MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

MNI: CANADA Q3 INDUSTRIAL CAPACITY UTILIZATION RATE 79.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

US: Hill's Selection To Chair House Financial Services Cmte Bullish For Crypto

US
USHomepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America

The Republican Steering Committee endorsed Rep French Hill (R-AK) to serve as chair of the House Financial Services Committee. The moderate Congressman was a surprise choice, defeating Rep Andy Barr (R-KY), House Majority Leader Steve Scalise’s (R-LA) preferred option. The GOP conference must ratify the selection, usually considered a formality. 

  • Hill’s likely elevation to the top banking job in the House is another bullish signal for crypto. He sponsored a bill this year to regulate digital assets and has worked closely with outgoing Committee Chair Patrick McHenry (R-NC), “arguably the crypto industry's most important advocate in the U.S. Congress,” according to Coindesk.
  • Cryptoslate reports that Hill’s selection, “highlights the GOP’s commitment to advancing market structure reforms and stablecoin legislation in the next congressional session beginning Jan. 3.”
  • Senator Tim Scott (R-SC), a firm Trump ally, will take the gavel of the Senate Banking Committee. Punchbowl notes, “The last three Republicans to chair [Banking] have been policy-obsessive wonks with firm opinions on financial policy. Scott does not fit that mold… Scott has said he’ll champion significant changes in the federal housing system, expand “opportunity zones,” help the crypto industry and reshape capital formation.”
  • Outgoing Banking Committee Chair, Senator Sherrod Brown (D-OH), said of Scott, “I don’t really have an opinion I want to share,” suggesting there is likely to be little bipartisan collaboration between Scott and incoming ranking Democrat Senator Elizabeth Warren (D-MA) – one of the most progressive Democrats in the Senate.  
240 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The Republican Steering Committee endorsed Rep French Hill (R-AK) to serve as chair of the House Financial Services Committee. The moderate Congressman was a surprise choice, defeating Rep Andy Barr (R-KY), House Majority Leader Steve Scalise’s (R-LA) preferred option. The GOP conference must ratify the selection, usually considered a formality. 

  • Hill’s likely elevation to the top banking job in the House is another bullish signal for crypto. He sponsored a bill this year to regulate digital assets and has worked closely with outgoing Committee Chair Patrick McHenry (R-NC), “arguably the crypto industry's most important advocate in the U.S. Congress,” according to Coindesk.
  • Cryptoslate reports that Hill’s selection, “highlights the GOP’s commitment to advancing market structure reforms and stablecoin legislation in the next congressional session beginning Jan. 3.”
  • Senator Tim Scott (R-SC), a firm Trump ally, will take the gavel of the Senate Banking Committee. Punchbowl notes, “The last three Republicans to chair [Banking] have been policy-obsessive wonks with firm opinions on financial policy. Scott does not fit that mold… Scott has said he’ll champion significant changes in the federal housing system, expand “opportunity zones,” help the crypto industry and reshape capital formation.”
  • Outgoing Banking Committee Chair, Senator Sherrod Brown (D-OH), said of Scott, “I don’t really have an opinion I want to share,” suggesting there is likely to be little bipartisan collaboration between Scott and incoming ranking Democrat Senator Elizabeth Warren (D-MA) – one of the most progressive Democrats in the Senate.