• US Congressman French Hill plans to create a favorable regulatory framework for digital assets and blockchain technology to make America the leading place for innovation in fintech.
• Hill spoke in favor of a spot Bitcoin ETF, but also stated that Bitcoin is not yet fit to be used as a real-time payment method.
• He believes that the new subcommittee will be able to make progress on crypto-related matters, even with current SEC Chair Gary Gensler in charge.

US Congressman French Hill is making a push to make America the leading place for innovation in fintech and blockchain technology. Hill, the chairman of the newly formed congressional subcommittee on digital assets, spoke on CNBC’s Squawk Box on January 26th to promote his plans.

Hill aims to create a favorable regulatory framework for digital assets and blockchain technology. He believes that this will ensure that America remains at the forefront of technology innovation. Hill said, “We want to make sure that America is the place for innovation in FinTech and blockchain and distributed ledger technology is part of that FinTech future.” He also tweeted about his stance afterwards.

Hill also weighed in on the possibility of approving a spot Bitcoin ETF. He said that the new subcommittee is exploring this option, although the Securities and Exchange Commission has been very wary of a spot Bitcoin ETF due to its lack of approval from the central bank. Hill believes that the subcommittee will be able to make progress on crypto-related matters, even with current SEC Chair Gary Gensler in charge.

In addition, Hill said that Bitcoin is not yet fit to be used as a real-time payment method. He believes that more work needs to be done to make Bitcoin a viable payment option.

Overall, Hill is pushing to make America the go-to place for blockchain innovation. He believes that the new regulatory framework that he is advocating for will lead to more innovation and growth in the blockchain industry. He is also open to the idea of a spot Bitcoin ETF and believes that the subcommittee can make progress on crypto-related matters. With this in mind, it will be interesting to see how Hill’s plans for blockchain and digital assets progress in the future.