The United States is taking huge steps to solidify its position as a global leader in cryptocurrency and blockchain innovation. As per the latest report, Arkansas Congressman French Hill, a strong advocate for cryptocurrency, will lead the House Financial Services Committee. Hill has reportedly pledged to review and investigate claims of debanking within the crypto sector, aiming to address longstanding industry concerns.
🚨NEW: Arkansas Congressman @RepFrenchHill will be the next Chairman of the House Financial Services Committee, taking the place of outgoing chair @PatrickMcHenry who is retiring from Congress.
Rep. Hill is very pro-#crypto and says the next Congress will review and investigate… pic.twitter.com/8npG2XUzzX
— Eleanor Terrett (@EleanorTerrett) December 12, 2024
French Hill and Paul Atkins Expected to Form Crypto-friendly Environment
Previously, Trump nominated Paul Atkins, a known cryptocurrency supporter and former SEC chairman, as the lead of the Securities and Exchange Commission. Trump hailed Atkins for his commitment to “common-sense regulations”.
These efforts show the administration’s goal to create a balanced and forward-looking financial regulatory environment.
While speaking at the New York Stock Exchange, Trump unveiled plans to make the U.S. a global leader in cryptocurrency. He stated that the U.S. is going to do “something great with crypto”.
He proposed initiatives such as a national strategic Bitcoin reserve, which shows his new administration’s intent to stay ahead in the crypto race. Trump’s stance signals a pivotal shift from the current administration’s adversarial stance.
After the Trump’s remarkable victory, Bitcoin remains a focal point of attention, holding steady above the $100,000 milestone reached last week. The market’s stability reflects growing confidence in the U.S.’s supportive approach to digital currencies.
Also Read: Bitwise Predicts Bitcoin Price Will Hit $1 Million by 2029
