Patrick McHenry Doubts an Anti-Crypto Bill Can Pass the Incoming Democratic House
By Unchained
AI summary of the source article
Former House Financial Services Committee Chair Patrick McHenry stated he doubts the incoming Democratic House can pass anti-crypto legislation. He also noted the CFTC requires legislative authority over spot markets and predicted credit card rate caps have sufficient votes.
Key facts
- Patrick McHenry stated on Nov. 9 that he does not believe it is possible to pass an anti-crypto bill through the incoming House.
- McHenry said CFTC Chair Michael Selig lacks spot market authority, calling it necessary to police the crypto market and requiring legislative approval.
- McHenry stated there are votes in both chambers to pass a credit card interest rate cap and the Credit Card Competition Act.
Source excerpt · Unchained
The former House Financial Services Committee chair said the new Congress is more pro-crypto than those of six and eight years ago and that he sees votes for a credit card rate cap. The post Patrick McHenry Doubts an Anti-Crypto Bill Can Pass the Incoming Democratic House appeared first on Unchained .