As Congress weighs the FTX collapse, Democrats appear split on how much more the Securities and Exchange Commission and its chair, Gary Gensler, could have done to stave off what the agency now calls ...
Tag: patrick mchenry
New top House Republican on markets isn’t as anti-ESG as some GOP want
Rep. Patrick McHenry (R-NC) and Chairman of the House Financial Service Committee Maxine Waters (D-CA) listen as David Marcus, CEO of Facebook’s Calibra, testifies on “Examining Facebook’s...
House committee weighing subpoena for Sam Bankman-Fried
Senior members of the House Financial Services Committee are weighing a subpoena to compel embattled former FTX CEO Sam Bankman-Fried to testify, though little time remains to enforce one during this ...
Binance role in FTX collapse under congressional scrutiny
Binance’s role in the sudden collapse of FTX, an event that sent reverberations around crypto markets, has come under congressional scrutiny, a senior House Republican confirmed to The Block. “T...
House Republicans seek central bank digital currency opinion from Department of Justice
Republicans on the House Financial Services Committee requested the Department of Justice share its assessment of a potential central bank digital currency, the lawmakers announced on Wednesday. Senio...
Rep. Davidson says ‘outside chance’ of stablecoin bill this year, likely next year with GOP majority
Congress has a shot at finalizing stablecoin legislation this year, says Congressman Warren Davidson, despite midterm elections in November breaking up the legislative calendar. “There’s an outside ch...
Draft stablecoin bill in Congress to require Fed, state regulator approval
Draft legislation to create a U.S. federal framework around stablecoins would temporarily ban the types of payment coins that are not backed by outside assets — similar to TerraUSD, an algorithmic sta...
Crypto industry, lawmakers slam Biden administration reports
Cryptocurrency industry groups and Republican lawmakers panned a set of highly anticipated digital asset reports from the Biden administration, saying the new documents “miss the mark” and “kick the c...
The House Stablecoin Bill Should Foster Innovation And Competition, Not Squash Them
House Financial Services Committee Chairwoman Maxine Waters, of Calif., right, speaks as ranking … [+] member Rep. Patrick McHenry, R-N.C., listens during a hearing of the House Financial Servic...
‘We need legislation’ on stablecoins
Stablecoins should be “appropriately regulated” to play a role in the financial system, Federal Reserve Board Chair Jerome Powell said on Thursday. “We need legislation on this,” Powell said. “There i...
Fate of stablecoin bill in doubt as House Financial Services Committee misses key deadline
The much talked-about but never resolved stablecoin bill still is not ready to see the light. With this Congress coming to a close and August recess beginning in days, the bill’s odds of becomin...
Lawmakers race to release draft of stablecoin bill ahead of August recess
US House of Representatives lawmakers could introduce draft text of a stablecoin bill as early as this week, a last-ditch effort to keep regulation front-of-mind ahead of the August recess. Lawmakers...