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CoinDesk Podcast Network

Patrick McHenry Says Crypto Market Structure Bill Could Pass Before Memorial Day

CoinDesk Podcast Network

CoinDesk

News, Tech News, Daily News, Business News

4.7698 Ratings

🗓️ 9 February 2026

⏱️ 10 minutes

🧾️ Download transcript

Summary

The timeline for crypto clarity with Ondo Finance Vice Chairman and former Chairman of the House Financial Services Committee Patrick McHenry. Ondo Finance Vice Chairman and former Chairman of the House Financial Services Committee, Patrick McHenry joins Jennifer Sanasie and Andy Baehr on CoinDesk Live from the Ondo Summit to discuss the rapid shift in U.S. crypto policy and why he believes long-awaited market structure legislation is closer than many expect.McHenry reflects on how tokenized real-world assets are reshaping global markets, the growing push to harmonize the SEC and CFTC, and why decentralized finance is essential to unlocking crypto’s full potential.He also weighs in on the stablecoin yield debate, ethics concerns, and makes a bold prediction: a market structure bill could reach the president’s desk before Memorial Day. - Timecodes: 01:10 - McHenry’s Role at Ondo and the Shift On-Shore02:21 - The Race for Market Structure Legislation03:42 - McHenry's Thoughts on CFTC/SEC "Harmonization"05:43 - DeFi: The Non-Negotiable Core of Crypto06:53 - Midterms, Ethics, and the Memorial Day Deadline - This episode was hosted by Jennifer Sanasie and Andy Baehr.

Transcript

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0:00.0

You heard from Patrick Witt about the group he brought together on yield.

0:04.3

Crypto came in and said, look, we want to negotiate.

0:07.0

We actually want a reasonable compromise here and a reasonable approach to yield.

0:11.1

And the bank sat there and listened and offered nothing.

0:14.8

Well, that's not going to last long in Washington if the group that is holding it up,

0:20.1

the banking industry, is unwilling to

0:22.8

negotiate on something that has to be resolved to unlock market structure. It will be resolved.

0:28.3

It's going to be rough, a rough going, but it's going to be, the president will have a bill

0:33.4

signing ceremony on market structure, on clarity, before Memorial Day.

0:43.6

Hey, everyone, welcome back to Coin Desk Live.

0:45.5

We are coming to from the Ando Summit in New York City.

0:48.5

I'm Jensenassi here with my co-host, Andy Bear, and we're now joined at the desk by Ondo

0:53.2

Finance's Vice Chairman Patrick McHenry.

0:56.0

Chairman, great to see you again. Hey, great to be back. Yeah, great. So the last time we spoke,

1:00.6

actually, this is a lie, we spoke in between, but we saw you at the Ondo summit last year.

1:04.4

You were just joining. Talk to us about the last year. What have you been up to? Give us the

1:09.6

highlights. Well, the highlights for Ando is that we've taken global markets and we're able to bring

1:15.8

it back to the United States.

1:16.8

That's a substantial change that the Trump administration has opened up for American investors

1:23.3

to have new opportunities.

1:25.5

It also means that the United States is emerging as the crypto capital of the world,

1:29.9

just as the president outlined.

...

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