• Bill Huizenga is the new Committee Vice Chairman
• This could shake up the crypto world (and the financial world in general)
• Elected are pro-crypto

French Hill, chairman of the U.S. House Committee on Financial Services has announced new key leadership appointments across various roles within the committee.

The new Committee Vice Chairman is Bill Huizenga (Michigan 4th district), the Committee Whip is Mike Haridopolos (Florida 8th district), and the new committee Vice Chair of Communications is Mike Lawler (New York 17th district).

There have been substantial changes in the subcommittee chairs as well.

Ann Wagner (Missouri 2nd district) is the new Chair of the Subcommittee on Capital Markets, Andy Barr (Kentucky 6th district) is the new Chair of the Subcommittee on Financial institutions, while the Chair for the Subcommittee on National Security, Illicit Finance, and International Financial Institutions has been given to Warren Davidson (Ohio 8th district).

Continuing with the new roles, Bryan Steil (Wisconsin 1st district) is the new Chair of the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence, while Dan Meuser (Pennsylvania 9th district) is the new Chair of the Subcommittee on Oversight and Investigations.

Finally, the new Chair of the Subcommittee on Housing and Insurance is Mike Flood (Nebraska 1st district).

What These Appointments Mean for Crypto

It’s only natural to expect there will be some changes since the House Financial Services Committee exercises legislative oversight over the entire U.S. financial services sector, encompassing securities, insurance, banking, and housing. 

They also monitor the activities of key financial regulators such as the Federal Reserve, the Department of the Treasury, and the Securities and Exchange Commission. In other words, everything related to finance falls under FCS, which makes it one of the most powerful committees.

What makes these new appointments particularly noteworthy is that most, if not all, of the newly appointed leaders have expressed pro-crypto views.
For instance, based on previous comments, Bill Huizenga has indicated he looks favorably toward crypto, as well as Bryan Steil, Mike Flood, and others. Hence, it’s safe to say that these changes are good news for the crypto world, though it remains to be seen how much of an impact they will have both on the financial and crypto sectors.