Congressman Hill Aims to Secure US as a Leader in Blockchain3-min read

Sayan Chakraborty

Sayan Chakraborty |  Updated on 06/2/2023

French Hill, the chairman of the Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion, has been actively advocating for the United States to be at the forefront of innovation in the rapidly growing fintech and blockchain industries. In his recent interview with CNBC’s Squawk Box, Hill discussed the subcommittee’s goals and plans for the future of crypto regulations in the country. He emphasized the importance of America remaining a hub for fintech innovation, with blockchain and distributed ledger technology being a major part of the future.

French Hill Blockchain

Hill also touched upon the hot topic of a Bitcoin ETF and expressed that the subcommittee would like to explore this possibility in depth. Other important areas of focus for the subcommittee include federal privacy laws, stablecoin bills, and their impact on the securities market. Hill acknowledged that crypto trading and exchanges need to be overseen, but did not specify which agency should be responsible for this task.

In addition, Hill mentioned that the subcommittee would invite Gary Gensler, the SEC chairman, to Congress to discuss his knowledge and recommendations in the crypto and blockchain arena. Such initiatives from Hill and the subcommittee are expected to bring positive changes towards a clearer regulatory framework for the crypto industry, which has been criticized for its lack of regulation by the SEC. With Hill’s leadership, the subcommittee aims to work towards policies that promote diversity and inclusion in the digital asset ecosystem, making it accessible to a wider audience.