Financial Services

House bills would revisit regulation of cryptocurrencies
The bill would clarify which virtual currencies qualify as commodities, provide optional regulatory structure

Rep. Darren Soto, D-Fla., participates in a press conference on Thursday, April 26, 2018. (Bill Clark/CQ Roll Call file photo)

House bills with bipartisan support would direct regulators to examine new ways to oversee digital assets and protect them from manipulation, as some lawmakers strive to make financial technologies more mainstream.

One bill would direct the Commodity Futures Trading Commission, consulting with the Securities and Exchange Commission and other agencies, to report to committees including Senate Banking and House Financial Services on how cryptocurrencies are regulated in the U.S. and other countries and detail the benefits of cryptocurrency and blockchain technology.

Treasury official doubts fintech needs payment system overhaul
Analysis appeared in blog

Matt Swinehart, a senior counsel at the Treasury Department, says a massive “regulatory rethink” for financial technology won’t be required. (Bill Clark/CQ Roll Call file photo)

A senior Treasury Department official is challenging the idea that rapidly evolving financial technology will require a sweeping overhaul of rules governing payment services and the electronic transfer of funds between consumers, banks, merchants and others.

In a recent analysis, Matt Swinehart, a senior counsel at Treasury, said a massive “regulatory rethink” of payment services won’t be required because many rules and standards governing payments are what he called technology neutral. The analysis appeared on a blog about the intersection between financial technology and government policy. Swinehart and the Treasury Department declined an interview request about his statements.

Green New Deal: Some Democrats on the fence
Top Democrats who would oversee legislation in the House are reluctant to endorse plan that would remake economy

Democratic Sen. Ed Markey and Rep. Alexandria Ocasio-Cortez have championed the Green New Deal on Capitol Hill. (Bill Clark/CQ Roll Call file photo)

A resolution outlining the goals of the Green New Deal capped off its first week of a somewhat messy rollout with mixed reviews, even from typically Democratic strongholds like labor unions.

In the House, the top two Democrats who would oversee any legislation that comes out of the plan have remained reluctant to fully endorse it, stopping at lauding the goals and the enthusiasm behind them. And Republicans quickly branded the Green New Deal as an extreme, socialist plan with unrealistic proposals to eliminate air travel and cows.

Road ahead: Border security deadline, celebrating The Dean and a new attorney general
Race against the clock to avoid another shutdown begins

House and Senate negotiators will find their road ahead this week dominated by the deadline to fund the federal government. (Bill Clark/CQ Roll Call)

Federal workers and lawmakers are already thinking about Friday, the deadline for a spending deal to avert another partial government shutdown. But there’s plenty of other action expected on Capitol Hill before then.

House and Senate negotiators have been working for more than two weeks on a border security funding deal that would clear the way for a final fiscal 2019 spending package.

GOP Rep. Walter Jones dies at 76
North Carolina Republican congressman’s change of heart against the Iraq War put him at odds with his party

Republican Rep. Walter B. Jones initially voted for, and then opposed, the 2003 Iraq war. (Bill Clark/CQ Roll Call file photo)

Rep. Walter B. Jones Jr., an independent Republican resolute in his commitments to ending U.S. wars and diminishing the role of government, died Sunday, He was 76. 

Jones died in Greenville, N.C., according to a statement from his office. He had been absent from the Capitol with an undisclosed illness since September. He moved into hospice on Jan. 26 after suffering a broken hip.

Border security talks stalled over detentions, second shutdown possible
Acting White House Chief of Staff Mick Mulvaney told ‘Meet the Press,’ ‘you absolutely cannot rule out’ a shutdown.

Sens. Jon Tester, D-Mont., left, and Richard Shelby, R-Ala., attend a Senate Commerce, Science and Transportation Committee hearing in Russell Building on nominations on July 26, 2018. (Tom Williams/CQ Roll Call)

Negotiations on a border security deal have hit a snag in a dispute over immigrant detention policy, Senate Appropriations Chairman Richard C. Shelby said Sunday.

House and Senate conferees were scrambling to reach a deal by Monday that would resolve the impasse over President Donald Trump’s demand for a border wall and avoid another partial government shutdown when current funding runs dry on Feb. 15. But Shelby put the odds of a deal at only “50-50,” citing a partisan rift over Immigration and Customs Enforcement, or ICE.

Border, homeland security deal could come over weekend
Members said they would use the weekend to resolve remaining concerns and aim to have legislative text on Monday

Cuellar wants five border areas off-limits to barrier construction. (Tom Williams/CQ Roll Call file photo)

House and Senate negotiators were planning to work through the weekend to reach a border security deal that would clear the way for a final fiscal 2019 spending package.

A House-Senate conference committee on a Homeland Security bill had been hoping to reach an agreement by Friday. But members said they would probably use the weekend to resolve all remaining concerns, with the goal of producing legislative text on Monday.

The insiders: Roll Call’s people to watch in 2019
Some in Congress and the administration will wield power or influence quietly

Four key Hill players from both parties made Roll Call’s list of people to watch in 2019. (Bill Clark/CQ Roll Call file photo)

The third year of Donald Trump’s presidency promises to be a time like no other in American history. Never before have both the legitimacy and the competency of the president been so vigorously challenged, and the questions will increase exponentially as House Democrats and the special counsel probe deeper.

So it is no surprise that most of Roll Call’s People to Watch in 2019 revolve around the world of Trump.

The lobbyists: Roll Call’s people to watch in 2019
Are they worried the new Congress will make war on K Street? Do they look worried?

Michael Williams, a longtime banking and finance policy lobbyist, aims to bridge the divide between progressives and his clients. (Bill Clark/CQ Roll Call file photo)

President Donald Trump looms large on almost every important issue, but it won’t be all about him for some individuals on Roll Call’s list of People to Watch in 2019. 

The financial sector will be learning to survive a less business-friendly environment in the House, and a longtime Democratic lobbyist is well-positioned to lend a hand.

John D. Dingell, legendary former dean of the House, dies
Michigan Democrat’s 60-year tenure was longest in Congress

Former Rep. John D. Dingell, the longest-serving member of Congress, died Thursday at age 92. The Michigan Democrat is seen here in his office in a 1997 interview. (Douglas Graham/CQ Roll Call file photo)

By DAVID HAWKINGS and NIELS LESNIEWSKI

John D. Dingell, the longest-serving member of Congress in American history and easily the most overpoweringly influential House committee chairman in the final decades of the last century, died Thursday. He was 92 years old.