Republican Congressman Tom Emmer, known for his support of cryptocurrencies and criticism of regulators, has announced his candidacy for House Speaker. Emmer is one of nine candidates competing for the position, including Byron Donalds from Florida and Pete Sessions from Texas. Emmer, who has previously served as House Majority Whip, has been actively involved in introducing bills related to cryptocurrencies. He has proposed a new definition for tokens and aimed to prevent the Federal Reserve from issuing a central bank digital currency. Emmer also supports a comprehensive regulatory framework for cryptocurrencies and has criticized SEC Chair Gary Gensler for his approach towards digital assets. Former House Speaker Kevin McCarthy reportedly nominated Emmer. The selection of a new House Speaker is crucial for advancing crypto-related bills, as two bills in the House Financial Services Committee have made progress but require further advancement. Donalds and Sessions, who are also candidates for House Speaker, have expressed support for crypto innovation. The House is expected to convene on Monday, with the vote for House Speaker likely taking place on Tuesday. The House Financial Services Committee has scheduled hearings for the week, including one on the digital asset sector.
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