Arkansas Representative French Hill, who currently chairs the United States House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion, has announced his intention to take over the leadership of the full committee once Patrick McHenry’s term ends. According to a report from Punchbowl News on March 17, Hill is among the contenders to chair the full financial services committee starting in January 2025, as McHenry has decided not to seek reelection after serving for 20 years.
Hill has been in charge of the digital assets subcommittee since its establishment in January 2023 and also holds the position of vice chair of the full House committee. During his tenure, the committee has conducted hearings on various issues related to cryptocurrencies, including topics such as terrorism financing and money laundering.
Brooke Nethercott, Hill’s communications director, confirmed to Cointelegraph that the representative has been discussing the possibility of seeking the House Financial Services chairmanship with his colleagues since McHenry’s announcement. Nethercott stated, “Drawing on these conversations, as well as his extensive four-decade experience in the public and private financial services sector, Rep. Hill has decided to pursue the committee chairmanship.”
The leadership of the House committee will depend on the outcome of the 2024 elections in the United States, as it relies on whether Republican lawmakers maintain a majority in the chamber. The control of the House of Representatives, Senate, and the presidency is currently up for grabs between Democratic and Republican lawmakers. In an interview in January 2024, Hill expressed his hope that certain crypto bills would pass the full committee by the end of the year.
Update (March 18 at 8:44 pm UTC): This article has been updated to include a statement from French Hill’s office.