Bryan Steil Takes the Helm of US House Digital Assets Subcommittee
Wisconsin’s own Bryan Steil has stepped into the role of chair for the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence.
He succeeds Arkansas Representative French Hill, who previously occupied the position.
Goals for the Financial Services Committee
On January 9, Hill shared the news of Steil’s appointment as part of the 119th Congress’s activities.
Hill is preparing to take the lead of the House Financial Services Committee, following Patrick McHenry’s announcement that he will not be running for reelection in 2024.
During his announcement, Hill made it clear that one of the primary goals for the Financial Services Committee in 2025 will be to lay down a solid regulatory framework for digital assets.
At a hearing in September 2024, Steil emphasized the pressing need for U.S. lawmakers to keep pace with the rapid evolution of cryptocurrency regulations.
Political Climate and Cryptocurrency Advocacy
Since making his debut in the House in 2019, Steil has maintained a clean slate when it comes to personal cryptocurrency investments.
However, he has received notable backing from the political action committee Fairshake, which champions cryptocurrency interests and has funneled over $760,000 into his reelection campaign against Democratic challenger Peter Barca.
As Congress reconvened on January 3, both Steil and Hill adjusted to their new roles.
Advocacy groups within the cryptocurrency realm have been closely tracking the affiliations of congressional members, reporting that around 298 individuals across the House and Senate can be considered “pro-crypto.” Many of these lawmakers have benefited from substantial media funding courtesy of various PACs.
With preparation underway for President-elect Donald Trump’s inauguration on January 20, the political landscape is shifting.
Analysts speculate that the new Republican president may issue at least one executive order aimed at digital asset policy right from his first day in office.
Source: Cointelegraph
