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Congressman French Hill, newly elected chair of the House Financial Services Committee, is prioritizing comprehensive crypto regulations to eliminate confusion and foster innovation. His agenda includes simplifying oversight, reducing banking restrictions, and encouraging IPOs, while addressing the regulatory gaps in the $1 trillion US crypto market. Hill also expressed caution regarding the concept of a national Bitcoin reserve, highlighting concerns over volatility and federal overreach.
Representative French Hill, the incoming chair of the House Financial Services Committee, aims to relax banking regulations and standardize crypto market structures to encourage IPOs. He emphasized the need for clear digital asset regulations and expressed uncertainty about establishing a national Bitcoin reserve, despite growing support in various states.
Rep. French Hill, a strong advocate for the crypto industry, has been appointed chair of the House Financial Services Committee, succeeding Patrick McHenry. Hill, who has an “A” rating from Stand With Crypto, co-sponsored a resolution aimed at reversing SEC guidance that classifies digital assets as liabilities. He has criticized the FDIC for pressuring banks to cut ties with the crypto sector and plans to collaborate with President-elect Donald Trump to investigate this issue.
Congressman French Hill has been appointed as the next chair of the House Financial Services Committee, succeeding Patrick McHenry. Hill, a proponent of cryptocurrency legislation, aims to clarify regulatory roles between the SEC and CFTC and investigate initiatives targeting the crypto sector. He will officially assume his role on January 3, 2025.
Rep. French Hill, a Republican from Arkansas, is set to chair the House Financial Services Committee, signaling a positive shift for cryptocurrency regulation under President-elect Trump. Hill, known for his proactive stance on digital assets, aims to address banking access issues for the crypto industry and foster bipartisan support for new legislation. His leadership is anticipated to enhance regulatory clarity and support for digital assets in the upcoming Congress.
President-elect Donald Trump is building a crypto-friendly administration with key appointments, including Republican French Hill as chair of the House Financial Services Committee and Brian Quintenz as a leading candidate for CFTC chair. Hill, a moderate from Arkansas, will advance crypto-friendly legislation, while Quintenz, a former CFTC commissioner, aims to bridge digital assets and traditional finance. These moves signal a significant shift in the administration's approach to the digital economy, with other pro-crypto nominees also announced.
Chainlink's price has surged to $29.4, its highest since November 2021, driven by significant whale accumulation and strategic partnerships, including collaborations with Coinbase and Emirates NBD. The coin has maintained a bullish trend, surpassing critical resistance levels, with potential to reach $50 as it secures over $38 billion in total value. In U.S. politics, French Hill has been elected as the next Chair of the House Financial Services Committee, promising to advance cryptocurrency legislation under a pro-crypto administration, signaling a shift in regulatory approaches as key figures in the SEC and CFTC are set to change.
Arkansas Representative French Hill is set to chair the House Financial Services Committee in 2025 after winning a party steering committee decision against Republican challengers. He is expected to take over from Chair Patrick McHenry on January 3, coinciding with the start of the new Congress. Senator Tim Scott is anticipated to lead the banking committee, supporting pro-crypto legislation. House Republicans still need to ratify Hill's selection in a full conference vote.
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