Calls to mess with cryptocurrencies in the world sound more and more clearly. For example, the day before, a recommendation to allocate 2 per cent of capital to bitcoin purchases was shared by analysts at BlackRock.

And since it is the largest investment company in the world with trillions of dollars in assets under management, the event can be considered extremely important for the coin sphere.

Progress in cryptocurrency regulation

Hill is known for his loyal attitude towards digital assets. At this point, there is every reason to believe that in his new position he will show persistence in approving bills important for the regulation of the industry. Well, the coin sphere will get adequate rules of work, which will be able to attract new developers and entrepreneurs to the industry.

Hill took over as chairman of the Committee on Thursday after a second round of voting, defeating three other cryptocurrency-loyal candidates, including Representative Andy Barr of Kentucky. The Arkansas Republican currently chairs a subcommittee on digital assets and has pushed several coin-related bills.

According to Decrypt’s sources, the U.S. House Financial Services Committee’s spectrum of authority covers the Federal Reserve (Fed), Wall Street regulation, and the crypto market. Although crypto has received little attention in the government until recently, given the current size of the industry, it is literally impossible to ignore it.

The new head of the Financial Services Committee of the U.S. House of Representatives, French Hill.

Another important detail for the coin industry: under Hill’s leadership, the Committee also intends to study the so-called “Operation Strike 2.0”. This term refers to the coordinated actions of the US government during Joe Biden’s presidency, aimed at restricting cryptocurrency companies’ access to banking services.

For this purpose, the Federal Deposit Insurance Corporation (FDIC) directly contacted some banks and demanded from them to stop interacting with representatives of the sphere of digital assets. And the day before, evidence of this activity was published in court, which leaves hope that all those involved in the scheme will be punished.

A separate item in Hill’s track record is an attempt to overturn the Securities and Exchange Commission’s (SEC) directive requiring banks to include customers’ crypto-assets in their balance sheets. However, incumbent President Biden ultimately vetoed the resolution, causing the initiative to come to nothing.

Hill succeeded previous chairman Patrick McHenry, a Republican from North Carolina. He actively promoted cryptocurrency-related legislation, including the comprehensive Financial Innovation and Technology Act of the 21st Century, known by the acronym FIT21.

French Hill also has the requisite knowledge base on crypto – he has co-authored several bills on digital assets. So here’s hoping that his experience will help in promoting bills useful for digital assets, and this will already have a positive impact on the value of Bitcoin in the long term.

Current SEC Chairman Gary Gensler

Other important personnel moves from newly elected US President Donald Trump include the appointment of David Sachs as an advisor on artificial intelligence and crypto, as well as Paul Atkins as the new SEC chairman.

The latter will replace current SEC head Gary Gensler, who will retire as early as 20 January. Accordingly, this will happen on Trump’s inauguration day.

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And while the price of Bitcoin is holding above the $100,000 level, analysts at The Kobeissi Letter noted an interesting feature. According to their data, there has been active selling of shares by corporate executives lately.

Here is a rejoinder on the matter, as quoted by Cointelegraph.

CEOs are selling their shares at a record pace, with the ratio of sellers to buyers reaching 6 to 1.

Bitcoin specifically has not been affected – its year-to-date return is over 127 per cent after BTC rose over 13 per cent in the last month. However, there is a theory that the proceeds are also going towards the purchase of cryptocurrency.

According to a report by Matrixport analysts, thanks to improving macroeconomic conditions and falling interest rates in Europe and China, the first cryptocurrency could reach the $160,000 mark in 2025. That is, we are talking about a growth of about 60 per cent of the current price.

Volumes of stock sales by corporate holders

However, the upcoming US Federal Reserve interest rate decision on 18 December is in a position to significantly affect the dynamics of the asset value until the end of the year – this was stated by Jag Kuhner, head of derivatives at Bitfinex.


So far, everything is going to turn out to be a truly bullish year for the coin sphere. In addition to a new US president who is supportive of the cryptocurrency industry, we are also expecting a renewed Congress. Again, Trump has already picked quite a few people for key positions along the lines of SEC chairman, also supportive of the coin sphere.


Look for more interesting stuff in our crypto chat. There, we’ll talk about other important topics that are shaping the current bullrun in the coin industry.

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