U.S. Representative and crypto-friendly lawmaker Patrick McHenry has been appointed as the interim Speaker of the House following the impeachment of U.S. House Speaker Kevin McCarthy. McHenry's appointment can be seen as a small victory for the digital asset industry. The Speaker sets the House's legislative agenda, controls committee assignments, and schedules the debate and vote on specific bills.
On the other hand, McHenry is seen as one of the biggest challengers to the Securities Exchange Commission's (SEC) regulatory approach to the cryptocurrency industry. In his testimony before Congress last week, McHenry questioned SEC Chairman Gary Gensler and suggested he was trying to "stifle the digital asset ecosystem."
However, McHenry's tenure as Speaker may be short, as the election for a new Speaker will be held on October 11, according to Bloomberg. Along with McHenry, the Reuters report suggests that pro-crypto Rep. Tom Emmer or even Donald Trump could replace McCarthy, but neither has publicly commented on seeking the position. Meanwhile, he confirmed that McCarthy will not run for Speaker of the House again. What do you think McHenry's appointment means for the crypto industry? We are waiting your comments.
On the other hand, McHenry is seen as one of the biggest challengers to the Securities Exchange Commission's (SEC) regulatory approach to the cryptocurrency industry. In his testimony before Congress last week, McHenry questioned SEC Chairman Gary Gensler and suggested he was trying to "stifle the digital asset ecosystem."
However, McHenry's tenure as Speaker may be short, as the election for a new Speaker will be held on October 11, according to Bloomberg. Along with McHenry, the Reuters report suggests that pro-crypto Rep. Tom Emmer or even Donald Trump could replace McCarthy, but neither has publicly commented on seeking the position. Meanwhile, he confirmed that McCarthy will not run for Speaker of the House again. What do you think McHenry's appointment means for the crypto industry? We are waiting your comments.