WASHINGTON — One of crypto's most powerful allies in Congress is fighting this week to make sure that an industry-backed regulation bill gets tacked on to the must-pass defense funding legislation.
If he is successful, Rep. Patrick McHenry's (R-N.C.) hardball tactics could hand the cryptocurrency industry a big win.
The bill is intended to clarify how crypto is regulated by federal agencies.
But McHenry's bill has never been put to a vote in the full House, let alone in the Senate.
Instead, McHenry, who chairs the Financial Services Committee, is pushing to attach his bill to the massive annual Pentagon funding measure the National Defense Authorization Act.
Persons:
Patrick McHenry, Patrick McHenry's, McHenry
Organizations:
Chamber, WASHINGTON —, Financial Services, Defense, Congressional
Locations:
Washington ,