Earlier this week, U.S Speaker of the House Kevin McCarthy, R-California, said his party will consider an impeachment inquiry into President Joe Biden for financial misconduct. McCarthy said the inquiry is needed because it would provide the House with a way to investigate Biden.
In an interview with CNBC News, U.S Rep. French Hill, R-Little Rock, said he believes McCarthy is being careful with his handling of a potential inquiry. Hill said he does have concerns with Biden’s connection to his son Hunter Biden, who recently pleaded guilty for failure to pay income taxes.
“There’s something that doesn’t smell right here based on the FBI materials that the [House] Oversight Committee led by James Comer have reviewed,” he said. “We find inconsistencies in what President Biden has said his connection to his son’s dealings were when he was vice president.”
An impeachment inquiry would be the first step toward bringing articles of impeachment, according to the Associated Press.
Digital Assets Bill
During a meeting of the U.S House Financial Services Committee, Hill expressed support for a bill called the Financial Innovation and Technology Act (FIT).
Hill, who sponsored the bill, said it was created as a response to the collapse of FTX, which was a platform to exchange cryptocurrency. In an interview with CNBC News, Hill said current law doesn’t make it clear who has the authority to regulate digital assets. He said this bill would address that.
“If it’s a security the [Securities and Exchange Commission] SEC is in charge and if it’s a commodity the [Commodity Futures Trading Commission] CFTC is in charge. People can be duly registered to trade these entities on the proper exchange, either a securities exchange or a commodities exchange,” he said.
Hill said the legislation has bipartisan support and takes into account feedback from investors and the Biden Administration.
