The Chairman of the House Financial Services Committee, Patrick McHenry (NC-10), issued the following statement after the House Republican Steering Committee selected Committee Vice Chair and Subcommittee on Digital Assets, Financial Technology and Inclusion Subcommittee Chair French Hill (AR-02) to lead the House Financial Services Committee as its next Chairman.

“Congratulations to my longtime ally and current Committee Vice Chairman French Hill on being selected as the next Chairman of House Financial Services Committee,” said Chairman McHenry. “French’s experience in the private sector, the Treasury Department, and as Vice Chair have prepared him for this role. From stepping in on my behalf multiple times to lead Committee Republicans to spearheading the landmark FIT21, Congressman Hill has proven his capacity to lead this Committee. With French Hill at the helm, Republicans will build on our work from this Congress to finally enact a clear regulatory framework and robust consumer protections for the digital asset ecosystem.

“The quality of candidates in the race to lead this Committee underscores the embarrassment of riches we have on the Committee. I’m certain Congressmen Barr, Huizenga, and Lucas will continue to be valuable leaders for years to come. Chairman-designate Hill is the right person to guide this talented group of lawmakers, and I know the Committee is in good hands.

Source: Financial Services Committee

Congrats @RepFrenchHill! 🔥

This is great for crypto. Chair Hill has done an amazing job leading the House Financial Services Digital Assets Subcommittee over the last two years.

The chances of the 119th Congress passing significant crypto legislation just went up a lot. https://t.co/ixguDzAq6u

— Jake Chervinsky (@jchervinsky) December 12, 2024