Chairman of the U.S. House Financial Services Committee Calls on Congress to Pass the CLARITY Act

French Hill, the chairman of the U.S. House Financial Services Committee, stated that the actions of the SEC and CFTC regarding digital asset regulation lack the long-term stability of congressional legislation. He hopes that Congress will pass the CLARITY Act during the lame-duck session before the new Congress takes office in 2027. The SEC and CFTC have proposed related rule-making plans, but Hill pointed out that the regulatory actions of the two agencies following the Senate's failure to pass the CLARITY Act last month are still insufficient to replace legislative proposals. SEC Chairman Paul Atkins and CFTC Chairman Michael Selig have announced that they will advance cryptocurrency regulation as directed by President Donald Trump. Currently, there are seven vacancies in the leadership of the two agencies, with Hester Peirce announcing her resignation as SEC Commissioner last week, and the CFTC is currently led only by Selig as Chairman and Commissioner.

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