Pro-Crypto US Politician Appointed Chairman of House’s Financial Services Committee

The House Financial Services Committee’s new chairman, French Hill, was chosen by Republicans. Hill is an advocate for cryptocurrency and led the FIT21 bill to regulate it.
Chair Patrick McHenry is retiring, and French Hill will take over.
Pro-crypto members of the Republican Party Patrick McHenry, who is retiring, will be replaced on Thursday by French Hill as the chairman of the US House Financial Services Committee.

Under Trump, the Financial Services Committee will be led by French Hill. French Hill was chosen to be the next chairman of the House Financial Services Committee, a crucial role that could assist move legislation pertaining to digital assets forward, the committee announced Thursday. “I am humbled that my colleagues have placed their trust in me to lead the House Financial Services Committee as their next Chairman,” Hill wrote on X.

In Thursday’s vote, Hill defeated fellow Republican Bill Huizenga, Frank Lucas, and Andy Barr. As the new Congress convenes in January, he is anticipated to spearhead efforts on digital assets and banking regulation, succeeding retiring Chair Patrick McHenry. Additionally, he is accused of saying that he intends to look into the industry’s debanking claims in the next Congress.

Since being elected to the House, he has led the committee panel on digital assets and aggressively promoted legislation pertaining to cryptocurrencies, such as one that addresses market structure and another that regulates stablecoins.

The Financial Innovation and Technology for the 21st Century Act (FIT21), which describes the function of regulatory agencies in handling digital assets, was led by Hill. Furthermore, under the incoming presidential administration, French Hill will collaborate with other prominent members of Congress to implement sound financial rules.