House Republicans will establish a new subcommittee dedicated to cryptocurrency this Congress, a move that puts oversight and legislation around the ailing industry high on the GOP agenda.
, who has long made a priority of financial technology issues, said in an interview Thursday that he plans to create the panel because he believes there is “a big hole in how we structure the committee” as it spends more time grappling with crypto topics.French HillWarren DavidsonMcHenry revealed the move as he announced broader plans for Financial Services subcommittees and their chairs.
: McHenry also named the chairs of his other Financial Services subcommittees, in what amounts to a big shakeup of the leadership structure. They include:“Wagner has not been bashful about her interest in capital formation — and so she’s in the right position to move policy,” McHenry said.“Barr brings rural perspective, but he’s [also] been a serious policymaker since he got here,” McHenry said.
It was unclear before Thursday whether McHenry would honor Republicans’ internal term-limit mandate, and his decision was the subject of intense scrutiny by lobbyists who work with Financial Services.
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