How the House Financial Services Committee is taking on tokenization: State of Crypto
House Financial Services Committee Chair French Hill says crypto policy will likely keep moving with bipartisan support, especially after stablecoins and market structure. He expects the Clarity Act to win Senate agreement because the House already found compromise on issues like stablecoin sales practices, DeFi and ethics, and he says Senate drafts are building on House work. The next major focus is tokenization. Hill says hearings are meant to help Congress and regulators decide whether existing securities and banking rules already cover tokenized assets or whether new authority is needed. He views tokenization as mainly a systems change, not a legal rewrite, with interoperability and compliance as the biggest challenges. Hill also flags crypto tax reform as another active area and says the industry’s political spending will matter in the 2026 elections. If GENIUS rulemaking and Clarity pass, he expects a yearlong SEC-CFTC rulemaking process to follow.
