By Jesse Hamilton. (CoinDesk). December 10, 2024.
Patrick McHenry has spent much of his last two years in Congress on a long-shot quest to get a complex oversight regime for the crypto sector passed into law, and he failed. But failing in Congress isn’t always permanent.
McHenry, the outgoing Republican chairman of the House Financial Services Committee, embarked on an uphill battle in 2022 when he took on the cause of an industry that had just suffered widespread ruin and reputational devastation. He decided that digital assets regulation was a goal worth spending much of his political capital on, fighting a pitched battle across committees, parties and chambers of Congress to finally get his Financial Innovation and Technology for the 21st Century Act (FIT21) onto the floor of the House of Representatives in May of 2024.
Read the full piece here: Coindesk.