• Rep. French Hill (R-Ark) announced that the newly formed U.S. House of Representatives subcommittee on digital assets, financial technology and inclusion will prioritize stablecoin legislation.
• Hill noted that the committee will also pursue a privacy statute federally, which is important to ensure that consumers and businesses can exchange digital assets with confidence.
• He also said that the committee plans to use its stablecoin draft as a model for how it will approach digital asset regulation moving forward.

The U.S. House of Representatives recently established a new subcommittee on digital assets, financial technology and inclusion, under the chairmanship of Rep. French Hill (R-Ark). On Thursday, Hill revealed the priorities of the subcommittee and highlighted the importance of stablecoin legislation in the United States.

Hill noted that stablecoins are a type of digital asset that have the potential to revolutionize the global economy, as they can be used to facilitate transactions quickly and securely. He went on to say that the subcommittee will use its stablecoin draft as a model for how it will approach digital asset regulation moving forward.

In addition to stablecoin legislation, Hill said that the committee will also pursue a privacy statute federally, which is important to ensure that consumers and businesses can exchange digital assets with confidence. He added that the subcommittee will also address the issue of which regulatory body, the SEC or the CFTC, will have explicit oversight on digital assets.

Hill concluded by emphasizing that the subcommittee’s goal is to ensure a secure, transparent and efficient digital asset industry in the United States. He said that the subcommittee will work with the industry to provide clarity on the regulatory framework and develop policies that protect both consumers and businesses.

Overall, Hill’s comments provide a good insight into the priorities of the subcommittee and show that the U.S. government is taking the digital asset industry seriously. It remains to be seen what the subcommittee will achieve in the coming months, but it is clear that the future of digital assets in the United States looks brighter than ever.