US Lawmaker Hints at Call for 2022 Republican Midterm Votes on Crypto Policies

Rep Patrick McHenry said regulatory clarity for digital assets would be one of his "high priorities" if he became the next chairman of the House Financial Services Committee.
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North Carolina Rep. Patrick McHenry may have used his virtual appearance at a cryptocurrency conference as a platform to call for votes in the U.S. midterm elections in 2022.

In a pre-recorded message for attendees at the Converge22 conference in San Francisco on Sept. 29, McHenry suggested that the goal of a "clear regulatory framework" for digital assets could spur U.S. lawmakers to draft legislation. The Republican lawmaker used terms such as “bipartisan consensus” and support from both major political parties on certain regulatory frameworks related to digital assets and stablecoins before seemingly encouraging crypto users to vote red in the upcoming election.

“To ensure these technologies thrive here in the United States, we need to clarify the regulation of the digital asset ecosystem,” McHenry said. "This will be one of my top priorities if I become chairman of the House Financial Services Committee at the next convention."

Representative Patrick McHenry addresses attendees from Converge22 via recorded message
The current chair of the House Financial Services Committee, Rep. Maxine Waters, was endorsed by the Democratic caucus in 2018 to serve as the committee's leadership after that the party had regained control of the House of Representatives. According to the rules of the House, the majority party recommends a speaker, while the minority party recommends a ranking member.

McHenry seemed to suggest that by voting for Republicans to take control of the House, he would prioritize policies for crypto users. At press time, 221 Representatives in the House caucus with Democrats, while Republicans hold 212 seats. The narrow majority in both the House and Senate has many pundits suggesting Republicans have a chance of toppling both houses in the November 2022 midterm elections.

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Crypto Sep 30, 2022 0 78 Add to Reading List

US Lawmaker Hints at Call for 2022 Republican Midterm Votes on Crypto Policies

Rep Patrick McHenry said regulatory clarity for digital assets would be one of his "high priorities" if he became the next chairman of the House Financial Services Committee.

US lawmaker hints at calling for Republican votes in 2022 midterms over crypto policies

New

North Carolina Rep. Patrick McHenry may have used his virtual appearance at a cryptocurrency conference as a platform to call for votes in the U.S. midterm elections in 2022.

In a pre-recorded message for attendees at the Converge22 conference in San Francisco on Sept. 29, McHenry suggested that the goal of a "clear regulatory framework" for digital assets could spur U.S. lawmakers to draft legislation. The Republican lawmaker used terms such as “bipartisan consensus” and support from both major political parties on certain regulatory frameworks related to digital assets and stablecoins before seemingly encouraging crypto users to vote red in the upcoming election.

“To ensure these technologies thrive here in the United States, we need to clarify the regulation of the digital asset ecosystem,” McHenry said. "This will be one of my top priorities if I become chairman of the House Financial Services Committee at the next convention."

The current chair of the House Financial Services Committee, Rep. Maxine Waters, was endorsed by the Democratic caucus in 2018 to serve as the committee's leadership after that the party had regained control of the House of Representatives. According to the rules of the House, the majority party recommends a speaker, while the minority party recommends a ranking member.

McHenry seemed to suggest that by voting for Republicans to take control of the House, he would prioritize policies for crypto users. At press time, 221 Representatives in the House caucus with Democrats, while Republicans hold 212 seats. The narrow majority in both the House and Senate has many pundits suggesting Republicans have a chance of toppling both houses in the November 2022 midterm elections.

Related: