Congressman French Hill has raised concerns over the U.S. Securities and Exchange Commission (SEC)’s handling of digital asset regulations, criticizing Chairman Gary Gensler’s leadership for creating legal uncertainty and a politicized approach. The lawmaker highlighted his subcommittee’s legislative successes but expressed frustration with the SEC’s broad and unclear regulations, which he argued burden digital asset…
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House Financial Services Subcommittee Chairman French Hill emphasized the need to understand decentralized finance technologies during a hearing. He criticized the Biden administration’s regulatory approach and urged Congress to keep discussions open on supporting defi innovation. Hill noted that current regulatory frameworks were created for a system reliant on centralized intermediaries, not the decentralized, peer-to-peer…
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Leading members of the U.S. House Financial Services Committee, Chairman Patrick McHenry, Subcommittee Chairman French Hill, and Representative Mike Flood, have requested an extension of the public comment period for the CFPB’s proposed rule on digital consumer payment applications. This request centers on the committee’s concerns over the rule’s potential impact on the digital asset…
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Several lawmakers have expressed concerns about the privacy risks of the Federal Reserve issuing a central bank digital currency (CBDC). “Americans have a right to financial privacy,” one congressman said, emphasizing: “We do not need a CBDC that can track your purchases like China does with their digital yuan.” Another noted: “CBDC is to sound…
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US lawmakers from both sides of the aisle introduced a bill this week to block the Federal Reserve from issuing a central bank digital currency. Republican Rep. French Hill of Arkansas and Democratic Rep. Jake Auchincloss of Massachusetts introduced the bill this week, dubbed the Power of the Mint Act. Hill said it was the…
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US Congressman French Hill aims to promote digital assets and blockchain technology in America by creating a favorable regulatory framework. Speaking on CNBC’s Squawk Box on January 26, the chairman of the newly formed congressional subcommittee on digital assets said he plans to advocate a fair regulatory regime in order to make sure “America is…
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