According to news on October 4, the U.S. House of Representatives voted today to remove Speaker McCarthy of the U.S. House of Representatives. McCarthy became the first speaker of the House of Representatives to be dismissed in U.S. history. Patrick Mchenry, the crypto-friendly chairman of the House Financial Services Committee, was appointed speaker pro tempore of the House. The House will then need to elect a new speaker, and McCarthy can run for the position again. Patrick Mchenry has been working on multiple cryptocurrency bills since last year. A bill that would create guardrails for U.S. stablecoins and another that would establish broad rules for the cryptocurrency market both received approval from the Financial Services Committee and are expected to come before the full vote as soon as next month.