House Republicans have appointed Rep. French Hill (R-Ark.) to lead the influential Financial Services Committee, placing a crypto advocate in charge of Wall Street’s congressional oversight body. This position will be vital as legislative efforts for the crypto industry begin next year. Hill secured the chairmanship after a second-round vote, defeating three other pro-crypto contenders.
He currently chairs the committee’s digital asset panel and has supported several crypto bills, including legislation for stablecoin regulation and market structure reform. The committee under Hill will also investigate alleged efforts to restrict crypto companies’ access to banking services. Hill is set to assume the chairmanship when the new congressional session begins on January 3.
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