican Party’s choice for speaker, was unable to receive enough votes to take over as speaker.Reporter Jake Sherman of NBC News first brought attention to Emmer’s search on October 20. Sherman wrote on X (previously 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.
Additionally, according to CBS News, an unidentified source close to Emmer revealed that he was “making calls” to seek the nomination.McHenry does not have the power to advance legislation in the House as the acting Speaker.As a result, work on a number of bills—including ones pertaining to cryptocurrency—has stopped, underscoring the need of choosing a new speaker.Members of the cryptocurrency community would probably appreciate Emmer’s decision to become Speaker.Emmer has advocated for digital assets on numerous occasions and has a track record of opposing the U.S. Securities and Exchange Commission’s enforcement-based approach to regulation, which is led by Gary Gensler.
The public has already shown some support for Emmer.On October 20, Representative Brad Finstad issued a statement endorsing Emmer for the speakership.
“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.”
Notably, Emmer is apparently receiving support from Representative Kevin McCarthy, a fellow Republican who was removed from office as speaker on October 4.
“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.