Trump’s Pro-Crypto Agenda Still Ontrack, Says House Leader French Hill

Time may be ticking on getting key crypto legislation across the finish line in Congress, but one of the most important players in the House is unwavering in his confidence.

Despite the delays, House Financial Services Chair French Hill tells Coinage that Trump's pro-crypto agenda is still very much ontrack. The legislative groundwork laid by House Republicans — and momentum from top Senate allies — has positioned Congress to deliver on Donald Trump’s pro-crypto agenda, and soon.

“I see demonstrated success in the House that I think can lead to hitting President Trump's goal by the August recess,” Hill said, pointing to collaboration between key senators including Tim Scott, Rick Scott, Bill Hagerty, Cynthia Lummis, and Mike Rounds. “It means that we can do this.”

Hill’s confidence isn’t just about optimism — it’s about coordination. “We're going to be collaborating and working on the best legislative strategy in the House and the Senate and with President Trump,” he said. “If you have a dollar backed payment stablecoin, you need the infrastructure in which to use it. That's why market structure is important.”

Together, the two pillars — stablecoin regulation and crypto market structure — form the backbone of what Hill views as a transformative opportunity. “Both together will put the US at the forefront for innovation,” he said, adding, “bringing coding back, bringing technology investors back into the country.”

It’s a strategic push that comes after years of legislative prep work. However, bipartisan goodwill was recently undone in part due to Trump's own personal crypto endeavors, which raised alarm bells for many Democrats that had come to embrace a pro-crypto stance. Senator Elizabeth Warren has been attempting to sway her allies in the Senate and on the House side, hearings led by Chair Hill have sparked recent theatrics, including Maxine Waters attempting to shut one down to protest the President Trump-attached USD1 stablecoin.

The necessary sausage making and vote jockeying is expected to continue into a Wednesday hearing where the House Financial Services Committees will present and discuss an updated and ambitious draft market infrastructure bill now branded the CLARITY Act. “I think people will see that it's an improvement,” Hill said. “And we've listened to the ecosystem and the government... on how to do it right.”

Still, even with bipartisan progress, stablecoin legislation has taken longer than many anticipated. “I'm never frustrated by legislating,” Hill said. “Sausage making… just takes time. You've got to have patience.”

The latest boost, Hill says, is the added attention within the administration. “We get technical assistance from the Treasury, from the Commodity Futures Trading Commission, from the SEC, and the bank regulators,” Hill said. But even with that, Democrats in the House, including Rep. Stephen Lynch, have raised remaining warnings over potential market failures and inevitable bailouts at the hands of a future stablecoin issuer failing.

Hill emphasized the importance of thoughtful regulation and robust safeguards: “Systemic risk in finance is a top issue for Congress and for the bank supervisors.” The final concessions may shore up concentration risks and offer transparency and consumer protections. “There’s no one in the world that has the transparency, auditing, capital requirements that we’re contemplating,” Hill noted. “Treasury repo. Insured deposits. Auditing. Transparency. Reporting. I think that helps.”

As for the finish line? Hill pointed to the Senate’s upcoming work as the key inflection point: “We need to see the success in the Senate in the next two or three weeks when they pass their GENIUS Stablecoin Act,” he said. “Then we'll consult with them on how best to deal with it in the House.”

With just weeks to go before Congress’s August recess, Hill remains undeterred. Odds on Polymarket of a stablecoin bill passing appear to be rising again, with bettors assigning an 88% chance it gets done this year.

“We have the wind at our back,” Chair Hill said. And for Trump’s crypto agenda, that wind may soon carry stablecoin and market structure reform across the finish line.

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