Digital Assets, Financial Technology, and Artificial Intelligence

The Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence is a specialized panel within the House Committee on Financial Services that focuses on emerging technologies reshaping the financial system. As a subcommittee, it conducts initial hearings and reviews legislation within its narrow jurisdiction before matters can be considered by the full committee. The subcommittee exists because digital assets, financial technology, and artificial intelligence represent rapidly evolving areas requiring focused congressional attention separate from the broader financial services landscape.

The subcommittee's jurisdiction covers digital assets including cryptocurrencies, stablecoins, and central bank digital currencies; innovative financial products and services offered by non-bank firms; regulatory technology; and artificial intelligence applications in banking. It also oversees how federal financial regulators including the Treasury Department, Federal Reserve, SEC, and FDIC supervise these emerging areas.

Chairman Bryan Steil (R-WI) leads the subcommittee, with Ranking Member Stephen F. Lynch (D-MA) representing the Democratic minority. The 21-member panel has held recent hearings examining how federal bank regulators keep pace with technology innovation, cryptocurrency market structure and securities law alignment, and fintech innovation in the financial sector. These hearings have brought testimony from federal agencies and policy experts on topics ranging from stablecoin regulation to generative AI applications in banking and the risks of cryptocurrency for illicit activity.