Patrick McHenry Is Dragging Crypto Bills Through Congress
Rep. Patrick McHenry (R-N.C.) has had a significant influence on the progression of cryptocurrency bills in the U.S. House of Representatives. His temporary absence recently caused these bills to stall, but he has since resumed pushing for votes on the legislation. McHenry, the chairman of the House Financial Services Committee, is known for his tenacity and willingness to negotiate with the opposing party. He has put two bills on the table: one to regulate U.S. stablecoin issuers, and another to oversee the crypto markets. Both bills have had bipartisan support despite opposition from some senior Democrats. Current projections suggest that these bills may be delayed until 2024, but McHenry's persistence could see them become the first significant crypto legislation to be approved by the House, provided he can garner support from the Senate.
