The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), the Vice Chairman of the Financial Services Committee and Chairman of the Digital Assets, Financial Technology and Inclusion Subcommittee, French Hill (AR-02), and the Chairman of the Oversight and Investigations Subcommittee, Bill Huizenga (MI-04), sent a letter to Federal Reserve… Read more »
Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), released the following statement after the Treasury Department and the Internal Revenue Service (IRS) issued a Notice of Proposed Rulemaking on digital asset reporting requirements from the Infrastructure Investment and Jobs Act.
“The notice of proposed rulemaking on digital asset… Read more »
The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), and Chairman of the Capital Markets Subcommittee, Ann Wagner (MO-02), sent a letter to the Public Company Accounting Oversight Board (PCAOB) urging the Board to reevaluate the proposed changes in its Exposure Draft regarding Company Noncompliance with Laws and Regulations (NOCLAR) standards. The… Read more »
The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement after the Securities and Exchange Commission (SEC) voted to approve a new rule regarding private fund management.
“Once again, Chair Gensler’s SEC is exceeding its statutory authority to impose onerous and costly mandates—this time on private funds,” said… Read more »
The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), led Republicans on the House Financial Services Committee in sending letters to Financial Industry Regulatory Authority (FINRA) President and CEO Robert Cook and Securities and Exchange Commission (SEC) Chair Gary Gensler regarding the approval of Prometheum Ember Capital LLC as the first and only special… Read more »
By Brian Brooks and Charles W. Calomiris
Stablecoins, blockchain-based assets backed by bank deposits and Treasury securities, are at the heart of a dollar-based revolution happening throughout the developing world. Their price is supposed to stay steady, often at $1. Think of them as digital versions of prepaid cards with the potential to be important tools of American soft… Read more »
Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), and the Chairman of the Subcommittee on National Security, Illicit Finance, and International Financial Institutions, Blaine Luetkemeyer (MO-03), issued the following statement in response to the Biden Administration’s Executive Order restricting outbound investment into… Read more »
The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement after PayPal announced the launch of its payment stablecoin. This follows the House Financial Services Committee passing the bipartisan Clarity for Payment Stablecoins Act, which identifies regulatory paths for approving and regulating stablecoin issuers while ensuring… Read more »
Today, the House Financial Services Committee, led by Chairman Patrick McHenry (NC-10), is holding a markup of legislation to establish a regulatory framework for payment stablecoins, protect self-custody for digital assets, overturn the CFPB’s disastrous small business lending data collection rule, and combat the influence of ESG initiatives in our financial markets. The… Read more »
Today, the Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement regarding federal financial regulators’ actions to consider raising capital requirements and implementing “Basel III” standards on U.S. financial institutions.
“While American families, workers, and small businesses continue to suffer the consequences of… Read more »
