U.S. congressman French Hill is poised to prioritize crypto regulation, specifically the FIT21 Act and stablecoin bill, by next year.
Crypto enthusiasts are optimistic about the nascent asset’s potential under the upcoming administration in the United States. Regulators will have another opportunity to pass regulation for the crypto industry in 2025.
Hill to Prioritize Crypto Regulation Next Year
Interestingly, Rep. French Hill, the representative for Arkansas, has disclosed plans to prioritize crypto legislation, particularly the stablecoin bill and the FIT21 Act, next year.
For context, Hill will lead Congress’ House Financial Service Committee, spearheading the panel’s crypto regulation efforts. He has worked on several bills, including the FIT21 Act and a proposed regulation for stablecoins.
Both bills have been under consideration for several months under the current administration. However, their chances of passage were minimal due to the government’s aggressive stance toward the industry.