French Hill, Chairman of the House Financial Services Committee, stated that regulatory actions by the SEC and CFTC cannot replace the long-term stability provided by congressional legislation, and that the United States needs permanent laws to maintain leadership in digital assets and blockchain technology. At present, there are a total of 7 vacant committee seats in the SEC and CFTC. After Hester Peirce's resignation, the SEC only has Chairman Paul Atkins and Commissioner Mark Uyeda left, and CFTC Chairman Michael Selig is the only current commissioner of the institution.
