Congress

Capitol agenda: A crypto titan flexes in the Senate

Published

8 months ago

January 15, 2026

Tim Scott is facing a crypto calamity.

Landmark digital asset legislation that the Senate Banking chair hoped to advance out of committee Thursday is in extreme jeopardy after one of the industry’s most influential executives announced his opposition Wednesday, setting off a scramble in the Senate and the White House to rescue the bill.

Scott has now postponed the markup, and it’s unclear where he goes from here.

The last-minute backlash is crypto’s biggest flex yet on Capitol Hill, after the industry’s largest players doled out more than $100 million on races across the country to ensure their allies controlled the 119th Congress.

Scott is facing opposition from Coinbase CEO Brian Armstrong, founder of the largest U.S.-based crypto exchange. Coinbase has one of the most aggressive lobbying and legal operations in the realm of crypto policy, and it has pumped tens of millions of dollars into a pro-crypto super PAC network.

The bill at issue is on its face the kind of thing crypto companies have been working toward for years — a sweeping rewrite of Wall Street regulations to accommodate the trading of crypto tokens. It’s also a top financial policy priority for the Trump administration.

But the legislation isn’t accommodating enough for Coinbase, which had been generally supportive of Scott’s approach until he revealed a new version of the bill this week.

“Evidently, the industry writes the bill and if anybody in Congress has the nerve to slightly amend it, the industry says that the whole thing is off and they have canceled the law,” Massachusetts Sen. Elizabeth Warren, the top Democrat on Senate Banking and an opponent of the bill, told Blue Light News. “These are folks who think that when they’ve bought themselves a Congress, then they expect it to behave the way they say.”

Armstrong is balking at what he calls the bill’s “erosion” of authority at the Commodity Futures Trading Commission — a regulator the industry has long preferred over the Securities and Exchange Commission. He’s also concerned about the potential for amendments that would crack down on “rewards” from stablecoins — a flashpoint between crypto firms and traditional banks, which see them as threats to old-school savings accounts.

“We’d rather have no bill than a bad bill,” Armstrong wrote on X — a statement that was also at odds with other big players in the crypto world, who say the bill is flawed but still worth advancing.

Before Armstrong’s surprise rebellion, Scott told Blue Light News that he was fully committed to holding the markup, despite looming opposition from key crypto-friendly Democrats and further complications from Republican allies of the banking industry.

“I am hopeful that it will be a bipartisan victory,” Scott said Wednesday around noon. “But at the end of the day, it’s time for us to come and say where we are on the underlying issues.”

But for some Republicans, the outcome was obvious after Armstrong’s power play.

“I think there’s a deal to be had,” Sen. Thom Tillis (R-N.C.) said. “But [Armstrong’s] probably made the right assessment in terms of us being ready for the markup.”

What else we’re watching:

— Approps progress: Senators expect to pass the three-bill appropriations minibus Thursday, and some are confident that another funding package could be released this weekend covering Defense, Transportation-HUD and Labor-HHS-Education. Senate Majority Leader John Thune told Blue Light News that senators are keeping their options open for how to process the six remaining funding bills once they return from next week’s recess.

— What’s next on war powers: Sen. Tim Kaine (D-Va.) says Democrats plan to force votes on military action in Greenland, Iran, Colombia, Mexico, Nicaragua and Cuba, after Republicans derailed the Venezuela war powers measure Wednesday. “You make them have to work their ass off to keep their people in the corral,” Kaine told reporters.

Meredith Lee Hill, Jordain Carney and Calen Razor contributed to this report.

Congress

Softball game is a go

Published

35 minutes ago

September 3, 2026

Blue Light Newsroom

Speaker Mike Johnson’s decision to cut the House schedule short won’t affect one late-September congressional spectacle: Multiple members said Thursday that the Congressional Women’s Softball Game will proceed as planned on Sept. 23.

The event, which pits a team of women members against an all-media team, is a fundraiser for the benefit Young Survival Coalition, a group supporting young women diagnosed with breast cancer.

“It’s the only day we can play,” said Rep. Debbie Wasserman Schultz (D-Fla.), a captain of the member team. “We’re playing in Audi Field, and yeah, members are coming back.”

Congress

Leon Black defies House Oversight Committee, sues Congress amid Epstein investigation

Published

50 minutes ago

September 3, 2026

Blue Light Newsroom

Leon Black, a billionaire investor with ties to the late convicted sex trafficker Jeffrey Epstein, declined to show up for his scheduled transcribed interview Thursday with the House Oversight and Government Reform Committee — choosing instead to file a lawsuit calling the panel’s subpoenas for his participation “invalid.”

The lawsuit, filed in the U.S. District Court for the District of Columbia, argues that the subpoenas served to Black compelling his testimony and demanding he turn over certain non-disclosure agreements go beyond the committee’s “delegated authority in seeking private information that bears no legitimate connection to [the committee’s] legislative purpose.”

Black’s escalation is likely to trigger a corresponding dramatic response from the Oversight Committee, where Republicans are still endeavoring to show they are taking their Epstein investigation seriously more than a year since its launch.

House Oversight Chair James Comer (R-Ky.) said that Black’s deposition will move forward with an empty chair this morning and that he will talk to his members about next steps.

“It’s a shame Leon Black is hiding behind litigation rather than provide answers to the American people,” Comer said in a statement. “Our investigation is examining how the federal government for decades failed survivors of Jeffery Epstein and [co-conspirator] Ghislaine Maxwell’s crimes and how Mr. Epstein sought to curry favor with influential individuals to avoid scrutiny. Mr. Black’s testimony is crucial to our investigation as he was one of Mr. Epstein’s fee paying clients and has several nondisclosure agreements.”

Democrats are also eager to send a strong message that those who defy the panel now won’t be spared if the party retakes control of the House in 2027.

“By refusing to testify today, Leon Black is now defying two Congressional subpoenas. Black gave Jeffrey Epstein over $180 million over six years. He funded Epstein’s abuse and trafficking of women. Multiple women have also accused Black of sexual assault,” said Rep. Robert Garcia of California, the Oversight Committee’s top Democrat who is poised to take the gavel if Republicans lose their majority in the midterms.

“His connections to Epstein and his unwillingness to cooperate are unacceptable,” Garcia continued. “We must hold him in contempt immediately.”

Black, who founded Apollo Global Management, appeared in a closed door session with the Oversight Committee earlier this summer to discuss his association with Epstein. As a result of that meeting, Black was slapped with a subpoena to produce certain non-disclosure agreements he signed with women tied to Epstein and told to come back for a second grilling.

The panel has been counting on the NDAs to shed further light on how Epstein and his network were able to sexually exploit women and girls and evade liability for decades.

Black has since produced one NDA between himself and a woman with whom he had an affair and to whom he paid $9.5 million. Comer called that insufficient, demanding Black turn over the others and threatening to pursue contempt proceedings if Black did not cooperate.

Black’s attorneys contend the subpoenas “would … expose women who value their privacy, who have no known or public connection to Epstein, who bargained for confidentiality and have refused to release it, and who have no ability to protect themselves and their privacy before the Committee.”

Susan Estrich, one of Black’s lawyers, in a statement accused the Oversight Committee of going on “a fishing expedition that oversteps its authority and completely ignores its responsibility. This is no longer about finding the truth about Epstein. It is about trying to destroy Mr. Black. We were left with no choice but to file this lawsuit in response to an abuse of Congressional power.”

Estrich added that Black continues to deny his knowledge of Epstein’s misconduct and “feels terrible for Epstein’s victims.”

Congress

House Republicans set to cut pre-election session short

Published

1 hour ago

September 3, 2026

Blue Light Newsroom

Republican leaders are set to announce Thursday that the final two weeks of the pre-election House session are canceled, according to two people granted anonymity to describe the decision ahead of a public announcement.

That means members are set to depart Washington no later than Sept. 17 and not return until mid-November. The House will recovene for one additional week of business after next week’s Labor Day break.

Leaders would recall the House for those canceled weeks if the Senate moves forward with a party-line budget reconciliation package in the meantime, the people said.

The decision comes as candidates agitate to get back on the campaign trail and as GOP leaders continue to struggle to maintain control of the House floor. Earlier this week, a procedural measure setting up votes on several Republican bills was poised to fail until two Democrats voted in favor, rescuing Speaker Mike Johnson’s agenda for the week.