For the first time in history! U.S. House Speaker McCarthy was ousted and crypto-friendly Congressman McHenry took over as acting

Why was McCarthy deposed? At present, the Republican Party has only a "narrow majority" in the House of Representatives, so if you want to pass a bill that the Democratic Party opposes, or remove the annoying speaker, the Republican Party must be very united and can run the vote by only 5 votes.

The recall was proposed by Republican Congressman Gates and approved by 8 Republicans, plus Democrats all in favor of the recall, resulting in a 216:210 vote to remove McCarthy.

Congressman Gates and a small group of Republicans criticized McCarthy for working with Democrats to pass the temporary spending bill, accusing McCarthy of not doing enough to cut spending and opposing further aid to Ukraine, arguing that the money should be used to combat illegal immigration to the United States.

And the reasons why Democrats do not favor McCarthy may be the following, such as: supporting Trump and promoting the impeachment investigation against Biden: The last straw is that McCarthy previously blamed the Democratic Party for the almost shutdown of the federal government in an interview with the media.

Who will take over the House of Representatives? The current pro tempore speaker of the House is represented by McCarthy ally Republican Patrick McHenty, whose term can end in as little as a few hours and as long as several months until Republicans can unite to elect a speaker.

What is Patrick McHenry's attitude towards cryptocurrency?

For those who regularly follow the regulation of the cryptocurrency market, McHenty may be no stranger, as he has supported further regulation of cryptocurrencies in the past.

In addition to being chairman of the House Financial Services Committee, he led the Financial Innovation and Technology 21st Century Act, which was introduced earlier this year, as well as the Payment Stablecoin Transparency Act.