The following is an interview transcript with the Rape French Hill, Republican to be aired on “Face the Nation with Margaret Brain” on July 13, 2025.
Margaret Brainon: We now go to the Congress French Hill. He is the chairman of the House Financial Services Committee. Welcome back to broadcasting. Your ears must have been ringing with two senators who started the program, as they were talking about grabbing some of those frozen Russian assets. You transferred a bill and gave them the right to confiscate the rampage under the Repo Act, actually during the final administration. The US has not seized the property of a central bank from any other country. Do you know if the Treasury Department is going to do this now?
Rape. French Hill: Well, Margaret, it is good to be with you. Yes. But we could never consensus between the United States and Europe to do so, yet supporting it despite a unanimous vote of the Parliamentary Assembly of the Council of Europe. So I continued to urge President Biden to do so. We received interest from those frozen assets to benefit Ukraine, but I think it’s time for the President to convert the assets seized into a trust account for the benefit of Ukraine. I am glad that both Senator Blutenl and Graham were happy to hear that supporting that idea. This is the time to do, and I have encouraged Secretary Besant that it should be a priority for President Trump.
Margaret Brainon: On another subject, because you have some oversight in financial space, I want to ask you about the comments made regarding Fed Chair Zerome Powell. The President says that the economy is in good position, but he still complains about the head of the central bank, says he is doing a terrible work because it is not reducing the interest rates. Today on another network, the President’s top economic advisor said that the White House is considering whether the President has the right to fire chair Powel. Do you believe that the President has the power and right to set fire to the Fed President?
Rape. Hill: You know, Margaret, not me, and I believe that President Trump has spoken about it many times in the last few years including recent years. Mr. Powell’s Governor, his chairmanship, is in the next spring. The President has vacancies in the Fed Board, where he can name another governor. But look, just because the Congress created a fed and we believe that it should be independent in the establishment of monetary policy, it does not mean that it is immune to criticism. And since World War Two, every President had words of choice for the fed chair when he was not in the sink with the direction of the President. So look, the Congress continues to overcome. I established a special task force to oversee Fed’s decision -making since the 2008 financial crisis. We have that investigation, review and inspection going on, and we will continue it.
Margaret Brainon: I think you will accept that most of the presidents may have the choice words behind the closed doors, not regularly on social media posts, Congressmen. But on Crypto, I want to ask you. Crypto in many ways, wild waste, right, because they do not have the same regulation in digital asset space that exist for banks and financial services. You have received some remedies this week.
Margaret Brainon: How do you ensure, as you put these rules in a way that makes more mainstream with the help of crypto, that it does not benefit some of the black market, for example, which uses it to get out of the oversight?
Rape. Hill: Absolutely. Well, on the Genius Act to create a dollar-supported stabilcoin in the Senate under the leadership of Bill Higrant and Tim Scott and Synthia Lummis, we have impressed it heavy on it, which determines the law and our clarification act in the last two years of the House, which determines road rules for a commodity, what is a security. These are rules that will protect consumers, limit access to our market and our investors are trying to influence crypto markets from institutions outside the United States. Today we have no one. We have a mismatch of rules by enforcement in the biden administration, and I believe that this week the bills we have made on the floor of our house will protect investors, consumers, and create the US, as President Trump wants, a leader in financial technology and crypto and digital assets innovation.
Margaret Brainon: You know, sir, that worry is that it is a petina of consumers without real muscles. It was interesting to see, and many Americans who hold hostage, would have seen that Fanny Mae and Freddy Mac who buy hostage and sell, that the head of the agency, Federal Housing Agency, Bill Pulte told them that they would have to prepare a proposal to review the crypto as a property on hostage applications.
Margaret Brainon: Fare, Given the huge taxpayer share in Freddy, are you comfortable with people using Crypto, something that is not really, you know, in many ways to pay for a down payment at a home, in many ways?
Rape. Hill: Well, for example, look at bitcoin. Now you can buy bitcoin. This is an object. It has been determined that it is an object by CFTC and SEC. An exchange-traded product, ETF, can hold it into their brokerage account through ETP. It is now a property for millions of Americans, and it can certainly be treated like a stock or bond or cash, which can be as contributing to a hostage to someone’s total value. And if we pass clarity this week, which I hope we will be on a bipartisan basis, and we prepare a dollar-supported stabecon like the talent offered by Senator Hergerti, we will have road rules. This will not be a fetina of consumer enforcement. This will be real consumer enforcement, investor protection–
Margaret Brainon: -And Down Payment for a Home-
Rape. Hill: -By both CFTC, SEC and bank, and bank regulators. Well, look again. Bitcoin is a property. You can determine if you think it is going to go in value or in value, such as stocks and bonds or other investments that are on their financial statements, to secure their financial details for net worth for net worth or down payment. Therefore, I think it is a financial property. Our bills will make it more secure, and one that is better, I think, all homes and businesses.
Margaret brain
I am out of time, so I have to leave it there. Thank you, Congressman. We will come back.
