Mike Johnson Pushes Big Crypto Bill, Democrats May Back

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House Speaker Mike Johnson’s strategy to maintain Republican unity after the failed motion to vacate by dividing Democrats continues to play out well on the issue of cryptocurrency, Politico reported.

Johnson is putting out a major cryptocurrency bill that is opposed by the Biden administration, but has enough Democrats supporting it that the party leaders are not encouraging them to vote against the legislation. The bill would rein in the Securities and Exchange Commission’s authority over digital assets by splitting it with the Commodity Futures Trading Commission.

The move is acknowledgment of the growing bipartisan backing for the legislation before a Wednesday floor vote, according to Politico.

A House Democrat leadership email this week noted that Financial Services ranking member Rep. Maxine Waters of California and Agriculture ranking member Rep. David Scott of Georgia “strongly oppose” the bill, but it did not urge party members to vote “no.”