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 »
Today, the House Financial Services Committee passed seven pieces of legislation out of Committee that 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. Included among this legislation is the… Read more »
Today, the House Financial Services Committee, led by Chairman Patrick McHenry (NC-10), is holding a markup of legislation to provide clear rules of the road for the digital asset ecosystem and address national security concerns. The FIT for the 21st Century Act is a historic first step towards achieving legislative clarity for digital assets, providing robust, time-tested… Read more »
Today, the House Financial Services Committee is considering the Financial Innovation and Technology (FIT) for the 21st Century Act to provide clarity for the digital asset ecosystem. This unprecedented effort, led by House Financial Services Committee Digital Assets, Financial Technology and Inclusion Subcommittee Chairman French Hill (AR-02) and House Agriculture Committee Chairman… Read more »
