House Financial Services Committee Chairman French Hill (AR-02) joined the Crypto in America podcast to provide an update on market structure legislation, the Committee’s payment stablecoin bill, and more.
View the full podcast here.
Key Excerpts:
On what crypto means for the American financial system:
- “[Crypto in America] means the future of payments, it means the future of financial services, and distributed ledger technology in the use of blockchain, in my view, will revolutionize the way we do a lot of peer-to-peer transaction among ourselves, but I think it will also be a new basis for operating systems across many different businesses way outside the lane of just financial services.”
On decentralized finance:
- “I think people will be attracted to the lower cost and the ability to offer products to a wider variety of customers than you can due to the overhead in traditional finance. Right there you get a more inclusive product, you get a lower cost product, and you get a more accurate product. And then for many, some people would deem it a more convenient product.”
On payment stablecoin and digital asset market structure legislation:
- “[Chairman Tim Scott and I] both acknowledge that we want to get both bills through the House and Senate and to the President's desk and we're still having conversations about what the best way to go about that is.”
Next Tuesday, May 6, the House Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence & House Agriculture Subcommittee on Commodity Markets, Digital Assets, and Rural Development will hold a joint hearing entitled “American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century.”
Further Background on the Committee’s work on digital assets:
- On April 9, 2025, the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence held its first digital asset market structure hearing of this Congress.
- On April 4, 2025, Chairman Hill and House Committee on Agriculture Chairman G.T. Thompson (PA-15) published an op-ed in CoinDesk outlining their vision for digital asset market structure legislation.
- On April 2, 2025, the Financial Services Committee successfully reported the Committee’s STABLE Act by a bipartisan vote of 32-17 to the full House of Representatives for consideration.
- On April 1, 2025, the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence Chairman Bryan Steil (WI-01) penned an op-ed outlining the Committee’s STABLE Act.
