Golden Finance reports that the new chairman of the U.S. House Financial Services Committee, French Hill, stated that the United States urgently needs a cryptocurrency market structure bill, which is a 'top priority' for the Republican Party. He plans to introduce a comprehensive cryptocurrency market structure bill within the first 100 days of the upcoming legislative session. The approval of the market structure bill would eliminate the regulatory uncertainty that has loomed over the U.S. cryptocurrency industry for years and support legislation for cryptocurrency, potentially paving the way for the U.S. to promote digital asset innovation and prevent cryptocurrency companies from outsourcing offshore. French Hill also criticized the current regulatory approach under SEC Chairman Gary Gensler, stating, 'Under Chairman Gensler's leadership, we have not established traffic rules. We only have enforcement regulation. This does not help the U.S. succeed, nor does it aid technological advancement, Web3 innovation, or the application of blockchain in public companies and financial services.'
