Patrick Machenry News

The House Financial Services Committee has advanced another two landmark crypto bills previously under consideration —  with one aiming to better regulate stablecoin issuers and another seen as positive for crypto self-custody in the United States.

cryptocurrency typically pegged to a traditional asset, often the U.S. dollar.

Legislation championed by crypto advocates that sets clearer rules for the nascent industry was approved by a key US House panel on Wednesday. 

United States House Financial Services Committee chair Patrick McHenry has pointed a finger at the Biden administration for the lack of bipartisan agreement on a stablecoin bill.

A key US House Committee on Wednesday passed a bipartisan bill to ensure regulatory clarity for cryptocurrencies.

Members of the United States House Financial Services Committee seem to be divided on the best legislative path forward dealing with regulatory clarity for crypto and blockchain technology.

regulatory framework for cryptocurrencies, a milestone for Capitol Hill in its efforts to codify federal oversight for the digital asset industry. The crypto industry has been in the regulatory crosshairs since investors were burned last year by sudden collapses of Celsius Network, Voyager Digital, FTX and other companies.

Coinbase CEO Brian Armstrong has reportedly said United States lawmakers have a renewed focus on regulatory clarity in the crypto space following talks with key officials.

The Chairman of the House Financial Services Committee (FSC), Patrick McHenry, announced a markup of a few legislations, three aimed at providing regulatory clarity for the digital asset ecosystem — cryptocurrencies, blockchain development and stablecoin payments.

An alliance of industry watchdogs based in the United States has united to express opposition to a proposed draft bill on the crypto market structure by the United States House Financial Services Committee.

Democrats with the United States House Financial Services Committee have introduced several bills in what they described as the “first wave” of legislation aimed at addressing failures at major banks.

The investors’ service of credit ratings agency Moody's has reported that without support from United States lawmakers on both sides of the political aisle for legislation focused on digital assets, investors and companies could turn to other crypto-friendly jurisdictions.

House Republican lawmaker said Tuesday that he intends to hold a committee vote on a comprehensive bill to establish a regulatory framework for cryptocurrency products in the coming weeks. Representative Patrick McHenry, chairman of the House Financial Services Committee, said he expects to put a bill forward for the panel to consider after lawmakers return to work on July 11. «I intend for this committee to mark up some form of this legislation when we return from the July 4 recess,» he said at a hearing Tuesday. McHenry has been leading an effort by some Republicans in Congress to pass a bill establishing clear rules for the crypto industry. A discussion draft put forward earlier this month by McHenry and others would clarify responsibilities for overseeing crypto products by regulators, and would give a pathway for crypto companies and exchanges to register with those agencies.

Members of the United States House Financial Services Committees met to discuss clarity for the digital asset ecosystem, with some invoking recent legal action from the Securities and Exchange Commission (SEC) against crypto firms.

Ava Labs CEO Emin Gün Sirer will be calling on United States officials to “nurture” and “support” responsible blockchain innovation, warning that they face “disastrous consequences” if they don't.

The House Financial Services Committee under its Republican leadership has dropped a new version of its stablecoin bill after receiving feedback from its Democratic members. 

The United States House Financial Services Committee has released the third draft of the stablecoin bill presented by the Republican chair Patrick McHenry. The latest draft of the bill is aimed at bipartisan legislation and includes certain proposals from both Republican and Democratic financial services committees. 

Messari CEO Ryan Selkis has praised a newly proposed Republican crypto bill, commenting it is a “10x improvement” on all other crypto bills introduced to the United States Congress so far.

The U.S. House Financial Services Committee will hold a hearing on June 13 on the topic of cryptocurrencies, potentially giving more clarity to the markets.

The United States Financial Services Committee has scheduled a hearing on digital assets to discuss digital assets and provide clarity for the ecosystem. 

If there were ever such a thing as an all-star lineup of regulators, the United States House of Representatives Agricultural Committee’s June 6 hearing on digital asset regulation would probably hold the record. The current chair of the Commodity Futures Trading Commission (CFTC) Rostin Behnam was joined by a former chair and a former acting chair of that agency, as well as a former commissioner. Coinbase chief legal officer Paul Grewal also appeared.