Arkansas Representative French Hill, who currently chairs the United States House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion, has set his sights on becoming the leader of the full committee after Patrick McHenry’s departure. According to a report from Punchbowl News on March 17, Hill is one of the contenders to chair the entire financial services committee starting in January 2025, when McHenry’s term ends. McHenry 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 at the helm of the digital assets subcommittee and also serves as the vice chair of the full House committee. Under their joint leadership, the committee has conducted hearings on various crypto-related issues, including the financing of terrorism and money laundering.
Cointelegraph reached out to Brooke Nethercott, Hill’s communications director, who stated, “Rep. Hill has been discussing the possibility of seeking the House Financial Services chairmanship with his colleagues ever since Chairman McHenry announced he would not be running for reelection. Drawing on these discussions and his extensive four-decade experience in the financial services sector, Rep. Hill has made the decision to pursue the committee chairmanship.”
The leadership of the House committee will ultimately depend on whether Republican lawmakers maintain a majority in the chamber following the 2024 elections in the United States. The control of the House of Representatives, Senate, and the presidency is all up for grabs between Democratic and Republican lawmakers. In a January 2024 interview, Hill expressed hope that certain crypto bills would pass the full committee by the end of the year.
Update (March 18 at 8:44 pm UTC): This article has been updated to include a statement from French Hill’s office.