US Congress investigations into FTX are in limbo without a House Speaker

Historic standstill in US House of Representatives halts progress on crypto legislation...

The United States House of Representatives is currently experiencing a historic standstill in its process of choosing a Speaker for the 118th Congress, which could lead to a delay in committee hearings on various issues.  The House of Representatives is effectively unable to function without a Speaker, and without one, new lawmakers cannot be sworn in, the House cannot adopt rules, and committee assignments and legislation will not move forward.  This situation is a rare one, happening only 15 times since 1789, and the last time was in 1923 when it took a staggering nine rounds of voting to choose a Speaker. The implications of this standstill are significant, as it could indefinitely delay efforts to address fraud allegations at FTX and progress legislation on regulatory clarity for cryptocurrency firms. As the House remains in disarray, the U.S. Senate has been able to move forward and begin swearing in lawmakers on January 3. The divisions within the House stand in stark contrast to the relative unity in the Senate, highlighting the seriousness of the situation and the urgent need for a resolution. Read the full story here on Cointelegraph. Keep up with all the most interesting events happening in the crypto space. Leverage the same AI technology that Cointelegraph's journalists use to surface the latest news with the NewsQuakes™ service that's only available on Markets Pro — learn more. Russell DeCorte Director Markets Pro © 2022 COINTELEGRAPH MARKETS PRO COINFIDENTIAL. Copyright © 2023 Cointelegraph Markets Pro, All rights reserved. You are receiving this email because you opted in at our website. Our mailing address is: Cointelegraph Markets Pro 21 W 46th St New York, NY 10036-4119 Add us to your address book Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.