OKB (okb) 
French Hill Outlines Crypto Policy Agenda as Next House Financial Services Committee Chair
Representative French Hill, the newly elected chair of the House Financial Services Committee, has outlined his agenda for crypto policy reform under the next U.S. administration. In a recent interview, Hill emphasized the need to address key pain points in the industry, including banking regulation, market structure standardization, and capital formation incentives.
As a pro-crypto Republican, Hill aims to steer the Committee toward creating a more favorable environment for cryptocurrency companies to go public. This approach is in line with the Committee’s previous efforts to address policy ambiguity and introduce clear rules for digital asset regulation.
Regulatory Clarity and Standardization
The Committee, under outgoing chair Representative Patrick McHenry, has been vocal about the need for regulatory clarity. One proposal, the Financial Innovation and Technology for the 21st Century Act (FIT 21), aimed to clarify crypto frameworks and assign oversight to the Commodity Futures Trading Commission. Although the bill has undergone markups and debates, it remains a crucial step toward establishing a clear regulatory framework.
National Strategic Bitcoin Reserve
Another topic of discussion is the creation of a national strategic Bitcoin reserve. While some lawmakers, including President-elect Donald Trump and Senator Cynthia Lummis, have expressed support for the idea, Hill has expressed uncertainty about its feasibility. This stance contrasts with the growing momentum behind the proposal, with states like Texas, Alabama, and Pennsylvania considering similar initiatives.
Key takeaways from Hill’s agenda include:
- Relaxing banking regulations to promote cryptocurrency adoption
- Standardizing crypto market structure to increase transparency and stability
- Improving capital formation incentives to encourage companies to go public
- Addressing policy ambiguity and introducing clear rules for digital asset regulation
“The Committee has a crucial role to play in shaping the future of cryptocurrency regulation in the United States.”
As the cryptocurrency landscape continues to evolve, it is essential to stay informed about the latest developments and trends. For more news and updates on the world of cryptocurrency, visit Global Crypto News.
