Rep. French Hill Possibility for Full Committee Leadership Post McHenry's Departure
Summary:
Arkansas Representative French Hill, who currently chairs the US House Financial Services Subcommittee on Digital Assets, is rumored to be a contender to lead the full committee after Patrick McHenry steps down in January 2025. Hill has been heading the digital assets subcommittee since 2023 and has conducted hearings into cryptocurrency-related issues. His potential leadership depends on GOP's control post the 2024 US elections.
French Hill, the Arkansas Representative who leads the US House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion, is rumored to be in line to head the full committee after Patrick McHenry steps down. On March 17, news outlet Punchbowl News suggested that Hill is among the potential candidates to become the full committee chair by January 2025, coinciding with the conclusion of McHenry's term. McHenry, after two decades in office, announced in December 2023 his decision not to run for re-election. Since January 2023, Hill has been at the helm of the digital assets subcommittee and is the deputy chair of the entire House committee. During their tenure, he and McHenry oversaw hearings into cryptocurrency-related matters, such as terrorist funding and money laundering. Related: US legislators question proposed CFPB rule due to its potential effect on cryptocurrency. The forthcoming leader of the House committee hinges on whether the GOP retains a majority hold in the chamber post the 2024 US elections. The struggle for power for the House of Representatives, Senate, and President lies between the Democratic and Republican lawmakers. In a discussion back in January 2024, Hill aired his hopes that certain cryptocurrency legislations would get the green light from the full committee before 2024 wrapped up. Despite attempts by Cointelegraph to get a comment from Rep. Hill's office, there was no response at the time of going to press. Magazine: Legislators' apprehensions and skepticism fuel proposed US cryptocurrency regulations.
Published At
3/18/2024 10:45:00 PM
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