GOP’s McHenry Pressures Schumer to Move Ahead on Crypto Bills

Financial Services chair opposes push for marijuana banking
House passage of crypto package “wakeup call” for Senate

Joe Mathieu and Kailey Leinz interview House Financial Services Chair Patrick McHenry about the regulatory framework for digital assets passed by the House and the tasks in front of lawmakers between now and Election Day.Source: Bloomberg

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By Steven T. Dennis

May 30, 2024 at 6:43 PM UTC

This article is for subscribers only.

House Financial Services Chairman Patrick McHenry put the onus on Senate Democrats to move sweeping crypto legislation before the November election.

McHenry said Thursday that bipartisan House passage of crypto market structure legislation this month is a “wakeup call” for the Senate to act. Senate Majority Leader Chuck Schumer’s backing, he said, is similarly needed to reach a deal specifically regulating stablecoins.