SAB 121 House Joint Resolution
This bill is very pro-crypto.
Patrick McHenry
Republican Political Figure from North Carolina, 10
3 January, 2023 - 3 January, 2025
Strongly supports crypto
Based on 68 statements and 5 votes.
Vote History
Final passage out of House
May 8, 2024
voted for
CBDC Anti-Surveillance State Act
This bill is somewhat pro-crypto.
Final passage out of House
May 23, 2024
voted for
FIT21
This bill is very pro-crypto.
Introduced in House
April 30, 2024
cosponsored
Final passage out of House
May 22, 2024
voted for
Clarity for Payment Stablecoins Act of 2023
This bill is pending analysis.
Introduced in House
July 20, 2023
sponsored
Statements
Patrick McHenry
@PatrickMcHenry
Honored to be at the @WhiteHouse for the signing of the GENIUS Act. Thanks to @RepFrenchHill, @RepBryanSteil, & @SenatorHagerty for their leadership on this important first step to provide regulatory clarity for digital assets in the US. pic.x.com/mMhlmkcw8G
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
Massive, bipartisan vote for the CLARITY Act. We have real momentum behind the effort to build a regulatory framework for digital assets in the US. Thank you to @RepFrenchHill, @RepBryanSteil, @CongressmanGT, & @RepDustyJohnson for their work. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
Big, bipartisan vote for the GENIUS Act. A hugely important step for crypto. Congratulations to @SenatorHagerty, @SenLummis, @gillibrandny, @MarkWarner, & the other bipartisan leaders of this effort. Their work made today’s vote possible. x.com/SenatorHagerty…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
As a policymaker, I focused my work on modernizing financial markets and positioning the US as the global leader in digital asset innovation. I look forward to continuing that work as part of the team at @OndoFinance. x.com/leomschwartz/s…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
It’s only taken 4 days for @realDonaldTrump and his team to undo the damaging policies that targeted #crypto over the last 4 years. Still work to be done but this is a great start.
Credit to Commissioner @HesterPeirce and @USRepMikeFlood for their tireless work to highlight the disaster that was SAB 121.
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
The outgoing Biden Admin continues to ignore the will of Americans with partisan 11th hour rulemakings.
Today, it’s an assault on the digital asset ecosystem.
The bipartisan Keep Innovation in America Act is the solution for a comprehensive tax framework for crypto brokers. x.com/FinancialCmte/…
Very pro-crypto
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.
Very pro-crypto
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.
Very pro-crypto
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.
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
Today, we celebrate the 16th anniversary of the Bitcoin White Paper.
Innovators, entrepreneurs, and developers are building the financial infrastructure of the future.
Their work is bringing Satoshi's vision is closer than ever to reality. pic.x.com/Aks7uoaWh5
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
I look forward to being in Nebraska to address @USRepMikeFlood's Flyover Fintech conference.
Under Republican leadership, @financialcmte has pursued a pro-innovation agenda from digital assets to AI to technology-based avenues to expand access to capital and credit. x.com/USRepMikeFlood…
Very pro-crypto
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.
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
The President’s veto weakens protections for consumers in digital asset markets and upends decades of custody rules.
By rejecting the bipartisan consensus of Congress, the Administration is doubling down on its failed approach.
Senate action on #FIT21 is more urgent than ever. x.com/FinancialCmte/…
Very pro-crypto
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
Watch my remarks in support of the bipartisan #FIT21 Act https://t.co/s386IrCRlIVery pro-crypto
Patrick McHenry
@PatrickMcHenry
We appreciate your support, @mcuban.
Digital asset policy shouldn't be partisan, and I hope today's #FIT21 vote will reflect that. x.com/mcuban/status/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
This week, the House is taking a monumental step towards providing regulatory clarity for the U.S. digital asset ecosystem.
The Financial Innovation and Technology for the 21st Century Act will spur innovation and secure consumer protections for market participants. #FIT21 x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
For too long, the U.S. digital asset ecosystem has been plagued by regulatory uncertainty that stifled innovation and left consumers unprotected.
#FIT21 will cement American leadership of the global financial system and bolster our role as an international hub for innovation. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
#ICYMI: New court filings indicate that @SECGov Chair Gary Gensler knowingly misled Congress when pressed on the classification of #ETH at a @FinancialCmte hearing to conduct oversight of his agency.
Read my full statement 
pic.x.com/8osMpbY6Iu
Read my full statement pic.x.com/8osMpbY6Iu
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
Reports indicate @GaryGensler is moving to unilaterally classify #ETH as a security.
This is contrary to the @CFTC's assessment and the @SECgov's prior actions.
Congress decides the SEC's jurisdiction and budget, Chair Gensler doesn't get to make it up as he goes along. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
Chair Gensler’s enforcement team’s egregious misconduct will have broad implications on SEC authority beyond his crypto crusade.
Gensler requested more funding for enforcement last year, now a judge calls out the SEC’s abusive and deceptive legal practices.
This must end. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
There is bipartisan agreement SAB 121 undermines consumer protection and leaves customers' digital assets vulnerable.
I look forward to getting this measure across the finish line to overturn it.
Thanks to @USRepMikeFlood, @RepWileyNickel, and @SenLummis for your leadership. x.com/USRepMikeFlood…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
#ICYMI This morning, I joined @SquawkCNBC to discuss what’s next for @FinancialCmte, Chair @GaryGensler's failures on crypto, and border funding.
WATCH https://t.co/HVaMZie7UU
WATCH https://t.co/HVaMZie7UU
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
Today’s spot Bitcoin ETF approvals mark a historic milestone for the future of the digital asset ecosystem.
While action to provide clarity and certainty for digital assets remains necessary, the steps taken today are a significant improvement over regulation by enforcement. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
#ICYMI I joined my friend @JasonSaine97th on his show to discuss my retirement, the year in Congress, cryptocurrency legislation, and more.
WATCH
https://t.co/vXxVVLhbqC
WATCH
https://t.co/vXxVVLhbqCVery pro-crypto
Patrick McHenry
@PatrickMcHenry
SEC Chair @GaryGensler’s continued refusal to provide clarity for the digital asset ecosystem is shameful.
If “the law is clear” in support of his position, why does @SECgov keep losing in court? x.com/HesterPeirce/s…
Very pro-crypto
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/Aj7Fc14jbSVery pro-crypto
Patrick McHenry
@PatrickMcHenry
Joining David Coble on @WSICnews at 11:00 AM to discuss my work to combat the #CCP, protect Americans from a #CBDC, and more.
Tune in
1400 AM / 100.7 FM / 105.9 FM
wsicnews.com/vickiesawyer/Very pro-crypto
Patrick McHenry
@PatrickMcHenry
A government issued and controlled Central Bank Digital Currency poses a serious threat to the American people.
A #CCP-style CBDC threatens the privacy and civil liberties of Americans & I am fighting to ensure the Fed does not sidestep Congress to issue a #CBDC. pic.x.com/dZAw0yqrAu
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
SEC Chair @GaryGensler's crusade against the digital asset ecosystem is falling apart under scrutiny from the courts.
This is yet another example of why a comprehensive regulatory framework, like the FIT for the 21st Century Act, must be made law.
coindesk.com/policy/2023/08…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
RT @giancarloMKTS: 3 take-aways: 1) @CFTC continues to bring #crypto into regulatory envelope by existing reg process, not just by enforcem…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
#ICYMI: U.S leadership in stablecoins can cement the Dollar's global reserve currency status.
Our bipartisan Clarity for Payment Stablecoins Act provides the necessary consumer protections to help this technology achieve its full potential.
Read more 
wsj.com/articles/stabl…
wsj.com/articles/stabl…Very pro-crypto
Patrick McHenry
@PatrickMcHenry
RT @FinancialCmte: #BREAKING: Chairman @PatrickMcHenry's Clarity for Payment Stablecoins Act passes the Financial Services Committee with B…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
Americans deserve clarity for payment stablecoins and there has been good faith, bipartisan work to deliver that clarity.
Today, Democrats are obstructing this good work at the behest of the White House.
The American people deserve better. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
The FIT for the 21st Century Act constitutes an unprecedented joint effort to bring clarity to the digital asset ecosystem.
As @FinancialCmte and @HouseAgGOP prepare to consider this measure at our upcoming markups, read the updated text of this historic legislation. x.com/FinancialCmte/…
x.com/FinancialCmte/…Very pro-crypto
Patrick McHenry
@PatrickMcHenry
RT @jp_koning: This is a step forward. Stablecoin credit ratings have debuted via @bluechip_org, with the New York stablecoins (GUSD, BUSD,…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
The FIT for the 21st Century Act would not have been possible without the leadership of @FinancialCmte members.
I applaud @RepFrenchHill, @GOPMajorityWhip, and @WarrenDavidson for their hard work on this unprecedented effort to bring clarity to the digital asset ecosystem. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
If these reports are accurate, @GaryGensler has a lot of explaining to do.
An ETF would provide everyday investors with an SEC-regulated product.
The only reason for Chair Gensler to oppose is if he wants to kill crypto in the U.S. all together.
wsj.com/articles/sec-s…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
I'm glad to see leaders in #NCGA engage seriously with digital asset policy.
As Congress develops clear rules of the road for the digital asset ecosystem, NC must continue leading the way by advancing pro-innovation policies at the state level.
blockworks.co/news/north-car…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
This discussion draft is a critical first step toward much-needed clarity for the digital asset ecosystem.
I encourage the public to provide constructive feedback to help us get this right.
Thanks to @CongressmanGT, @RepFrenchHill, and @RepDustyJohnson for your partnership. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
Recently, I had the pleasure of speaking with @unc_law students. We discussed my work on data privacy, capital formation, & digital assets. Thanks to the students that joined me for this discussion & thank you to Lincoln County constituent, Kendall Williams, for the invitation. pic.x.com/g3e1nn29sb
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
Chair @GaryGensler says existing law provides clarity for which digital assets are securities vs commodities.
Yet, he refuses to publicly say if the second largest digital asset is a security—despite previously calling it a commodity.
How is this clarity?
Watch pic.x.com/QdFWvIuQGv
Watch pic.x.com/QdFWvIuQGv
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
For two years, Democrats gave @GaryGensler a pass for his disastrous agenda. It's time for accountability. From his destructive climate disclosure rule to his regulation by enforcement of digital assets, Chair Gensler’s agenda has weakened capital markets & stifled innovation. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
RT @FinancialCmte: #WATCH: Chairman @PatrickMcHenry demands Chair Gensler share his views on #ETH.
After publicly defining #Bitcoin as a c…
Very pro-crypto
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.
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
Yesterday's @SECgov action on qualified custodians is clearly part of the Biden Administration's attack on the digital asset ecosystem.
Let me be clear: the future of the digital assets is a major political and economic question that must be decided by Congress. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
I’m proud to welcome all of our new and returning members to @FinancialCmte.
From oversight of the Biden Administration, to enhancing capital formation opportunities, to developing clear rules of the road for digital assets—we have a lot of work to do. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
Chair Gensler wants to push the digital asset ecosystem overseas to "protect" American investors.
Instead, Congress must develop a clear, comprehensive regulatory framework in the U.S. to protect Americans AND allow innovation to thrive here at home.
finance.yahoo.com/video/sec-gens…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
#ICYMI: The collapse of FTX makes it abundantly clear we need to establish a legislative framework and provide clarity to the treatment of digital assets. We will be holding bipartisan hearings in the @FinancialCmte so we can get the answers Americans and FTX’s customers deserve. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
When the "cop on the beat" is too busy chasing headlines to do the work of protecting investors—investors get hurt.
This is why @FinancialCmte has urged Chair Gensler to focus on the SEC's core mission, while Congress works to provide clear rules of the road for digital assets. x.com/SquawkCNBC/sta…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
As I said last month, reports are not a substitute for legislative clarity.
It's clear that Congressional action is the only way to end @GaryGensler's regulation by enforcement, and ensure the digital asset ecosystem can thrive here in the U.S. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
RT @FinancialCmte: #NEW: RM @PatrickMcHenry on the Biden Administration's digital assets reports:
"Reports are not a substitute for legisl…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
The @federalreserve can't move forward with a #CBDC without authorizing legislation from Congress.
Before taking action, Congress must work to understand the risks a CBDC could pose to privacy, private sector innovation, and American consumers. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
The regulation by enforcement at @GaryGensler's SEC is stifling American innovation.
If the U.S. wants to lead the deployment of the next generation of internet technology, we must provide clear, thoughtful rules of the road for the digital asset ecosystem. x.com/HesterPeirce/s…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
#ICYMI: @RepHuizenga and I voiced concerns with the potential impact of recent SEC rulemakings on the digital asset ecosystem.
We're demanding @GaryGensler clarify how these proposals would affect #DigitalAssets and give the public more time to weigh in.
cointelegraph.com/news/congressm…
Very pro-crypto
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.
Very pro-crypto
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.
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
#ICYMI: Last week I spoke to @BreitbartNews about the need to stop the efforts of the Biden Administration & progressive Dems against the growth of digital assets, #cryptocurrencies, & #blockchain. We must encourage innovation, not stifle it. breitbart.com/politics/2022/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
It's critical that we carefully evaluate the current regulatory environment for digital assets, like #cryptocurrencies, and work to provide additional clarity for innovators.
These decisions should be made by Congress, not regulators. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
Congress must work to fully understand and embrace these innovative new technologies, like #crypto.
We don’t need knee-jerk reactions by lawmakers to regulate out of fear of the unknown. x.com/FinancialCmte/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
RT @FinancialCmte: #LiveNow: Ranking Member @PatrickMcHenry leads Republicans as the Committee holds a hearing with #crypto CEOs to explore…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
RT @BrianBrooksUS: OCC affirms Brooks-era permissions for banks to handle crypto — sort of theblockcrypto.com/linked/125217/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
I am proud to lead this initiative to ensure a potential U.S. Central Bank Digital Currency promotes essential American values.
Should the U.S. consider adopting a CBDC, it must help maintain our greatest competitive advantage—the dominance of the U.S. financial system. x.com/FinancialCmte/…
Very pro-crypto
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
https://t.co/dzibcATo6UVery pro-crypto
Patrick McHenry
@PatrickMcHenry
The U.S. should be a global leader, not a global follower, when it comes to digital assets.
My bill, which builds on the great work of SEC Commissioner @HesterPeirce, will help provide the necessary legal certainty to digital asset projects when they launch. x.com/FinancialCmte/…
Very pro-crypto
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.
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
You're exactly right Mayor @FrancisSuarez — China's decision to restrict access presents a perfect opportunity for American leadership on #cryptocurrency. x.com/FrancisSuarez/…
Very pro-crypto
Patrick McHenry
@PatrickMcHenry
This is not the end. This is a public negotiation.
If the Senate can’t get it done, we’ll fight it out in the House. #Crypto
Very pro-crypto
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.
Very pro-crypto