In a recent interview on the Think Crypto podcast, U.S. Representative French Hill expressed his vision for new leadership at the U.S. Securities and Exchange Commission (SEC) in 2025, emphasizing the importance of innovation in the area of digital assets.
Hill, one long-time defender for cryptocurrencies, also spoke candidly about the possibility of significant regulatory changes, regardless of the outcome of the upcoming presidential election between former President Donald Trump and Vice President Kamala Harris.
FIT 21 Bill’s Prospects Amid Growing Bipartisan Support
During the interviewHill first addressed the possibility of passing the FIT 21 billwhich aims to establish a comprehensive regulatory framework for digital assets in the United States.
While the Republican acknowledged the unpredictability of legislative processes, Hill noted growing bipartisan support among lawmakers, which could foster a more favorable environment for cryptocurrencies.
Hill also highlighted Trump’s advocacy for digital assetshighlighting the former president’s participation in the 2024 National Bitcoin Convention in Nashville.
According to Hill, this commitment stimulated the Harris Campaign to engage more actively with pro-innovation Democrats, potentially paving the way for legislative breakthroughs such as the FIT 21 bill.
If the FIT 21 bill was not passed by the end of this year, Hill remained optimistic that pro-crypto legislation would be reintroduced in early 2025. He expects a significant change to the House, with more than 60 new members expected after the November election, suggesting that the groundwork laid over the past four years by crypto advocates and lawmakers will bear fruit.
Rep. Hill identifies promising pro-crypto candidate for SEC
Hill also discussed the notion of Bitcoin as a US reserve asset, a proposal that Trump and Senator Cynthia Lummis defended to address the national debt, which currently stands at $35 trillion.
Although the representative acknowledged that the viability of this idea remains uncertain, Hill supported Trump’s recommendation that the U.S. Treasury retain its Bitcoin holdings, many of which come from Bitcoin seizures. Silk Road Market.
In response to Trump’s remarks about the possibility cooking Upon returning to the White House, SEC Chairman Gary Gensler, Hill clarified that the SEC operates as an independent agency and that Gensler’s term extends through 2026. However, Hill noted that he It is common for new presidents to call on executive officials to resign.
Hill further criticized Gary Gensler’s performance and leadership over the past few years, particularly regarding his approach to cryptocurrencies. He suggested that a future administration appoint a leader more aligned with pro-innovation policies in 2025.
It is interesting to note that the Republican leader also pointed out that the commissioner Hester Peirceaffectionately known in the industry as “Crypto Mom,” as a strong contender for SEC Chair; Hill noted that she would do a “terrific” job as SEC chair.
Featured image of DALL-E, chart by TradingView.com
