According to Politico, U.S. House Republicans intend to form a crypto committee, indicating that the GOP intends to prioritise crypto oversight and legislation. According to Politico, incoming Financial Services Chair Patrick McHenry (R-NC) formed the committee because he felt the Financial Services Committee needed to spend more time on the increasingly volatile crypto industry. Rep. French Hill (R-Ark. ), who has investigated the viability of a central bank digital currency, will chair the new subcommittee on digital assets, financial technology, and inclusion. Rep. Warren Davidson (R-Ohio), who has been active on crypto issues, will serve as vice chair of the subcommittee.