Tagged: patrick mchenry

Michael Barr, a Former Ripple Advisor, Nominated as Vice Chair for Supervision of the Federal Reserve

The White House

Former Ripple advisor, Michael Barr has been nominated by President Joe Bident to become the Vice-Chair for Supervision of the Federal Reserve. The selection was announced by the White House earlier today. According to the administration, Barr is currently the Joan and Sanford Weill Dean… Read More

Today: Roundtable on Crowdfunding on 10 Year Anniversary of the JOBS Act, the Legislation that Created Investment Crowdfunding

Obama Signs the JOBS Act with Steve Case

Today, at 2:30 PM ET, Congressman Patrick McHenry, the ranking Republican on the House Financial Services Committee, will be hosting a roundtable to mark the 10th anniversary of the Jumpstart Our Business Startups (JOBS) Act of 2012. The JOBS Act legalized securities crowdfunding including, Reg CF,… Read More

Commissioner Hester Peirce: “Not the Securities and Environment Commission Yet,” as SEC Pushes for Rules Targeting Climate Related Disclosure

Securities and Exchange Commission SEC Stop

Today the Securities and Exchange Commission (SEC) proposed new rules to compel publicly traded firms to disclose climate-related information. The policy shift has long been anticipated and messaged by the Commission under the leadership of Chairman Gary Gensler. According to the SEC, new rules would… Read More

White House Executive Order on Digital Assets Aims to Promote Innovation While Mitigating Risk, Illicit Activity in Cryptocurrencies

White House Washington DC

As was widely anticipated, the White House has posted an Executive Order targeting digital assets and cryptocurrencies. In a statement the White House explained their goal: “The rise in digital assets creates an opportunity to reinforce American leadership in the global financial system and at… Read More

House Hearing Addresses Stablecoins and Regulation, Consensus May Emerge on Legislation

Washington DC the Capital Reflection

Earlier this week, the House Committee on Financial Services held a hearing on stablecoins or digital assets tied to fiat currency. The Hearing was driven by the recent report by the President’s Working Group (PWG) on Financial Markets. While stablecoins are not (yet) systemically worrisome,… Read More

McHenry Tells Secretary of the Treasury Janet Yellen to Clarify Digital Asset Reporting

Janet Yellen at House Financial Services Committee February 2016

Representative Patrick McHenry has joined with Representative Tim Ryan demanding that Secretary of the Treasury Janet Yellen clarify digital asset reporting requirements. McHenry is the ranking member on the House Committee on Financial Services and Ryan is a Democrat. The two are the original co-sponsors… Read More

House Committee on Financial Services Schedules Hearing on Digital Assets, Stablecoins

Majesty of Law Rayburn House Office Building Washington DC

The House Committee on Financial Services has posted the February hearing schedule and digital assets are on the list. According to an email from the Committee on February 8, 10 AM ET, a hearing will be held entitled “Digital Assets and the Future of Finance:… Read More

Congressman Patrick McHenry Sends Public Letter to Congresswoman Maxine Waters Requesting they Work Together on Digital Assets

Patrick McHenry 12.8.21

Congressman Patrick McHenry, the ranking member on the House Financial Services Committee, has sent a public letter to Congresswoman Maxine Waters, Chair of the House Financial Services Committee, requesting they work together to allow digital assets to “flourish.” Both Representatives have recently issued public statements… Read More

Congressman Patrick McHenry Issues Statement on Federal Reserve Review of CBDCs

Patrick McHenry 12.8.21

Earlier today the US Federal Reserve announced a discussion paper seeking feedback on the possibility of a digital dollar. Central bank digital currencies, or CBDCs, are being reviewed by central banks around the world as policymakers aim to uncover if digital currency issued by governments… Read More

Ranking Republicans Slam SEC Chair Gary Gensler for Rushing Proposed Rules by Limiting Comment Periods

Gary Gensler Senate Banking Committee Hearing

Senator Pat Toomey and Representative Patrick McHenry have sent a letter to SEC Chairman Gary Gensler criticizing his decision to limit comment periods on proposed rulemaking. McHenry is the Ranking Member on the House Committee on Financial Services and Toomey is the Ranking Member on… Read More

House Financial Services Committee Hearing on Digital Assets Provides Insight into Regulatory Needs of Crypto Industry

Digital Asset Hearing House Financial Services Committee 12.8.21

Earlier today (December 8, 2021), the House Financial Services Committee held a hearing on digital assets. As was previously reported, the witnesses included top crypto executives and thus provided the opportunity for a unique discussion between House members and crypto entrepreneurs. Chairwoman of the Committee,… Read More

Saule Omarova: Approval of Biden Administration’s Pick for Comptroller of the Currency is Looking Dicey

Saule Omarova 2018

The Office of the Comptroller of the Currency (OCC), an independent bureau under the US Department of Treasury, is the lead bank regulator in the US. Managed by the Comptroller of the Currency, it is a key federal agency in approving or denying national bank… Read More

Republicans on House Financial Services Committee Distribute Principles for Central Bank Digital Currency

Digital Dollar Washington

Central Bank Digital Currency (CBDC) is a hot policy topic in the US as well as the rest of the world. Many developed countries are reviewing the potential as well as the potential pitfalls for a CBDC. China is already testing a digital yuan live… Read More

McHenry Slams Infrastructure Bill as Reckless Spending, Notes New Digital Asset Reporting Requirements

Patrick McHenry

The infrastructure bill (H.R.3684) is on its way to becoming law. After a circuitous legislative path that saw extreme left legislative vote against the bill while several Republicans helped to push it across the finish line, a pinnacle of the Biden Administration’s legislative ambitions is… Read More

Congressman McHenry Issues Statement on PWG Stablecoin Report

Patrick McHenry House Floor June 2021

Congressman Patrick McHenry, the ranking member on the House Financial Services Committee, has issued a statement regarding President’s Working Group on Financial Markets (PWG) report on stablecoins. McHenry has long been supportive of innovation in financial services and recently he, along with Congressmen Tom Emmer… Read More

US Representatives Slam US Postal Office’s “Hidden” Financial Service Pilot Program

Stamp Postage Letter

Representatives Patrick McHenry and James Comer have sent a letter to the Postmaster General slamming the US Postal Service’s “hidden” financial service pilot program. McHenry is the ranking Republican on the House Committee on Financial Services. Comer is the ranking Republican on the House Committee… Read More

House Members Send Letter to Secretary Janet Yellen Requesting Clarification on Stablecoins

Warren Davidson

US House of Representatives Patrick McHenry, Tom Emmer, and Warren Davidson have co-authored a letter addressed to the Secretary of the US Department of Treasury Janet Yellen. The Congressmen have requested that Yellen clarify her position on stablecoins – digital assets typically tied to fiat… Read More

In Advance of Committee Hearing, Representative McHenry Requests SEC Chairman Gensler Clarify Contradictory Statements on Digital Assets

Patrick McHenry HFSC 2019 d

At 12 noon today, the House Committee on Financial Services will hold a hearing with SEC Chairman Gary Gensler testifying on behalf of the Commission. The regulation of digital assets (crypto assets) will be a pointed topic of discussion as has been already indicated in… Read More

Two House Representatives Introduce Micro-Offerings Legislation to Help Smaller Firms Raise Needed Funding

Tom Emmer 2

Congressman Patrick McHenry and Congressman Tom Emmer have joined to introduce new micro-offering legislation. McHenry is the ranking member on the House Financial Services Committee. Both McHenry and Emmer have long been supportive of financial innovation and small businesses in general. The Small Entrepreneurs’ Empowerment… Read More

Congressman Patrick McHenry Slams Biden’s Selection to Lead Office of the Comptroller of the Currency

Patrick Mchenry Sept. 2019

Congressman Patrick McHenry, the ranking minority member on the House Financial Services Committee and keen supporter of financial innovation, has issued a statement on the Biden’s Administration selection to manage the Office of the Comptroller of the Currency. Yesterday, President Biden announced he had selected… Read More

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