According to CoinMeta, the chairman of the U.S. House Financial Services Committee, French Hill, stated that regulatory actions by SEC and CFTC cannot replace the long-term stability provided by congressional legislation. The United States needs permanent laws to maintain its leadership in the fields of digital assets and blockchain technology. Currently, there are a total of 7 vacant committee seats for SEC and CFTC. After Hester Peirce resigned, SEC is now only composed of Chairman Paul Atkins and Commissioner Mark Uyeda; Chairman Michael Selig is the only incumbent commissioner in that institution.