Arkansas Representative French Hill, who currently heads the United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion, is reportedly planning to assume leadership of the full committee after Patrick McHenry’s departure. This information was reported by Punchbowl News on March 17. Hill is considered one of the potential candidates to chair the full financial services committee starting in January 2025, when McHenry’s term comes to an end. McHenry had announced in December 2023 that he would not be seeking reelection after serving 20 years in office.
Since its establishment in January 2023, Hill has been the chairman of the digital assets subcommittee and also holds the position of vice chair in the full House committee. Under their leadership, the committee has conducted hearings on various issues related to cryptocurrencies, including the financing of terrorism and money laundering.
The selection of the House committee’s new leader will depend on whether the Republican lawmakers maintain a majority in the chamber after the 2024 elections in the United States. The control of the House of Representatives, Senate, and the Presidency is all up for grabs between the Democratic and Republican lawmakers.
In an interview conducted in January 2024, Hill expressed his hopes that certain cryptocurrency bills would pass through the full committee by the end of the year. Cointelegraph attempted to contact Rep. Hill’s office for comment but did not receive a response at the time of publication.
The proposed crypto regulations in the United States are being driven by lawmakers’ fears and doubts, as stated in a magazine article.