Crypto Advocate Rep. Tom Emmer Enters House Speaker Contest with Eight Competitors
U.S. Representative Tom Emmer, a Republican from Minnesota known for his support of cryptocurrencies and criticism of regulators, has announced his bid for House Speaker.
Emmer is one of nine candidates vying for the position, which also include Representative Byron Donalds from Florida and Representative Pete Sessions from Texas.
Having served as House Majority Whip, Emmer has been actively involved in introducing bills related to cryptocurrencies in recent years.
One of his proposals sought to establish a new definition for tokens, while another aimed to prevent the Federal Reserve from issuing a central bank digital currency (CBDC).
Additionally, Emmer has shown support for a comprehensive regulatory framework for cryptocurrencies and has been highly critical of Securities and Exchange Commission (SEC) Chair Gary Gensler for what he perceives as a "regulation by harassment approach" towards digital assets.
Former House Speaker Kevin McCarthy, a Republican from California, reportedly nominated Emmer.
On Sunday, he told NBC's "Meet the Press" that the Minnesota Republican needs to get elected this week.
McCarthy himself was removed from the position earlier this month following a power struggle with lawmakers, including Representative Matt Gaetz from Florida.
As reported, crypto-friendly congressman Patrick McHenry temporarily assumed the role of US House Speaker after Kevin McCarthy was ousted by Congress.
Some argue that McCarthy's vacancy has caused a delay in advancing crucial crypto-related bills.
While two bills related to cryptocurrencies have made progress in the House Financial Services Committee, which McHenry leads, their further advancement is contingent upon the selection of a new House Speaker.
Among the
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