According to @CryptoAmerica_, former Financial Services Committee Chair Patrick McHenry announced that additional Democratic members are collaborating on the upcoming crypto market structure bill, with further details expected in the coming weeks (source: @CryptoAmerica_ on Twitter, May 17, 2025). This development signals growing bipartisan momentum for regulatory clarity, which is critical for institutional investors and could reduce market uncertainty, potentially impacting crypto asset volatility and trading volumes.

According to Eleanor Terrett, former North Carolina Congressman and Chair of the Financial Services Committee, Patrick McHenry, is joining Andreessen Horowitz (a16z) as a senior advisor for tech policy. This move could potentially influence regulatory perspectives within the cryptocurrency market, given McHenry's experience in financial services legislation.