Arkansas Representative French Hill, who currently heads the United States House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion, is reportedly set to assume leadership of the entire committee after Patrick McHenry’s departure. As per a report by Punchbowl News on March 17, Hill is among the contenders to chair the full financial services committee starting January 2025, when McHenry’s term will conclude. McHenry had announced in December 2023 that he had no intentions of seeking re-election after serving in office for 20 years.
Hill has been in charge of the digital assets subcommittee since its establishment in January 2023 and also holds the position of vice chair of the full House committee. Under their guidance, the committee has conducted hearings on various crypto-related matters, including the financing of terrorism and money laundering.
The leadership of the House committee will rely on whether 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 Democratic and Republican lawmakers.
During a January 2024 interview, Hill expressed his hopes that certain crypto bills would successfully pass the full committee by the end of the year. Cointelegraph reached out to Rep. Hill’s office for a comment, but no response was received at the time of publication.
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