U.S. Representative Tom Emmer, from Minnesota, a Republican well-known for his support of cryptocurrencies and criticism of regulators, has declared his candidacy for House Speaker. He joins eight other contenders, including Representatives Byron Donalds from Florida and Pete Sessions from Texas.

Having worked as House Majority Whip, Emmer has put forth many bills related to cryptocurrencies in recent years. One of them proposed a new definition for tokens, while another sought to stop the Federal Reserve from issuing a central bank digital currency (CBDC). In addition, Emmer has expressed his approval for a comprehensive regulatory system for cryptocurrencies and censured SEC Chair Gary Gensler for what Emmer perceives as a “regulation by harassment” attitude towards digital assets.

Former House Speaker Kevin McCarthy, a California Republican, reportedly nominated Emmer. On Sunday, he told NBC’s “Meet the Press” that the Minnesota Republican needs to get elected this week. McCarthy was, earlier in the month, already removed from the position due to a power struggle with lawmakers, such as Representative Matt Gaetz from Florida.

As mentioned, crypto-friendly congressman Patrick McHenry temporarily assumed the role of US House Speaker after Kevin McCarthy was removed by Congress.

The lack of a House Speaker has caused some to assert that it has delayed the advancement of crucial crypto-related bills. Two bills related to cryptocurrencies have already made progress in the House Financial Services Committee, headed by McHenry, but their further development depends on the choice of a new House Speaker.

Apart from Emmer, Donalds and Sessions have also expressed their support for crypto innovation. Donalds used social media in July to discuss the ambiguity caused by congressional inaction and an excessively strict SEC, which hinders blockchain innovators from doing business in the United States.

Other candidates, such as Representative Jim Jordan from Ohio and Representative Steve Scalise from Louisiana, have tried to acquire the position but failed to secure enough votes. The House is due to meet on Monday, with the vote for House Speaker expected to take place as soon as Tuesday. Additionally, the House Financial Services Committee has arranged multiple hearings for the week, one of which will be on Wednesday, focusing on “Modernizing Financial Services Through Innovation and Competition” in the digital asset sector. Discussions will also cover topics such as Hamas and sanctions evasion, as well as Iran’s access to funds.

Lawmakers, including Democratic Senator Elizabeth Warren from Massachusetts, have raised worries on how Hamas was able to raise millions of dollars with cryptocurrencies prior to attacking Israel.