Former Chairman of the House Financial Services Committee, Patrick McHeenry has joined three crypto-centered companies, as they are pilling their pivot from policy-making.
East-Republican Congressmen were hired out Ondo Finance has to transfer more real world assets to the blockchain network as the vice -president of the advisory board of Finance.
Ondo Finance is an on-chain protocol that uses cryptographic techniques to enable trading to real-world assets such as American Treasury at decentralized locations such as atherium. According to Difilama, Ondo has a token property of about $ 1 billion.
Private sector caught Pro-Crypto Patrick McHeenry
Crypto companies are bringing former policy makers as they prepare for regulatory changes in Washington.
In less than two months in the administration of President Donald Trump, the US Securities and Exchange Commission changed its approach to Crypto’s cases, and a Senate Banking Subcommittee highlighted Stabilcoin as a major area for regulation.
The agency demolished several enforcement operations against companies such as Coinbase, while the Senate sub-committee, led by Crypto-friendly syntia Lummis, pushed to the bipoal stabelcoin bill.
So far, the message is clear – Trump’s administration has planned to introduce new Crypto rules to support the industry and encourage widespread participation. In response, the firms have moved to policy giants to help bring themselves into a position for this change.
McHenry spent 20 years in the Congress and led a major committee, focused on the Digital Assets Act. During his tenure, he was former SEC President Gary Gansler and an outspoken critic of the agency’s aggressive regulatory approach.
Despite the challenging policy scenario under the previous administration, McHanery worked on a stabechoin structure with House Democrat Representative Maxin Waters.
His retirement from the Congress started officially in January, but he quickly infected in the private sector. So far, McHeenry Payment Processor Strip, Venture Capital firm Andresen Horovitz and Ondo Finance have joined.
