The Chairman of the House Financial Services Committee, Patrick McHenry, criticized the Biden Administration's proposed crypto tax regulations, claiming that they aim to "kill" the digital asset industry in the U.S. and urged for clearer rules.
The top Republican and Democratic candidates for the U.S. presidency have varying positions on cryptocurrencies, with Donald Trump being a skeptic, Ron DeSantis and Robert F. Kennedy Jr. being supporters, and Joe Biden taking a regulatory approach.
House Republican leader, Kevin McCarthy, faces the tough choice of either risking a government shutdown or alienating the hard-right flank of his party, which could lead to the loss of his speakership, as the House must pass a spending package to keep the federal government open before the end of the fiscal year on September 30th.
House Speaker Kevin McCarthy is facing a leadership challenge as he navigates a government funding battle between House Republican hard-liners opposing Ukraine aid and threatening a government shutdown, and Senate Republican Leader Mitch McConnell, who supports Ukraine aid and opposes a shutdown.
The Chairman of the House Financial Services Committee, Patrick McHenry, has announced two upcoming hearings on September 19, 2023, concerning capital markets, financial institutions, and monetary policy.
House Speaker Kevin McCarthy is standing firm on a short-term government funding deal negotiated by members of the House Freedom Caucus and Main Street Caucus, despite opposition from conservative members who claim they have not read the deal.
House Speaker Kevin McCarthy's ability to pass a short-term funding measure to keep the US government open is threatened by GOP infighting and the possibility of seeking an agreement with Democratic lawmakers, which could lead to an attempt to oust McCarthy from his position.
Crypto legislation is unlikely to progress in the current US Senate, according to former Senator Pat Toomey, despite recent progress in the House, although the lack of a clear position from Senate Banking Committee Chairman Sherrod Brown may be seen as a positive sign according to Coinbase's policy chief.
Despite threats from conservative Republicans to remove him, Rep. Kevin McCarthy's position as Speaker of the House is secure as there are no viable alternatives that the majority of Republicans would support.
Sen. Kirsten Gillibrand is rallying fellow Democrats in Congress, particularly those on the Senate Banking Committee, to prioritize crypto regulation and believes that bipartisan support can be achieved through conversation and socialization of ideas in her digital assets bill co-authored with Sen. Cynthia Lummis; however, progress in the Senate remains uncertain due to crypto skepticism among some lawmakers and the current funding stalemate that may result in a government shutdown.
House Financial Services Committee Chair Patrick McHenry is committed to pushing stablecoin regulation to President Biden's desk, despite the possibility of a government shutdown, as states and federal lawmakers continue to grapple with the issue.
House Freedom Caucus members and other hardline Republican conservatives are furious with House Speaker Kevin McCarthy for relying on Democratic votes to pass a short-term funding extension, but it remains uncertain whether they will take action to oust him as speaker.
In an unprecedented move, the House voted to remove Kevin McCarthy from the speakership, leaving the chamber without a leader and plunging it into chaos; it is unclear who will succeed McCarthy as speaker.
Financial markets face a problem as Kevin McCarthy is ousted as House Speaker.
The ouster of Rep. Kevin McCarthy as House Speaker may result in a dysfunctional legislature and a potential downgrade of the U.S. federal debt rating, driving up borrowing costs for the average American.
Most of the top Republican candidates for president in 2024 expressed concern over the ousting of House Speaker Kevin McCarthy by a faction of hard-liners in their party, but former President Donald Trump did not denounce the move and even suggested that he might consider serving as House speaker himself.
A group of GOP representatives wrote a letter expressing their disapproval of the ousting of Rep. Kevin McCarthy as speaker, stating that it goes against the will of the majority of Republicans and calling for a review of the rules changes made earlier this year; meanwhile, House Republicans are scrambling to elect a new speaker and pass spending bills before government funding runs out.
House lawmakers are unsure whether acting Speaker Patrick McHenry can participate in a Gang of Eight intelligence briefing on the crisis in Israel, as it is up to the White House to decide, highlighting the untested legal territory the House is in without a elected Speaker.
The sudden ouster of House Speaker Kevin McCarthy and the potential replacements of Steve Scalise or Jim Jordan could make compromise on issues like energy, ESG investing, and cryptocurrency even more unlikely in Washington.
Rep. Kevin McCarthy is open to serving as House speaker again if enough Republicans who voted for his removal are willing to reinstate him.
The leadership mess in the U.S. House of Representatives could disrupt crypto legislation, casting uncertainty on the industry's hopes for clear regulatory rules and leaving it at risk of being sidelined as a volatile financial sector. The budget debate and the search for a new speaker of the House may delay progress, but there is still a possibility for crypto bills to advance before the end of the year. However, the Senate remains a hurdle, as there is limited enthusiasm among senators for crypto legislation.
Despite being voted out by his own caucus, Republican Kevin McCarthy is open to retaking the position of Speaker of the House if asked, while his fellow Republicans contemplate their next move amidst the international crisis in Israel.
If House Republicans fail to choose a new speaker, Acting Speaker Pro Tempore Patrick McHenry could likely govern with his pragmatic skills as the chair of the House Financial Services Committee, despite not wanting the role of speaker, according to Republicans who know him, though his flexibility may not satisfy hard-liners.
House Republicans are set to choose a replacement for Kevin McCarthy as speaker of the House, with Steve Scalise and Jim Jordan as the front-runners, but it remains uncertain whether a consensus will be reached quickly due to the ongoing crises in the Middle East and government funding.
The recent vote to oust Speaker Kevin McCarthy in the House of Representatives is a sign that the institution is becoming more like a parliamentary system, with party leaders having increased power and bipartisanship becoming more difficult.
House Republicans are in disarray and are struggling to find a replacement for Rep. Kevin McCarthy as speaker of the House, with their nominee Rep. Steve Scalise facing opposition from certain members of the Republican conference.
House Republicans are considering expanding the powers of Speaker Pro Tem Patrick McHenry as they continue to struggle with selecting a new Speaker.
Lawmakers in the House are growing restless with the current deadlock on selecting a new speaker, and some are urging Rep. Patrick McHenry to interpret his powers as speaker pro tempore more broadly in order to get the House working again, even if it means setting a new precedent.
Former House Speaker Kevin McCarthy is endorsing Judiciary Committee Chairman Jim Jordan for the position of House Speaker, as Rep. Austin Scott has also announced his candidacy. McCarthy believes Jordan is better prepared and has the votes to become the next Speaker, while Scott emphasizes the need for a functioning House.
A group of Democrats are advocating for temporarily expanding the authority of House Speaker Pro Tempore Patrick McHenry to address urgent bills such as government funding and foreign aid.
House Minority Leader Kevin McCarthy announced his support for Rep. Jim Jordan as Speaker, following Jordan's nomination by Republicans, but Jordan is still short of the 217 votes needed to secure the position.
Moderate Democrat lawmakers propose expanding House Speaker Pro Tempore Patrick McHenry's powers in exchange for more bills on the floor to address pressing issues, including foreign aid funding for Ukraine and Israel and avoiding a government shutdown.
Rep. Jim Jordan will temporarily back Speaker Pro Tempore Patrick McHenry until January 3, as he does not believe he can secure enough votes to become the House speaker.
Jim Jordan has decided to delay his bid for House speakership and instead support Patrick McHenry as interim speaker until January, as a handful of Democrats and Republicans call for the expansion of McHenry's powers. Additionally, U.S. Attorney General Merrick Garland has stated that the Justice Department is monitoring an increase in threats against Jewish, Muslim, and Arab communities in the United States tied to the Israel-Hamas conflict.
Rep. Patrick McHenry, a GOP congressman from North Carolina, is emerging as America's latest political obsession and is poised to step into the speaker's chair, despite his history as a "bomb-thrower" and hard-liner within the party.
Rep. Patrick McHenry, a pragmatic and bipartisan dealmaker, is being considered to run the U.S. House, a prospect welcomed by the business community as it seeks stability amidst Washington dysfunction and a potential government shutdown.
Rep. Patrick McHenry, a Republican from North Carolina, has threatened to resign as speaker pro tempore if Republicans try to expand his powers without an explicit vote, highlighting the GOP's struggle to choose a new speaker and the potential for future temporary speakers to have full power without being elected on the House floor.
House Republicans calling on acting Speaker Patrick McHenry to temporarily wield the powers of the speakership may face legal challenges if he does so without a formal vote, according to former lawyers for the House, but a formal vote to grant him those powers would likely hold up in court.
Republican Representative Tom Emmer, who is known for his support of digital assets, is pursuing a nomination to become Speaker of the United States House of Representatives, receiving endorsements from multiple lawmakers and potentially bringing positive changes for the crypto sector if elected.
Speaker Pro Tem Patrick McHenry is being considered as a potential temporary Speaker of the House by House Republicans, despite his repeated statements that he does not want the position.
Minnesota Republican Rep. Tom Emmer's candidacy for House speaker has given the beleaguered cryptocurrency lobby renewed hope as he is a long-standing advocate for the industry and has the potential to bring legitimacy and support to the crypto community.
House Minority Leader Kevin McCarthy is considering a plan to become House speaker again, with Rep. Jim Jordan as the assistant speaker, in a bid to unite warring factions within the House Republican Conference.
There is a new plan to make Rep. Kevin McCarthy the speaker again, with Rep. Jim Jordan as his assistant, but an MSNBC panel found the idea laughable.
With the election of Mike Johnson as speaker of the U.S. House of Representatives, Congress can now advance on crypto bills.
