U.S. Regulation

Pro-Crypto Congressman French Hill to Lead Powerful House Financial Services Committee Panel Next Term

Congressman French Hill will be the next chair of the powerful House Financial Services Committee, Punchbowl News reported Thursday. The Arkansas Republican was named to the role Thursday by the party’s Steering Committee, which named the leaders of the various committees ahead of the 119th Congress’s start next year.

Hill will succeed North Carolina’s Patrick McHenry, who will retire after 20 years in Congress and multiple terms leading Republicans on the Financial Services Committee. Hill has chaired the Digital Assets, Financial Technology and Inclusion subcommittee over the past few years and cosponsored the Financial Innovation and Technology for the 21st Century Act (FIT21), a market structure bill that much of the cryptocy industry hoped would become law. He’s also introduced or cosponsored a number of other bills over the years addressing various aspects of the crypto world.

McHenry shepherded multiple pieces of crypto legislation through the House of Representatives, including FIT21. Over the past few years, he also worked on stablecoin legislation with his counterpart, California Representative Maxine Waters, though this bill was not ultimately introduced.

Waters will again lead Democrats on the House committee after being “unanimously” picked by the caucus, a Wednesday press statement said. In the statement, Waters said she was “honored that the Democratic caucus has once again put their faith in me.”

“I will continue the fight to improve conditions for working families across the country,” she said. “Under my leadership over the past few years, we’ve achieved historic progress to expand housing and address homelessness, support small businesses, and protect people from fraud. But our work is far from finished.”

Waters said Democrats on the committee would fight any efforts by incoming U.S. President Donald Trump to “raise costs for working families and eliminate hard fought consumer protections.”

Terron Gold

Recent Posts

U.S. Banking Industry Accuses OCC of Undermining Congress Over New Stablecoin Rewards Rules

The American Bankers Association (ABA) has sharply criticized the Office of the Comptroller of the…

4 days ago

Trump and World Liberty Financial Sued Over $2.5 Billion in UAE-Linked Crypto Deals

President Donald Trump and his family's cryptocy company, World Liberty Financial (WLFI), are facing a…

4 days ago

Aerodrome and Velodrome Merge Into Aero to Launch Decentralized Exchange Across Seven Blockchains

Aerodrome Finance and Velodrome, two of the leading decentralized exchanges (DEXs) on Base and Optimism,…

4 days ago

OpenAI’s GPT-5.6 Discovers Critical PHP Security Flaws as Governments Shut Down Websites Across Europe

OpenAI's artificial intelligence models helped uncover two critical security vulnerabilities in PHP, the programming language…

5 days ago

SoFi Launches First FDIC-Insured Tokenized Deposit for Consumers Offering 4.40% Interest

SoFi Technologies has launched SoFi Earn (SOFIE), a new blockchain-based banking product that allows consumers…

5 days ago

Microsoft, Google and Goldman Sachs Push Back Against 24/7 Tokenized Stock Trading

Microsoft, Google's parent company Alphabet and Goldman Sachs have joined a growing list of major…

6 days ago