Pro-crypto lawmaker French Hill re-elected, expected to lose House Financial Services Committee chair

TechFlow reported on Nov. 6 that, according to Cointelegraph, Republican House member French Hill, who supports the crypto industry, won re-election in Arkansas's 2nd Congressional District, defeating Democratic challenger Chris Jones. With Democrats taking control of the House in the midterm elections, Hill is expected to lose his position as chair of the House Financial Services Committee.

Hill introduced the CLARITY Act and voted in favor of the GENIUS Act. The report cited Reuters, noting that Maxine Waters, the committee's current Democratic ranking member, is the leading candidate to succeed him as chair. Fairshake, a political action committee supporting the crypto industry, had pledged $1 million to support Hill's re-election.

Source: TechFlow