U.S. House’s McHenry Says Senate May Be Swayed if Many Democrats Back Crypto Bill

The thing to watch, he suggested, is if a lot of Democrats show up to support the bill.

McHenry, who is set to retire at the end of the year, has made digital assets legislation a top priority for the end of his time on Capitol Hill. To that end, the House has recorded a number of recent cryptocurrency successes, from the passage of several relevant bills through McHenry’s committee to the advancement of a congressional effort to overturn Securities and Exchange Commission (SEC) crypto accounting policies.

But chief among the House’s digital assets endeavors is the Financial Innovation and Technology for the 21st Century Act, or FIT21, which is heading toward a long-awaited vote for final approval in the House of Representatives in the coming days. That’s the most comprehensive U.S. crypto bill to move this far through Congress and, if it’s approved in a bipartisan vote in the House, will represent a high-water mark for the industry’s efforts in Washington.