Congressman Andy Barr (R-Ky.) aims to succeed Patrick McHenry as the head of the U.S. House Financial Services Committee, which oversees significant financial regulators. He articulated his crypto priorities at the Flyover Fintech conference. With McHenry retiring, Barr and other lawmakers are vying for leadership. He emphasized the importance of stablecoin legislation and addressing the controversial Securities and Exchange Commission's custody rule. Barr aims to promote the Financial Innovation and Technology for the 21st Century Act, signaling that bipartisan support is vital for advancing crypto initiatives. He expressed disappointment over the failure to overturn SEC guidance blocking custody services for Crypto, highlighting a need for regulated banks to engage with the sector. Barr's leadership role will be decided after next month's elections, making his upcoming initiatives crucial for the crypto landscape and financial services in the U.S.

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