Does Patrick McHenry Support Crypto?

Based on previous comments, Patrick McHenry has indicated they are very pro-cryptocurrency. Below you can view the tweets, quotes, and other commentary Patrick McHenry has made about Bitcoin, Ethereum, and cryptocurrency innovation.

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Very Pro-Crypto

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Patrick McHenry
@PatrickMcHenry
The mere fact that the U.S. now has a crypto and AI “czar” reflects the impact of @FinancialCmte. The era of regulation by enforcement is over. With folks like David Sacks and Paul Atkins, the future of the digital asset ecosystem in the U.S. is brighter than ever.
· via Twitter
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Very Pro-Crypto

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Patrick McHenry
@PatrickMcHenry
Paul Atkins has the expertise and experience needed to restore faith in the SEC. I’m confident his leadership will lead to clarity for the digital asset ecosystem and ensure U.S. capital markets remain the envy of the world.
· via Twitter
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Very Pro-Crypto

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Patrick McHenry
@PatrickMcHenry
Chair Gensler will leave the SEC with less authority, independence, and credibility. I hope the next SEC Chair will provide clarity for digital assets, facilitate capital formation, and ensure American capital markets remain the envy of the world.
· via Twitter
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Very Pro-Crypto

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Patrick McHenry
@PatrickMcHenry
I welcome @SenSchumer’s interest in digital asset legislation to protect consumers and foster innovation. The House has done its work by passing the bipartisan #FIT21 with 2/3rds voting in support back in May. Senate action on digital asset market structure is long overdue.
· via Twitter
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Somewhat Pro-Crypto

Voted for a bill on May 23rd, 2024
Bill Name
CBDC Anti-Surveillance State Act
Details
To amend the Federal Reserve Act to prohibit the Federal Reserve banks from offering certain products or services directly to an individual, to prohibit the use of central bank digital currency for monetary policy, and for other purposes.
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Very Pro-Crypto

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Patrick McHenry
@PatrickMcHenry
It is past time for Congress to provide clear rules of the road for the digital asset ecosystem. The American people deserve legislation to ensure consumer protection and allow innovation to thrive in this country. 📺Watch my remarks in support of the bipartisan #FIT21 Act ⬇️ https://t.co/s386IrCRlI
· via Twitter
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Very Pro-Crypto

Voted for a bill on May 8th, 2024
Bill Name
SAB 121 House Joint Resolution
Details
For congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Securities and Exchange Commission relating to "Staff Accounting Bulletin No. 121". This staff accounting bulletin expresses the views of the staff regarding the accounting for obligations to safeguard crypto-assets an entity holds for platform users.
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Very Pro-Crypto

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Patrick McHenry
@PatrickMcHenry
🚨#ICYMI: @FinancialCmte advanced legislation to prohibit the @federalreserve from issuing a #CBDC without Congressional approval. Read more on our bill, led by @GOPMajorityWhip, to protect our financial system and the privacy of the American people. ⬇️ https://t.co/Aj7Fc14jbS
· via Twitter
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Very Pro-Crypto

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Patrick McHenry
@PatrickMcHenry
As @HesterPeirce said: @GaryGensler's "sweeping 'just about every crypto asset is a security' statements also seem to be part of a broader strategy of wishing complete jurisdiction over crypto into existence." Congress delegates authority to the SEC, not the other way around.
· via Twitter
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Very Pro-Crypto

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Patrick McHenry
@PatrickMcHenry
This provision raises serious due process and transparency concerns. It would also grant Treasury the power to prohibit American’s digital currency payments worldwide & allow the Secretary to ban financial institutions unilaterally & indefinitely from dealing in cryptocurrencies.
· via Twitter
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Very Pro-Crypto

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Patrick McHenry
@PatrickMcHenry
It must be Groundhog Day. Democrats are once again using a massive, partisan legislative package to sneak through destructive digital asset policies. First in the infrastructure Investment and Jobs Act, and now in this so-called China competitiveness bill.
· via Twitter
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Very Pro-Crypto

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Patrick McHenry
@PatrickMcHenry
#ICYMI: On Sunday I joined @FCPwithGreta to discuss the importance of understanding and embracing #crypto and why my bill, the Eliminate Barriers to Innovation Act, will help. Click here to watch ➡️ https://t.co/dzibcATo6U
· via Twitter
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Very Pro-Crypto

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Patrick McHenry
@PatrickMcHenry
Why is Congress using an infrastructure bill to write the rules for new #technology? That’s exactly what Democrats are trying to do. The #crypto tax reporting provision in the Senate-passed bill will have long-lasting and harmful implications for #innovation here in the U.S.
· via Twitter
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Very Pro-Crypto

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Patrick McHenry
@PatrickMcHenry
Given the distinct nature of #digital assets—not all of which are financial products—we need to allow time for thoughtful deliberation to get this right. The bipartisan Toomey-Warner-Lummis-Sinema-Portman compromise amendment would have been a good step in this direction.
· via Twitter
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