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Representative French Hill has been tapped to lead the powerful House Financial Services Committee as its next chairman. As a vocal supporter of digital assets, Hill's new role puts him at the center of the legislative efforts to improve the future of crypto in 2025.
What's the Scoop?
- Hill won the chairmanship after a second-round vote. He is known for his advocacy on crypto issues, including stablecoin regulation and market structure reform.
- The committee, under Hill's leadership, will likely focus on supporting crypto companies' banking access and push back against regulatory efforts like Operation Chokepoint 2.0 that restricted crypto firms and employees from having access to banking services.
Bankless Take:
Under Hill’s leadership, the Financial Services Committee is set to play a pivotal role in providing clearer regulation around the crypto space. His stance on banking access and stablecoin regulation aligns with the growing push for clearer federal oversight in the digital asset space. If Hill’s bipartisan approach works, we may see more proactive crypto legislation, potentially reducing regulatory uncertainty for crypto businesses.
I am humbled that my colleagues have placed their trust in me to lead @FinancialCmte as their next Chairman. It was a privilege to join my exceptional colleagues, @RepAndyBarr, @RepHuizenga, and @RepFrankLucas, in sharing our visions for this committee. https://t.co/7XNgGrLRJy
— French Hill (@RepFrenchHill) December 12, 2024
