Crypto-focused lawmaker wants to lead House Financial Services Committee in 2025: Report

Arkansas Representative French Hill, who chaired the US House Subcommittee on Digital Assets, Financial Technology and Inclusion, is reportedly planning to take over leadership of the full committee following the departure of Patrick McHenry.

According to a March 17 Punchbowl news report, Hill is among the contenders to chair the full Financial Services Committee from January 2025, when McHenry's term ends. McHenry announced in December 2023 that he would not seek re-election after 20 years in office.

Hill will chair the Digital Assets Subcommittee since its inception in January 2023 and serve as Vice Chair of the Full House Committee. Under his and McHenry's leadership, the committee has held hearings on crypto-related issues, including terrorism and money laundering.

Related: US lawmakers push back on proposed CFPB rule citing impact on crypto

House committee leadership depends on whether Republican lawmakers hold a majority in the House following the 2024 U.S. election. Control of the House of Representatives, the Senate, and the presidency is between Democratic and Republican lawmakers.

In a January 2024 interview, Hill said he hoped certain crypto bills would pass the full committee by the end of the year. Cointelegraph reached out to Rip Hill's office for comment, but did not receive a response by the time of publication.

Magazine: Legislators' fear and skepticism fuel proposed crypto regulations in the US.