U.S. Rep. Luetkemeyer will retire at the end of the year, and crypto-friendly congressman French Hill may have the opportunity to serve as chairman of the House Financial Services Committee

Rep. Blaine Luetkemeyer, a Republican from Missouri, announced his retirement on Thursday, potentially making room for the House Financial Services Committee to welcome a pro-cryptocurrency chairman after current Chairman Patrick McHenry leaves in early 2025. Under McHenry’s leadership, the House Financial Services Committee has advanced bills aimed at regulating stablecoins and comprehensively addressing the structure of the cryptocurrency market. Luetkemeyer has a seat on the committee and has previously expressed plans to run for McHenry's chairmanship. Luetkemeyer's retirement at the end of 2024 means Republican Rep. French Hill, who represents Arkansas, could take over as chairman. Hill leads the committee’s group focused on digital assets and is involved in developing legislation involving cryptocurrencies such as stablecoins. Ron Hammond, director of government relations for the Blockchain Association, said Hill has a very good record of working across party lines. (The Block)