Crypto Advocate Tom Emmer Nominated for House Speaker by Republicans

By: Eliza Bennet

Tom Emmer, well-known cryptocurrency activist, has been nominated for Speaker of the House by Republicans in Congress. Currently serving as majority whip, Emmer faces a challenging path ahead to secure the esteemed position as the vote within the House is yet to take place. Emmer has been an advocate for the crypto industry within Congress over past years, having championed various crypto-related bills.

The House Speaker’s seat has been vacant for three weeks following the removal of Kevin McCarthy. Steve Scalise and Jim Jordan, two candidates vying for the position, have fallen short in their attempts to secure. On the other hand, the incapability to finalize a Speaker of the House has effectively halted all legislation since the beginning of October.

Emmer, declaring his intention to run for Speaker's seat, considers himself a technology-savvy lawmaker who views crypto as a non-partisan issue. His nomination received support from individuals within the sector, with many noting his understanding of crypto technologies would prove beneficial. Despite these positive remarks, it remains uncertain if Emmer will have sufficient support to win as the Speaker.

The previous delays in securing a Speaker have halted progress in crypto bills passed by the Financial Services Committee slated to be addressed in the full floor vote. For the crypto bills to advance, Republicans need to secure 217 votes for a candidate depending on the number of lawmakers present. Regardless of the results of the upcoming voting rounds, Emmer's nomination clearly depicts a continuing fusion between politics and the growing cryptocurrency industry.