US Senate · White House · CLARITY Act · France · US Congress · Cointelegraph
House Finance panel chair confirms regulator actions on crypto ‘fall short’ of CLARITY bill
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Representative French Hill hopes lawmakers could pass a cryptocurrency market structure bill before the next session of Congress in 2027 as SEC and CFTC actions weren’t sufficient.
Key facts
- As Hill noted, the Senate would have only 22 days in session between the US midterm elections in November and the next group of lawmakers entering Congress in 2027
- The Arkansas lawmaker’s comments came after the heads of the SEC and CFTC, Paul Atkins and Michael Selig, respectively, announced plans to move forward with crypto regulation at the direction of US
- Representative French Hill hopes lawmakers could pass a cryptocurrency market structure bill before the next session of Congress in 2027 as SEC and CFTC actions weren’t sufficient
- Commissioner Hester Peirce announced her resignation from the former last week, leaving only Chair Atkins and Mark Uyeda
Summary
Representative French Hill, who chairs the House Financial Services Committee, said that though US financial regulators were moving forward with addressing digital assets, their actions lacked the long-term stability of legislation from Congress. In a Wednesday Fox Business interview, the Arkansas lawmaker said the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) had taken steps to address crypto regulations after the US Senate failed to pass the Digital Asset Market Clarity (CLARITY) Act last month. “I still have hope that we can get passed in the lame duck session of Congress,” said Hill. The Arkansas lawmaker’s comments came after the heads of the SEC and CFTC, Paul Atkins and Michael Selig, respectively, announced plans to move forward with crypto regulation at the direction of US President Donald Trump.