The Forward Guidance newsletter recently highlighted the upcoming selections for Republican House committee and subcommittee chairs. Among these appointments, Rep. French Hill has been nominated to lead the House Financial Services Committee, while Glenn Thompson is set to continue as the Agriculture Committee chair.
Rep. French Hill, who previously chaired the House Subcommittee on Digital Assets, Financial Technology, and Inclusion, has been a key figure in discussions surrounding cryptocurrency. Under his leadership, the subcommittee expanded its focus to include crypto matters, leading to hearings on DeFi, crypto market structure, and the role of federal agencies. With bipartisan support for his nomination, Hill is expected to continue fostering cooperation on crypto-related policies in the upcoming session.
Glenn Thompson, as the Agriculture Committee chair, plays a crucial role in addressing issues related to commodities and derivatives markets, which are increasingly relevant to the crypto industry. Thompson’s introduction of the Digital Commodity Exchange Act influenced the passage of FIT21, a bill that empowers the CFTC to oversee crypto spot markets. This legislation, developed in consultation with stakeholders and market participants, aims to enhance US leadership in financial and technological innovation.
As these committee nominations await ratification by the House Republican Conference, attention also turns to the Senate, where the confirmation of SEC Commissioner Caroline Crenshaw remains pending. Senate Banking Committee Chair Sherrod Brown has criticized Republican senators for delaying Crenshaw’s confirmation, attributing it to their allegiance to corporate interests. The upcoming week is poised to bring further developments in these ongoing discussions.
Stay tuned for more updates on these crucial appointments and their implications for the crypto industry. To stay informed on the latest developments in crypto policy and regulation, consider subscribing to the Forward Guidance newsletter.