US lawmakers discuss digital assets and the House gets a new Speaker

Members of the USA Home of Representatives have chosen Mike Johnson to be the physique’s subsequent speaker — the second in line to the U.S. presidency and a really highly effective determine in Congress. 

In an Oct. 25 vote, all 220 Republicans current within the Home voted for Johnson, whereas 209 Democrats forged ballots for Consultant Hakeem Jeffries. The vote marked the primary time in additional than three weeks that the federal government physique had clearly outlined management. Consultant Patrick McHenry had been appearing as momentary speaker since Oct. three following a balloting out former speaker Kevin McCarthy.

In contrast to different candidates thought-about for speaker, Consultant Johnson’s views on crypto had been largely unknown. Many within the house had been hopeful that Consultant Tom Emmer — a neighborhood advocate for digital property in Congress — would win the gavel. Nevertheless, his marketing campaign lasted just a few hours following an announcement from former U.S. President Donald Trump urging far-right Republicans to not assist him.

In line with @coinbase, the brand new candidate for Speaker of the Home @RepMikeJohnson’s sentiment in direction of crypto is “Unclear” as a result of he hasn’t but made any statements about it. pic.twitter.com/5CEKjNkctr

— yuga.eth (@yugacohler) October 25, 2023

Associated: US Congress stays legislatively paralyzed on crypto payments with out a Home speaker

Whereas McHenry was probably preoccupied with making ready for the Home vote, Monetary Providers Committee vice chair French Hill led a subcommittee listening to on ‘Modernizing Monetary Providers Via Innovation and Competitors.’ The listening to centered on discussions round crypto-related laws, together with the Monetary Providers Innovation Act and Analyzing Shopper Selection in Digital Funds Act.

With the swearing-in of Speaker Johnson, the Home of Representatives can as soon as once more deliver laws to the ground for votes. Lawmakers beforehand handed payments out of committee, together with the Monetary Innovation and Expertise for the 21st Century Act, the Blockchain Regulatory Certainty Act, the Readability for Cost Stablecoins Act and the Preserve Your Cash Act. Nevertheless, the Home might have to maneuver on a brand new spending invoice earlier than Nov. 17 to deal with a possible authorities shutdown.

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