French Hill outlines crypto policy priorities as new House committee chair

Representative French Hill, who was recently elected as the chair of the House Financial Services Committee, plans to prioritize flexible regulations for the crypto market and initial public offerings (IPOs) in the upcoming U.S. administration.

Hill aims to relax banking regulations, standardize the crypto market structure, and enhance capital formation to encourage more companies to go public.

The Committee, under the leadership of outgoing chair Patrick McHenry, has been actively advocating for clearer regulations on digital assets to eliminate policy ambiguity.

They have advanced the Financial Innovation and Technology for the 21st Century Act (FIT 21), which aims to clarify crypto frameworks and delegate most digital asset oversight to the Commodity Futures Trading Commission.

This bill has received bipartisan support but is still being debated in the Senate.

Hill also addressed the growing interest in establishing a national Bitcoin reserve, with proposals emerging from various states such as Texas, Alabama, and Pennsylvania.

However, Hill expressed uncertainty about whether the U.S. should pursue this initiative, which contrasts with the commitments made by President-elect Donald Trump and Wyoming Senator Cynthia Lummis regarding Bitcoin legislation.

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