Wisconsin Lawmaker Bryan Steil to Lead Subcommittee on Digital Assets French Hill to Serve as Full Committee Leader
Former Subcommittee Chairman on Digital Assets, Financial Technology and Artificial Intelligence French Hill has been tapped to lead the full House Financial Services Committee. He replaces Patrick McHenry who announced he would not seek reelection in 2024. Led by Hill, the committee this year is poised to advance a package of bills centered on a digital asset regulatory framework as a reflection of bipartisan interest in cryptocurrency legislation.
Steil to Lead Subcommittee on Digital Assets
The new chair of the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence is Bryan Steil, who has represented Wisconsin since 2019. Steil has been an outspoken voice in demanding clear and efficient crypto regulations. During a September 2024 congressional hearing, he said it was very important to ensure that the U.S. remains a leader in the emerging digital economy while protecting consumers and maintaining market stability.
Crypto’s Growing Influence in Washington
Steil’s new role reflects the growing prominence of digital assets in U.S. financial policy. Though he does not personally invest in any cryptocurrencies, his 2024 reelection bid was heavily supported by crypto interest groups. Crypto-aligned political action committee Fairshake PAC spent more than $760,000 on media in support of Steil against Democrat Peter Barca. Nearly 300 lawmakers have been identified as pro-crypto, making digital assets a key focus in Washington.
Trump Administration to Set Tone on Digital Assets
The subcommittee’s work comes in concert with the new administration of President-elect Donald Trump, who is also likely to make cryptocurrency regulations one of his first orders of business. Trump will be sworn in on Jan. 20. There are even rumors he might sign an executive order related to digital asset policies on his first day in office. Taken together, Congress and the new administration may now define what the future of crypto regulation will look like-a pivotal moment, not just for the crypto industry but for U.S. financial markets.
