Arkansas Rep. French Hill Elected Chair of House Financial Services Committee, Succeeding McHenry and Boosting Crypto Prospects

Dec 12, 2024, 08:15 PM

Representative French Hill of Arkansas has been selected by the House GOP Steering Committee to serve as the next chair of the House Financial Services Committee, succeeding outgoing chair Patrick McHenry, who is retiring from Congress. Hill secured the position on the second ballot in a four-way race against Reps. Frank Lucas, Bill Huizenga, and Andy Barr, who was seen as a strong contender. Known as a champion for the crypto industry, Hill currently chairs the Subcommittee on Digital Assets, Financial Technology, and Inclusion and is considered very pro-crypto. His appointment is viewed as a significant development for the crypto industry, increasing the likelihood of meaningful crypto legislation in Congress. Hill's leadership and vision have been pivotal in shaping the future of digital assets, financial services, and artificial intelligence. He has built strong bipartisan partnerships on a range of issues, including capital markets.