Patrick Machenry News

18.10 / 12:31

regulation Europe European Union lawmakers EU Commissioner urges lawmakers to hurry up with crypto regulations

While the European Union proceeds with smoothly passing its landmark crypto framework, the Markets in Crypto-Assets (MiCA), through the legislation phases, its financial services chief urges the American counterparts to keep in step to ensure the forthcoming regulations will be global, not local.

14.10 / 00:19

Stablecoin regulation legislation Rep. McHenry gives progress report on stablecoin legislation, says it’s an ‘ugly baby’

Patrick McHenry, ranking member of the United States House of Representatives Financial Services Committee, thinks the “conversation has become unmoored” about financial technology and needs to return to solving real world problems. He is in talks on legislation that may at least bring more clarity to stablecoins.

06.10 / 01:11

regulation Department Of Justice Congress lawmakers US lawmakers US lawmakers request Justice Dept share CBDC assessment

Republican members of the House Financial Services Committee have requested the Department of Justice provide its assessment and legislative proposals around a digital dollar within ten days.

21.09 / 09:39

UPS BLOCK Digital Luna Terra LUNA Price Drops As House Bill May Ban Stablecoins 'Like TerraUSD'

The USTC, LUNA and LUNC price are in the red today amid breaking news that a House stablecoin bill could see coins like TerraUSD banned for two years.

17.09 / 14:31

regulation crypto framework Framework Is the Biden Crypto Framework Bullish or Bearish for Crypto Prices?

The administration of President Joe Biden has recently released a regulatory framework for digital assets, but key participants in the space do not believe it adequate.

09.09 / 01:13

Government CBDC regulation lawmakers vice chair Republican lawmakers call for answers on digital dollar from Fed vice chair

Members of the House Committee on Financial Services have called for Federal Reserve vice chair Lael Brainard to clarify her position on a central bank digital currency ahead of deadlines set by United States President Joe Biden’s executive order on digital assets.

21.07 / 14:35

cryptocurrency Provident Digital stablecoins 'Stablecoins' To Face Bank-Like U.S. Regulation Under Draft Bill: Report

Issuers of 'stablecoins' tie their value to traditional currencies like the U.S. dollar.

21.07 / 00:19

Waters Patrick lawmakers Deal House Lawmakers Near Bipartisan Deal to Address Stablecoin Risks

WASHINGTON—A pair of key House lawmakers are close to a bipartisan agreement to impose tougher oversight of so-called stablecoins, a type of cryptocurrency intended to be pegged to the dollar or another national currency, according to people familiar with the negotiations.

17.06 / 20:39

proof-of-work Congress Bitcoin lawmakers US lawmakers US lawmakers urge EPA to consider the potential benefits of crypto mining

A group of 14 United States senators and House representatives have signed a letter to the Environmental Protection Agency extolling what they believe are the benefits of crypto mining.

19.04 / 12:19

regulation SEC crypto sector lawmakers SEC Faces Storm of Criticism from Crypto Sector, Lawmakers over ‘Exchange’ Re-definition Plans

The United States Securities Exchange Commission (SEC) and its Chairman Gary Gensler have received a slew of letters from pressure groups and parliamentarians voicing their concerns about proposed amendments to the Exchange Act, established in the 1930s. The agency plans to expand the legal definition of what an exchange is.

19.04 / 00:55

business regulation SEC Congress Congressmen tell SEC redefining long-standing concepts would be bad for digital ecosystem

Ranking member of the United States House Financial Services Committee Patrick McHenry and ranking member of the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets Bill Huizenga sent a letter Monday to Securities Exchange Commission (SEC) Chairman Gary Gensler to express their concerns about proposed SEC amendments to the Exchange Act of 1934 that would expand the definition of an exchange and the phrase “as a part of regular business.” The congressmen said the changes could stifle innovation in the digital asset ecosystem.

31.03 / 12:29

Digital Patrick lawmakers US lawmakers Meet the ‘crypto caucus’: The US lawmakers defending digital coins

After months of tortuous negotiations, Joe Biden’s bipartisan infrastructure bill was about to pass Congress last summer when Patrick McHenry became alarmed about one particular element. Along with colleagues in the Senate, the Republican member of Congress from North Carolina realised that a clause had been quietly inserted into the 2,700-page bill, which forced brokers of cryptocurrency to report their transactions and customer information to the tax authorities.

05.03 / 13:51

business Bitcoin services US Senate allows Virginia banks to offer crypto custody services

The United States Senate unanimously approved a bill amendment request that now allows traditional banks operating in the Commonwealth of Virginia to provide virtual currency custody services.

08.02 / 21:19

Government Stablecoin Congress lawmaker hearing US lawmaker pushes for state-level regulations on stablecoins at hearing on digital assets

Whether regulations on stablecoins and digital assets should be addressed at the state or federal level was the topic of discussion among at least two U.S. lawmakers in a hearing for the House Committee on Financial Services.

28.01 / 01:17

Law regulation Congress Broker House members urge US Treasury Secretary to clarify definition of broker in infrastructure law

A bipartisan group of members from the U.S. House of Representatives called on Treasury Secretary Janet Yellen to clarify the language in the infrastructure bill signed into law in November around the definition of "broker."

25.01 / 23:09

Stablecoin CFTC SEC Congress U.S. Congressman calls for ‘Broad, bipartisan consensus’ on important issues of digital asset policy

In a letter to the leadership of the United States House Financial Services Committee, ranking member Patrick McHenry took a jab at “inconsistent treatment and jurisdictional uncertainty” inherent in U.S. crypto regulation and called for the Committee to take on its critical issues.

19.11 / 00:53

Government regulation Taxes lawmakers US lawmakers US lawmakers introduce bill to 'fix' crypto reporting requirement from infrastructure law

A bipartisan group of United States lawmakers has introduced legislation to change the tax reporting requirements that will go into effect due to the recently signed infrastructure bill.

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