This report analyzes how Chair McHenry’s retirement may affect prospects for digital asset legislation he has championed and the future of the House Financial Services Committee. While legislation will face challenges from crypto-skeptic Senators and election year politics, urgency created by his retirement and some help from the courts could work in his favor. Even if market structure and stablecoin legislation don’t make it across the finish line this year, Chairman McHenry’s efforts to craft the proposals with bipartisan support will help ensure they serve as the foundation for future proposals next Congress.
