Gold 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 the Republican Party's "top priority," and 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 will eliminate the regulatory uncertainty that has overshadowed the U.S. cryptocurrency industry for years, and supportive legislation for cryptocurrency could pave 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. He said, "Under Chairman Gensler's leadership, we have not established traffic rules. We only have enforcement regulation. This does not help the United States succeed, nor does it aid technological advancement, Web3 innovation, or the application of blockchain in public companies and financial services."

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