{"id":62541,"date":"2023-10-24T17:14:03","date_gmt":"2023-10-24T21:14:03","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=62541"},"modified":"2023-10-24T17:14:09","modified_gmt":"2023-10-24T21:14:09","slug":"rep-tom-emmer-faces-tough-race-for-house-speaker","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/rep-tom-emmer-faces-tough-race-for-house-speaker\/","title":{"rendered":"Rep. Tom Emmer Faces Tough Race for House Speaker"},"content":{"rendered":"\n

Rep. Tom Emmer, <\/a>who opposes a digital dollar, is the GOP\u2019s pick for Speaker of the House, but he lacks support from former President Trump and some party members.<\/p>\n\n\n\n

\"Rep.<\/figure>\n\n\n\n

The Republican Party has chosen Rep. Tom Emmer, a vocal advocate for the crypto industry, as its nominee for Speaker of the House, but he still faces a tough challenge to secure the position.<\/p>\n\n\n\n

Emmer, who serves as the House majority whip and co-chairs the Congressional Blockchain Caucus, won an internal election on Tuesday,\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> beating nine other candidates. <\/p>\n\n\n\n

However, he will need to get 217 votes <\/strong>from the House floor, which could happen as soon as this afternoon.<\/p>\n\n\n\n

According to sources close to the matter, Emmer\u2019s support is dwindling by the minute as he faces opposition from former President Donald Trump and some of his own party members. <\/p>\n\n\n\n

Trump, who has been critical of crypto in the past, said on his social media platform Truth Social that Emmer is not on his list of endorsed Republicans for Speaker.<\/p>\n\n\n\n

The Speaker role has been vacant for three weeks after Kevin McCarthy was ousted in early October following a scandal involving his campaign finances.<\/p>\n\n\n\n

Emmer is known for his anti-central bank digital currency (CBDC) stance, which he expressed in a bill he introduced in February and updated last month. <\/p>\n\n\n\n

\n

\u201cEmmer brings a fresh perspective, a lot of energy with his personality,\u201d said Ron Hammond, the director of government relations at the @BlockchainAssn<\/use><\/svg><\/span><\/a>, a crypto trade group. \u201cFor the industry, it\u2019s a great thing to have someone who understands these technologies.\u201d https:\/\/t.co\/KQq4MRMeyj<\/use><\/svg><\/span><\/a><\/p>— Ron Hammond (@RonwHammond) October 24, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

The bill aims to prevent the Federal Reserve from issuing a retail digital dollar, which Emmer argues would threaten privacy, sovereignty, and competitiveness.<\/p>\n\n\n\n

\n

\u201cAny digital version of the dollar must uphold our American values of privacy, individual sovereignty, and free market competitiveness,\u201d Emmer said in a statement. \u201cAnything less opens the door to the development of a dangerous surveillance tool.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Emmer\u2019s nomination comes at a time when congressional leaders are clashing with each other and federal agencies over how to regulate the crypto industry. <\/p>\n\n\n\n

Last week, the House passed an infrastructure bill that includes controversial crypto tax provisions despite protests from some lawmakers and industry groups.<\/p>\n","protected":false},"excerpt":{"rendered":"

Rep. Tom Emmer, who opposes a digital dollar, is the GOP\u2019s pick for Speaker of the House, but he lacks support from former President Trump and some party members. The Republican Party has chosen Rep. Tom Emmer, a vocal advocate for the crypto industry, as its nominee for Speaker of the House, but he still […]<\/p>\n","protected":false},"author":44,"featured_media":62543,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-62541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/gop-tom-emmer.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/62541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=62541"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/62541\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/62543"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=62541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=62541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=62541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}