House Finance panel chair says regulator actions on crypto ‘fall short’ of CLARITY bill
Summary
House Financial Services Committee Chair French Hill said SEC and CFTC rulemaking cannot provide the long-term certainty of legislation, and urged Congress to pass the CLARITY Act during its post-midterm lame-duck session. The Senate rejected the bill last month, and only 22 session days are scheduled between the November elections and the next Congress taking office in 2027. SEC and CFTC leaders have said they will advance crypto rules under President Trump, but both agencies have numerous vacant leadership posts: the SEC has two commissioners remaining after Hester Peirce’s resignation, while CFTC Chair Michael Selig is the agency’s only commissioner.
