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House Passes CBDC Anti-Surveillance State Act

Today, the U.S. House of Representatives passed H.R. 5403, the CBDC Anti-Surveillance State Act, sponsored by Majority Whip Tom Emmer (MN-06). H.R. 5403 halts unelected bureaucrats from issuing a central bank digital currency (CBDC)—which would threaten Americans’ right to financial privacy—without explicit authorization from Congress. Watch Chairman Patrick McHenry’s (NC-10) remarks in support of H.R. 5403 on the House floor here. Read Chairman McHenry’s remarks as prepared for delivery: “Today...

McHenry Demands Gruenberg Testify at Hearing on FDIC Toxic Workplace Culture

Today, House Financial Services Committee Chairman Patrick McHenry (NC-10), sent letters to Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg, as well as Acting Comptroller of the Currency Michael Hsu and FDIC Director Johnathan McKernan in their capacity as Co-Chairs of the Special Committee of the FDIC. Chairman McHenry is demanding they—along with a representative from Cleary Gottlieb—appear before the Committee to testify following an independent, apolitical report confirm...

McHenry, Hill, Huizenga Probe SEC for More Information on Prometheum’s Plans to Custody ETH

Today, House Financial Services Committee Chairman Patrick McHenry (NC-10), Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill (AR-02), and Oversight and Investigations Subcommittee Chairman Bill Huizenga (MI-04) sent a letter to Securities and Exchange Commission (SEC) Chair Gary Gensler demanding the SEC clarify its position with regard to Prometheum’s recent announcement that it will offer custody services for Ethereum’s token, Ether (ETH). This follows the S...

McHenry on the House Floor: FIT21 Will Cement the United States’ Global Leadership in Technological Innovation, Invention, and Adoption

Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), led Republicans on the House floor as lawmakers debated H.R. 4763, the Financial Innovation and Technology (FIT) for the 21st Century Act. FIT21 provides the robust, time-tested consumer protections and regulatory certainty necessary to allow digital asset innovation to flourish in the United States. Watch Chairman McHenry’s remarks here. Read Chairman McHenry’s remarks as prepared for delivery: “Today, Congr...