The Louisiana Republican is thought about a strong advocate of the crypto market.
Upgraded Jan 3, 2025, 9:20 p.m. UTCPublished Jan 3, 2025, 8:30 p.m. UTC
Rep. Mike Johnson (R-Louisiana) will get to keep the huge gavel after his fellow Republicans voted to re-elect him House Speaker on Friday afternoon.
Johnson, who has actually been openly backed by President-elect Donald Trump, had the ability to amass the minimum 218 votes required to win the task in the preliminary of ballot, though he needed to convince 2 of his fellow Republicans– Rep. Ralph Norman (R-South Carolina) and Rep. Keith Self (R-Texas)– who at first chose other prospects to alter their votes to him.
With Republicans just having a razor-thin margin of control of your home, Johnson might just manage to lose one vote– which he did, to Rep. Thomas Massie (R-Kentucky). Massie’s “no” vote came as not a surprise; he formerly informed previous Rep. Matt Gaetz that he would actually endure abuse before electing Johnson. Rather, Massie elected Rep. Tom Emmer (R-Minn.), the Majority Whip and a long time advocate of the crypto market. Emmer elected Johnson.
Friday’s ballot procedure– the very first agenda at the start of the 119th Congress– took just 2.5 hours in overall, a much swifter and more structured procedure than the previous election in Oct. 2023 that initially saw Johnson chosen.
Johnson has actually not been extremely outspoken about crypto concerns, he is extensively thought about to be a good friend to the market. He formerly elected the Financial Innovation and Technology for the 21st Century Act (more typically referred to as FIT21) and an anti-central bank digital currency (CBDC) expense.
Johnson’s re-election– and Emmer’s ongoing position as Majority Whip– implies crypto-friendly members of Congress are most likely well-positioned to press crypto legislation in 2025.
Cheyenne Ligon
On the news group at CoinDesk, Cheyenne concentrates on crypto guideline and criminal offense. Cheyenne is initially from Houston, Texas. She studied government at Tulane University in Louisiana. In December 2021, she finished from CUNY’s Craig Newmark Graduate School of Journalism, where she concentrated on service and economics reporting. She has no substantial crypto holdings.
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