Market structure bill on agenda in first 100 days — Rep. French Hill

United States representative French Hill recently appeared on CNBC and said that the US desperately needs a crypto market structure bill, which he described as a “top priority” for the Republican Party.

According to Representative Hill, GOP majority leader Steve Scalise aims to introduce a comprehensive crypto market structure bill within the first 100 days of the upcoming legislative session. Hill also criticized the current regulatory approach under Securities and Exchange Commission Chair Gary Gensler:

“We don't have rules of the road. Under Chairman Gensler, we had just regulation by enforcement. This is not helping America succeed, not helping technological advance, innovation for Web3, [or] the use of blockchain both in publicly traded companies and in financial services."
The approval of a market structure bill should help lift the regulatory uncertainty that has hung over the US crypto industry for years. Proponents of such bills say that pro-crypto legislation could pave the way for the US to foster digital asset innovation and prevent crypto firms from offshoring.