Latest news with #PatrickMcHenry
Yahoo
30-04-2025
- Business
- Yahoo
Author of Crypto Bills Now Being Rehashed Predicts 'Wicked Hot Summer' in Congress
Two recent shepherds of U.S. crypto oversight — Republican former lawmaker Patrick McHenry and Democrat former Commodity Futures Trading Commission chief Rostin Behnam — shared a view that there's a tremendous amount of work still to do on U.S. crypto legislation but that now is the moment to do it. McHenry, in a discussion hosted by Georgetown University's Psaros Center for Financial Markets and Policy, said that Senator Tim Scott, the South Carolina chairman of the Senate Banking Committee, and Representative French Hill, the Arkansas Republican who leads the House Financial Services Committee, present the industry an ideal opportunity to establish sound law. "And I think you should take it," he said, arguing that solid law will act as a better future defense than regulatory stopgaps that aren't associated with congressional action. "Let's ward against bad regulators taking these seats that could try to kill digital innovation." Last year, McHenry backed the Financial Innovation and Technology for the 21st Century Act (FIT21), which has become the foundation for this year's congressional effort on crypto's market structure. The former lawmaker, who now advises industry investor a16z, predicted a "wicked hot summer for legislating." McHenry also had a direct hand in last year's stablecoin legislation that's returned with new versions in the House and Senate. Though they're mostly aligned with each other, he said a "major brewing battle" is shaping up between U.S. stablecoin issuer Circle (USDC) and the global leader, Tether (USDT), over how non-U.S. issuers would be handled. Both want to be in business after Congress passes a law, McHenry said, "and they're both working actively on Capitol Hill to make their point of view heard." He said he expects a "reasonable landing spot" will be found in a U.S. regime for Tether that allows it to deal with U.S. investors. "You shouldn't blow up an international product that desires to be dollar-denominated; I don't think that's a rational outcome," he argued, though the matter may take more months of negotiating among lawmakers. The debates over the meat of highly technical policies will eventually transition from "science to art" as lawmakers do what they can to convert ideas into law, McHenry said. Meanwhile, the industry keeps going, largely unregulated at the federal level. As Behnam noted: "You can't stop the industry from doing what it's doing, whether it's trading the tokens or developing protocols and whatnot, and that's been going on for years." He was never able to get on the same page with former Securities and Exchange Commission Chair Gary Gensler to initiate crypto policies, and he offered a reality check for those now waiting for laws from a cooperative Congress: They'll also have to be implemented by the regulators. "It's going to take a while," he said, starting with the market structure legislation that may still be several months away. "But then it kicks over to the harder part, where you're going to have the market regulators and the bank regulators writing rules, which often can take over a year, even at the quickest clip."Sign in to access your portfolio
Bloomberg
28-04-2025
- Business
- Bloomberg
McHenry: May is Key Month on Taxes
Patrick McHenry, Former US Representative (R) North Carolina, shares his thoughts on if House Republican's goal of getting a tax bill done by Memorial Day is possible and states "the month of May will dictate the health of the whole summer," detailing plans of how House congressional members can try to make this goal possible. He also talks about the debt limit, tax cuts, and if President Trump's tariff policies will help the American people. Patrick McHenry speaks with Kailey Leinz and Joe Mathieu on the late edition of Bloomberg's "Balance of Power." (Source: Bloomberg)
Associated Press
18-04-2025
- Business
- Associated Press
Former U.S. Congressman and House Financial Services Chair Patrick McHenry Joins Lazard as Senior Advisor
NEW YORK--(BUSINESS WIRE)--Apr 18, 2025-- Lazard, Inc. (NYSE: LAZ), the preeminent global financial advisory and asset management firm, announced today that Patrick McHenry has joined as Senior Advisor, effective April 23, 2025. McHenry brings over 20 years of experience as an elected official and leading voice on U.S. economic and financial policy. His appointment underscores Lazard's commitment to expanding its capacity to help clients navigate the increasingly complex intersection of business, politics, and global markets. 'In today's evolving landscape, geopolitical dynamics and their broader implications undeniably factor into business decision-making,' said Peter Orszag, CEO and Chairman of Lazard. 'Patrick's deep policy expertise and distinguished tenure in Washington will be invaluable to our clients, and we are excited to welcome Patrick to Lazard as one of our world-class Senior Advisors.' 'It is an honor to join a firm as well respected and prestigious as Lazard. Their reputation for delivering prescient insights with global perspective is unparalleled,' said Patrick McHenry, former U.S. Congressman. 'I look forward to helping advise clients and to supporting the firm's long-term goals.' Based in Washington, D.C., Mr. McHenry advises on public policy, financial services, FinTech, and AI-related matters. He served for twenty years across ten terms in the United States Congress as the representative for North Carolina's 10th Congressional District. In the 118th Congress, Mr. McHenry was elected as the Chairman of the House Financial Services Committee, a committee he has served on since he was elected to Congress. His previous Congressional roles include Chief Deputy Whip of the House of Representatives and Chairman of the House Financial Services Committee's Oversight and Investigations Subcommittee. In 2023, he also served as Speaker pro tempore of the House of Representatives. Mr. McHenry holds a bachelor's degree in history from Belmont Abbey College and currently serves as a Distinguished Fellow at the Psaros Center for Financial Markets and Policy at Georgetown University's McDonough School of Business. About Lazard Founded in 1848, Lazard is the preeminent financial advisory and asset management firm, with operations in North and South America, Europe, the Middle East, Asia, and Australia. Lazard provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, as well as asset management and investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals. For more information, please visit and follow Lazard on LinkedIn. LAZ-CPE View source version on CONTACT: Media RelationsShannon Houston, +1 212-632-6880 [email protected] Francisco, +1 212-632-6571 [email protected] RelationsAlexandra Deignan, +1 212-632-6886 [email protected] KEYWORD: UNITED STATES NORTH AMERICA NEW YORK INDUSTRY KEYWORD: CONSULTING ASSET MANAGEMENT PROFESSIONAL SERVICES FINANCE SOURCE: Lazard, Inc. Copyright Business Wire 2025. PUB: 04/18/2025 08:30 AM/DISC: 04/18/2025 08:32 AM
Wall Street Journal
18-04-2025
- Business
- Wall Street Journal
Lazard Hires Former Chair of Powerful House Financial Services Committee
Wall Street investment bank Lazard LAZ 1.92%increase; green up pointing triangle is bulking up its political expertise with the hiring of Patrick McHenry, the former Republican congressman from North Carolina and ex-chair of the House Financial Services Committee. McHenry is expected to start work as a senior adviser at Lazard next week and help the firm and its corporate clients navigate the rapidly changing political and regulatory landscape under the Trump administration, executives told The Wall Street Journal.
Yahoo
13-04-2025
- Business
- Yahoo
Market Reaction to Tariffs Was Obvious: McHenry
Patrick McHenry, Former Representative (R) North Carolina, discusses the rollercoaster journey that was this week: markets anticipating President Trump's reciprocal tariffs going into effect, the President implementing a 90-day pause of reciprocal tariffs for countries who haven't retaliated, to the US stock market's volatility towards the end of the week. He also talks about if the uncertainty around tariffs will negatively impact Republican's chances of maintaining a majority in the 2026 midterm elections. Patrick McHenry speaks with Kailey Leinz on the late edition of Bloomberg's "Balance of Power." Sign in to access your portfolio
