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Congressman Patrick McHenry discusses the repeal bill, SEC's Ethereum ETF decision, and FIT 21 Act. He emphasizes the importance of clear regulations and the need for Congress to support crypto. McHenry shares his personal drive for economic empowerment through crypto and debates on stablecoin legislation and political dynamics in Congress.
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Quick takeaways
- Biden's decision on the SAB 121 repeal bill could determine his crypto stance.
- The Fit 21 Act aims to provide clarity and regulation for digital assets, fostering innovation.
Deep dives
Crypto Legislation Victory in DC
Last week marked a significant win for pro crypto legislation in DC as an obscure accounting rule preventing US companies from storing crypto was repealed, known as the SAB 121 repeal. This repeal is currently awaiting Biden's decision on whether to pass or veto it, a move that could shape his stance as pro or anti crypto. Additionally, the SEC is set to decide on the Ethereum ETF and the US House of Representatives will vote on the Fit 21 Act, a major pro crypto legislation.
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Listen to the best highlights from the podcasts you love and dive into the full episode