Ripple's Chief Legal Officer and other industry professionals support French Hill as the new chairman of the U.S. House Financial Services Committee

Previously, cryptocurrency supporter and U.S. Representative from Arkansas, French Hill, defeated three other competitors to win the position of Chairman of the Financial Services Committee.

Hill currently serves as Vice Chairman of the committee and is in charge of its Digital Assets, Financial Technology and Inclusion Subcommittee. He emphasized that he is very grateful for the opportunity to serve as chairman of this committee.

The outgoing chairman Patrick McHenry praised Hill's leadership skills, especially his expertise in financial technology and innovation. McHenry said: "French's experience in the private sector, Treasury Department and serving as vice-chairman has prepared him well for this role." He stressed: "Under French Hill's leadership, Republicans will ultimately establish a clear regulatory framework for digital asset ecosystems based on strong consumer protection measures during this Congress." McHenry also highlighted Hill’s contributions to promoting key legislation including FIT21 (Financial Innovation Technology Act). 

Hill’s appointment won support from leaders in crypto industry and lawmakers. Former Acting Comptroller of Currency Brian Brooks who was also former Chief Legal Officer at Coinbase praised Hill’s “intelligence, growth mindset and innovative vision.”