Ex-Congressman Patrick McHenry Says Crypto Industry Blew Its Best Chance to Pass CLARITY Act

Crypto must solidify political influence to avoid regulatory rollback: McHenry

The crypto industry's political engagement is crucial to shaping favorable regulations and ensuring market stability amid legislative uncertainty.

McHenry Says Crypto Industry Missed Its Best Chance to Pass the CLARITY Act

McHenry said he shares part of the blame and discussed shortcomings among lawmakers and industry participants, as well as how the industry should prepare for Democrats to take control of Congress in January.

Update for XRP Holders: The CLARITY Act Isn't Dead, But...

The cryptocurrency industry spent $233 million supporting political candidates and influencing the 2026 midterm elections, but the massive expenditure did not prevent Democrats from sweeping Congress. The outcome raises fresh questions about the industry’s political strategy and what it may need to sacrifice to secure the regulatory framework it has pursued in Washington. Crypto media […]

Ex-Congressman Patrick McHenry Says Crypto Industry Blew Its Best Chance to Pass CLARITY Act

TLDR: Patrick McHenry says crypto groups rejected workable compromises while pursuing perfect legislation. The former chairman admits he shares responsibility for the CLARITY Act’s legislative failure. McHenry says political pressures and Democratic opposition derailed a promising September compromise. Democrats are expected to control Congress in January 2027, creating fresh regulatory challenges. Former House Financial Services [...]