Although the U.S. government shutdown crisis has been temporarily lifted, Congress is still in turmoil. House Speaker Kevin McCarthy was ousted and crypto-friendly Rep. Patrick T. McHenry took over as speaker pro tempore.

McCarthy becomes first speaker to be ousted from office

Although the U.S. government shutdown crisis has been temporarily lifted, Congress is still in turmoil. U.S. Republican Representative Matt Gaetz initiated a motion to recall House Speaker Kevin McCarthy, accusing McCarthy of cooperating with Democrats to pass a temporary funding bill to avoid a government shutdown. Finally, it can no longer represent the interests of the Republican core team. McCarthy ultimately voted 216 to 210, becoming the first speaker in history to be removed from office.

Crypto-friendly McHenry takes over as speaker pro tempore

And crypto-friendly Rep. Patrick T. McHenry will take over as House speaker on an interim basis. McHenry chairs the House Financial Services Committee, which introduced two bills this summer to regulate cryptocurrencies, as well as a bill targeting stablecoins.

McHenry has also repeatedly expressed dissatisfaction with the actions of the U.S. Securities and Exchange Commission (SEC). He once said, “When digital asset companies don’t know that the law applies to them, you accuse them of not complying with the law and punish them. This is ridiculous! ”. According to The Block, he also threatened to subpoena SEC Chairman Gary Gensler last week, accusing him of not being honest with Congress about his interactions with bankrupt cryptocurrency exchanges FTX and SBF.

This is the first time in the history of the United States that the position of Speaker of the House of Representatives has become vacant. There is no specific provision for how long the interim speaker can remain in power before a new vote is held on the permanent speaker.

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