TechFlow reports on October 26 that U.S. House Republican Mike Johnson has been elected as the next Speaker of the House. In the vote held on October 25, all 220 Republicans in the House voted for Johnson, while 209 Democrats supported Representative Hakeem Jeffries. Since former Speaker Kevin McCarthy was ousted on October 3, Representative Patrick McHenry has served as interim Speaker. Unlike other House Speaker candidates, Johnson's stance on cryptocurrency is largely unknown.
Meanwhile, French Hill, Vice Chair of the House Financial Services Committee, chaired a subcommittee hearing titled "Modernizing Financial Services through Innovation and Competition." The hearing focused on cryptocurrency-related legislation, including the Financial Services Innovation Act and the Review of Consumer Choice in the Digital Payments Act. With Johnson's swearing-in, the House can now once again bring legislation to a vote.
