U.S. House Financial Services Chair to Introduce Crypto Legislation in First 100 Days

Dec 13, 2024, 01:23 PM

The incoming U.S. House Financial Services Chair, French Hill, has outlined his priorities for the new Congress, focusing on easing banking regulations, promoting capital formation for public offerings, and addressing the market structure for cryptocurrencies. Hill emphasized the need for clear regulatory frameworks for digital assets, criticizing the previous approach under SEC Chairman Gensler as 'regulation by enforcement.' He aims to introduce two key pieces of legislation within the first 100 days of the Trump administration: a Market Structure Bill for Digital Assets and a Stablecoin Bill. These initiatives are expected to unlock innovation, facilitate banking relationships, and encourage new capital inflows into the cryptocurrency sector, according to Coinbase CFO Alesia Haas.