Key Takeaways
- Rep. Hill prioritizes reducing banking overregulation.
- He supports establishing a clear Bitcoin regulatory framework.
- Hill backs legislation for a U.S.-backed stablecoin.
Rep. French Hill assumed the role of House Financial Services Committee chairman on December 13, signaling a pro-Bitcoin stance aimed at reforming banking regulations and fostering innovation in digital assets.
In a CNBC interview, Hill outlined three key objectives: reducing regulatory burdens on banks, encouraging public market growth, and establishing clear digital asset regulations.
Banking reform
Hill criticized overregulation in the banking sector, noting that it disproportionately impacts smaller banks and leads to industry consolidation.
He advocated for tailored regulatory approaches to ensure banks of all sizes remain profitable and competitive.
Public markets
Addressing public markets, Hill highlighted the decline in publicly traded companies, attributing it to high costs and regulatory challenges.
He proposed reforms to simplify the process of going public, aiming to support entrepreneurs and expand investment opportunities.
Digital asset framework
Hill also called for a comprehensive digital asset regulatory framework, emphasizing the need to replace the SEC’s “regulation by enforcement” model.
He supports legislation for a dollar-backed stablecoin, a top priority for House Republicans.
Future outlook
Hill’s leadership, alongside pro-Bitcoin appointments under President-elect Donald Trump, signals a shift toward supportive Bitcoin regulation in 2025.
Hill previously chaired the digital assets subcommittee, championing fintech solutions to bolster small banks’ competitiveness.
