Mike Johnson, the Republican representative from Louisiana, maintains his position as House Speaker, thanks to the support from his party colleagues who re-elected him on Friday. The re-election signifies that Johnson will continue to wield significant influence in the House.

Johnson’s re-election did not come without hurdles. Despite having the public endorsement of President-elect Donald Trump, he had to win over two of his party members – Rep. Ralph Norman from South Carolina and Rep. Keith Self from Texas – who initially cast their votes in favor of other candidates. Johnson secured the minimum requirement of 218 votes in the first round itself, thereby ensuring his victory.

Given the slim majority the Republicans have in the House, Johnson could ill afford to lose votes. However, he did lose one vote to Rep. Thomas Massie from Kentucky, who had previously voiced his opposition to Johnson. Massie cast his vote for Rep. Tom Emmer from Minnesota, who holds the position of Majority Whip and is a prominent supporter of the crypto industry. Emmer, in turn, voted for Johnson.

The voting process, which marks the beginning of the 119th Congress, was swift and efficient, concluding in just 2.5 hours. This is in stark contrast to the drawn-out process witnessed during the October 2023 elections, where Johnson first clinched the position.

While Johnson has been relatively silent on matters related to cryptocurrency, he is seen as a supporter of the industry. His voting record includes support for the Financial Innovation and Technology for the 21st Century Act (FIT21) and opposition to the central bank digital currency (CBDC) bill.

With Johnson’s re-election, and Emmer’s continued position as Majority Whip, the crypto-friendly members of Congress are ideally placed to champion cryptocurrency legislation in 2025.