HFS Chair Urges Action on Digital Asset Market Structure Legislation

House Financial Services Committee Chair French Hill urged Congress to pass digital asset market structure legislation to maintain U.S. competitiveness in global digital asset markets

In an op-ed published by CoinDesk, Chair Hill said the U.S. must enact comprehensive digital asset market structure legislation to secure its position as a global leader. He argued that while the GENIUS Act and House passage of the CLARITY Act marked progress, the U.S. still lacks a complete framework that balances innovation with investor protection. He warned that failure to act risks ceding ground to Latin America’s fast-growing adoption and Europe’s harmonized oversight under the MiCA regime.

Mr. Hill highlighted how Latin America has embraced digital assets for payments, remittances, and savings, while Europe has moved ahead with a comprehensive regulatory structure. He stressed that U.S. rules must avoid crowding out smaller innovators, ensure consistent supervision, and provide clarity for firms already building in the market. He concluded that "the time is now" for Congress to deliver legislation that will solidify America as the center of digital asset markets.