Crypto Legislation Momentum Builds in Congress Amid Regulatory Push

Former U.S. lawmakers and regulators are sounding the alarm for urgent action on cryptocurrency legislation, framing the current political climate as a pivotal window for establishing clear rules. Patrick McHenry, ex-Republican House member, and Rostin Behnam, former Democratic CFTC chair, agree that fragmented regulatory measures are no substitute for comprehensive lawmaking.

McHenry highlighted key allies in Congress—Senator Tim Scott (R-SC) and Representative French Hill (R-AR)—as critical figures who could shepherd crypto-friendly policies through their respective banking and financial services committees. "This is the industry’s moment to secure durable legal frameworks," he asserted during a Georgetown University panel, dismissing temporary regulatory fixes as inadequate.