{"id":167870,"date":"2023-10-04T09:18:23","date_gmt":"2023-10-04T03:48:23","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=167870"},"modified":"2023-10-04T09:18:23","modified_gmt":"2023-10-04T03:48:23","slug":"crypto-friendly-patrick-mchenry-takes-interim-house-speaker-position-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/crypto-friendly-patrick-mchenry-takes-interim-house-speaker-position-crypto-news\/","title":{"rendered":"Crypto-friendly Patrick McHenry takes interim House Speaker position – Crypto News"},"content":{"rendered":"
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United States Representative and crypto-friendly lawmaker Patrick McHenry has been appointed as interim House Speaker after the high-profile ousting of U.S. House speaker Kevin McCarthy. <\/p>\n

McCarthy\u2019s ousting came after a 216-210 vote by Congress, with eight of the 216 votes coming from McCarthy\u2019s fellow Republicans, marking the first time a House Speaker has been removed in U.S. history, according<\/a> to Reuters. <\/p>\n

The vote was prompted by a motion from one of McCarthy\u2019s political rivals, Matt Gaetz, who called into question several contradictory promises made by McCarthy.<\/p>\n

Though temporary, McHenry\u2019s appointment could be seen as a small win for the digital asset sector. The Speaker sets the House\u2019s legislative agenda, controls committee assignments, and schedules specific bills to be debated and voted upon in the chamber. <\/p>\n

House Speaker is considered the most influential position in the U.S. government behind the President and Vice President.<\/p>\n

Meanwhile, McHenry is regarded as one of the biggest challengers to the Securities Exchange Commission\u2019s <\/a>regulation by enforcement-style approach to the cryptocurrency sector. <\/p>\n

McHenry also grilled SEC Chair Gary Gensler<\/a> in his testimony before Congress last week, suggesting he\u2019s attempting to \u201cchoke off the digital asset ecosystem.\u201d McHenry also called Gensler out for refusing to be transparent with Congress about the SEC\u2019s connections with FTX and its former CEO, Sam Bankman-Fried.<\/p>\n

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SEC Chair @GaryGensler<\/a> refuses to schedule a Commission vote to provide Congress with requested documents.<\/p>\n

Should Gensler continue to stonewall, Republicans will have no choice but to issue the first subpoena to the SEC from my Committee to compel their production. https:\/\/t.co\/Aw5U0aJ0Tt<\/a><\/p>\n

\u2014 Patrick McHenry (@PatrickMcHenry) October 2, 2023<\/a><\/p><\/blockquote>\n

McHenry also released the discussion draft \u201cDigital Asset Market Structure Proposal\u201d on June 1, which purports to provide clarity, fill regulatory gaps, and foster innovation in the cryptocurrency space, <\/a>a paper that was praised by some industry leaders.<\/a><\/p>\n

Related: <\/em><\/strong>Rep. Patrick McHenry blames White House for lack of urgency on stablecoin bill negotiations <\/em><\/strong><\/a><\/p>\n

However, McHenry\u2019s tenure as House Speaker may be short-lived, with an official vote on a new House Speaker set for Oct. 11, according<\/a> to Bloomberg.<\/p>\n

A Reuters report speculates<\/a>\u00a0that along with McHenry, there is a possibility that pro-crypto Representative Tom Emmer or even Donald Trump could be a possible replacement for McCarthy, though none have publicly expressed interest in taking the position.<\/p>\n

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50-50 we get a crypto champion as Speaker now, with Whip Emmer and Speaker pro tempore McHenry in the running. Wild day.<\/p>\n

(Speaker of the House is third in power behind President and VP for the non-US followers out there.) https:\/\/t.co\/2ow5li2lnw<\/a><\/p>\n

\u2014 Ryan Selkis (@twobitidiot) October 3, 2023<\/a><\/p><\/blockquote>\n

Meanwhile, McCarthy has already\u00a0confirmed<\/a> he won\u2019t run for House Speaker again.<\/p>\n

Magazine: <\/em><\/strong>Opinion: GOP crypto maxis almost as bad as Dems\u2019 \u2018anti-crypto army\u2019<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

United States Representative and crypto-friendly lawmaker Patrick McHenry has been appointed as interim House Speaker after the high-profile ousting of U.S. House speaker Kevin McCarthy. McCarthy\u2019s ousting came after a 216-210 vote by Congress, with eight of the 216 votes coming from McCarthy\u2019s fellow Republicans, marking the first time a House Speaker has been removed […]<\/p>\n","protected":false},"author":2,"featured_media":167871,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-167870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=167870"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167870\/revisions"}],"predecessor-version":[{"id":167873,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167870\/revisions\/167873"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/167871"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=167870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=167870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=167870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}