French Hill to Lead Financial Services in New Congress

Rep. French Hill (R-Ark.) has been appointed as the new chair of the House Financial Services Committee in the 119th Congress, succeeding Rep. Patrick McHenry (R-N.C.). Hill, a strong advocate for cryptocurrency and blockchain technology, has led legislative efforts to regulate digital assets and is expected to bring a pro-crypto stance to the committee. His leadership will address regulatory challenges such as 'Operation Chokepoint 2.0,' which seeks to limit crypto industry access to banking services. Hill co-authored the Financial Innovation and Technology for the 21st Century Act and plans to prioritize legislation on digital asset market structures and stablecoins. This leadership shift is crucial for the crypto sector, with potential to influence policy development while ensuring proper regulation. Hill's appointment aligns with the incoming Trump administration's interest in advancing digital asset oversight.