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French Hill’s Bid for House Financial Services Committee Chairmanship
Representative French Hill of Arkansas, currently chairing the United States House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion, is aiming to lead the full committee following Patrick McHenry’s departure.
Hill’s Leadership Journey
- Hill has chaired the digital assets subcommittee since its establishment in January 2023.
- He also holds the position of vice chair on the full House committee.
- Under his joint leadership with McHenry, the committee has addressed cryptocurrency-related issues like terrorism financing and money laundering.
Brooke Nethercott, Hill’s communications director, confirmed his decision to seek the committee chairmanship based on his extensive experience in financial services.
House Committee Leadership Outlook
The outcome will hinge on maintaining a Republican majority after the 2024 elections, with control of the House, Senate, and presidency in contention between Democratic and Republican lawmakers.
Crypto PAC’s Influence on Senate Races
A PAC named Fairshake, supported by cryptocurrency industry figures, is targeting key Senate races to potentially influence Congress’s power balance.
Fairshake’s Objectives
- Recently spent over $10 million opposing a Democratic U.S. Senate candidate in California.
- Aims to elect candidates who advocate for necessary cryptocurrency industry regulations.
Reports indicate that US voters prioritize candidates’ understanding of innovative technologies like AI and cryptocurrency, with California crypto holders expected to impact the 2024 elections significantly.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
