The Latest Breaking News from Patrick T McHenry

WASHINGTON — Speaker Kevin McCarthy said he and President Joe Biden on Monday had their best meeting yet on how to lift the statutory debt limit but that “there’s nothing agreed to” in the negotiations.

The White House and congressional leaders are discussing the duration of appropriations caps and a debt limit raise.

House Agriculture and Financial Services Republicans are collaborating in an effort to agree on a legislative framework for cryptocurrencies.

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These Republicans will use their gavels to advance a conservative agenda and ramp up probes of the Biden administration.

John Ray III, who took over FTX after its collapse, tells lawmakers the cryptocurrency exchange was "uniquely positioned to fail."

Sen. Sherrod Brown says a bill supported by Sens. Stabenow and Boozman is too favorable to the crypto industry.

WASHINGTON — Congress opted to tread water on legislation that would clarify the agency in charge of the cryptocurrency industry, leaving lawmakers now without a regulator to blame for missing the signs of the FTX collapse this month and facing deep skepticism about some proposals.

FTX founder Sam Bankman-Fried’s prominence on Capitol Hill is said to have tainted bills deemed too favorable to the cryptocurrency industry.

Democrats said Rep. Patrick T. McHenry, R-N.C., expected Financial Services Committee chair, has sought to find bipartisan consensus.

WASHINGTON — Lawmakers from both parties say the Federal Reserve needs legislative authority to issue a digital dollar, but the two sides have so far been unable to find a balance between privacy and security that could overcome the partisan divide.