New U.S. House Speaker Mike Johnson Sparks Hope for Advancing Digital Asset Legislation

cryptonews.com:

U.S. Representative Mike Johnson has been elected by his fellow Republicans to serve as the 56th Speaker of the US House of Representatives after three weeks of turmoil and three failed candidates.

In a decisive election on October 25, Representative Johnson secured the Speaker’s position with a vote of 220, while his opponent, Representative Hakeem Jeffries (D-N.Y.), saw a vote of 209, making him the Minority. This outcome officially anointed him as the successor to former Speaker Kevin McCarthy (R-Calif.) following McCarthy’s unprecedented removal earlier in the same month.

Before Johnson’s election, Representative Patrick McHenry had assumed the role of interim speaker starting on October 3. McHenry took on this role after a vote that resulted in the removal of former Speaker Kevin McCarthy from his position, setting the stage for the subsequent leadership changes in the House.

The election of Johnson as Speaker of the House was met with unanimous support from the Republican Party on the House floor. This marks a significant turning point, signaling the conclusion of a turbulent and contentious period within the House GOP conference.

During this time, the conference experienced the removal of McCarthy, underwent four Speaker nominee changes, and witnessed escalating tensions before ultimately settling on Johnson as its new leader. Johnson’s victory comes after serving two terms as the vice chair of the House Republican Conference, making it a pivotal moment in the House of Representatives’ leadership.

In contrast to some of the other candidates in the running for the position of Speaker, Representative Johnson’s stance on cryptocurrencies remains largely undisclosed. Though he was previously in charge of a subcommittee