Bryan Steil, representing Wisconsin’s 1st district, has been appointed chair of the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence in the US House of Representatives, succeeding Arkansas Representative French Hill. This change was announced on January 9, 2025. Hill stepped back to lead the full House Financial Services Committee after Patrick McHenry's departure. Hill indicated that a key priority for the upcoming committee will be establishing a regulatory framework for digital assets. Steil emphasized the importance of lawmakers creating this regulatory structure during a hearing in September 2024. Although Steil has no reported crypto investments, he received support from the crypto-backed PAC Fairshake for his re-election bid against Democrat Peter Barca. The announcement coincides with Congress's new session, with some reports suggesting a significant number of lawmakers are now supportive of pro-crypto policies. The new committee expectations align with the anticipated digital asset policies from President-elect Donald Trump's administration following his inauguration on January 20, 2025.

Source 🔗