WASHINGTON, DC – Today, Congressman Bryan Steil (WI-01) was chosen to lead the Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence in the 119th Congress by House Financial Services Chairman French Hill (AR-02).

“Innovation in the financial services sector provides an exciting opportunity for consumers and entrepreneurs, as technologies like financial apps, digital assets, and machine learning revolutionize our economy,” said Steil. “ I am honored to serve as the Chairman of the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence. I look forward to building on the important work this subcommittee completed under Chairman Hill as we continue to provide the rules of the road to move our economy into the future.”

“Rep. Steil has been a leader in his time in Congress, both on our Committee and as House Administration Committee Chairman. As a member of the Digital Assets Subcommittee last Congress, Steil helped push forward our agenda and was instrumental in the historic House passage of FIT21 and fighting to roll back SAB 121. I am delighted he will take over my role as Digital Assets Subcommittee Chairman for the 119th Congress and be a leader in counting our work to create a regulatory framework for digital assets that will protect consumers and investors while keeping the United States a leader in innovation in the digital assets ecosystem” said Hill.

Background:

Congressman Steil previously served as a member of the Subcommittee on Digital Assets, Financial Technology and Inclusion in the 118th Congress and is serving his fourth term on the Financial Services Committee.

The Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence will have jurisdiction over matters including:

  • Digital assets, cryptocurrencies, stable assets, and central bank digital currencies.
  • Innovative financial technology, including transactions using mobile devices and services offered by non-bank firms.
  • Technologies of machine learning and artificial intelligence.
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