Tom Emmer, a Republican congressman, has received support from a number of other politicians and is vying for the position of House Speaker. The Republican Party’s nominee, Jim Jordan, did not receive enough votes in the first round of voting on October 17, so Congressman Patrick McHenry is currently in charge of the job on an interim basis. On October 20, NBC News reporter Jake Sherman broke the news of Emmer’s pursuit.
Emmer, the third-ranking House Republican, would take over as the front-runner if he were to win the nomination. Unnamed sources close to Emmer confirmed to CBS News that he was making calls in an effort to secure a nomination. McHenry’s lack of authority as interim Speaker prevents him from advancing proposals in the House, particularly those pertaining to cryptocurrency.
Members of the crypto community would probably applaud Emmer’s election as Speaker. Emmer has a history of opposing the Securities Exchange Commission‘s and its chairman Gary Gensler’s regulation by enforcement strategy. Emmer has advocated for digital assets on numerous occasions. Emmer has already garnered some support for the decision; on October 20, Congressman Brad Finstad issued a statement endorsing Emmer for the position of Speaker of the House. Notably, fellow Republican Kevin McCarthy, who was removed from the Speaker position on October 4, is also said to have offered his support.