As many know currently things are not going smoothly in Washington, DC

As many know currently things are not going smoothly in Washington, DC. As someone who works on a Committee in the House of Representatives, it is an extremely challenging time. Congress is broken up into two different chambers the Senate with 100 Members, each state holds two votes/people, and then the House of Representatives which has 435 Members, each state is guaranteed at least 1 Member with additional Members being awarded along with district size due to population size or lack thereof. 

In the Senate, they have been able to get their chamber in order and "form" the Senate meaning all of the Members are sworn in, Committees have been formed, and schedules are being made. On the House side though this has been far from the case as the first order of business is to elect a Speaker of the House. Once selected only then can the Members be actually sworn into office and Members right now are actually considered Representative-Elect.

The party that is in control of the House typically has the Speaker nominee selected and they will get the position on the first ballot. That being said it is not unheard of to have multiple ballots but it has not been done in 100 years. Members from either party defecting and voting another way besides for the nominee is a practice that is still common and the two most recent Speakers Paul Ryan and Nancy Pelosi actually had this happen to them. 

It annoys me to say it but I really should have realized that this was going to happen, this paralysis of the House that is. I was way too optimistic in my thinking because I thought it would only take two votes with the first ballot sending the message before allowing Rep. McCarthey to get the job. The 20 Members who are causing this whole issue as well suffer from a critical flaw that blows up their whole reason for doing this. They still want Kevin McCarthey as the Speaker and they do not even have an alternative option choosing different people on almost every ballot. 

Without having a Speaker and thus not having Members sworn into Congress for Committee's a key date is fast approaching. Come Friday, January 13, if there is not a Speaker all of the people on Committee's are laid off effective immediately. This has placed us in this odd position of not being "created" yet due to the House not officially being in order but knowing at the same time that once this is settled it will be full pedal to the metal absolute chaos. 

For the crypto space though it means that absolutely nothing is getting done. Since we do not exist we are limited in our actions which depending on how you feel about regulations is either a great thing or an awful thing. The hearings and legislation that was introduced or talked about last year need to be reintroduced and scheduled for this Congress and that whole process is effectively dead without leadership. 

I had expected crypto hearings and bills to be released by March but at this rate, it could be April or possibly May before things really come together. The whole situation is a mess and staff like myself are left wondering as well will we have a job in a week or are they going to burn us all? We hope not but only time will tell for certain. 

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