SEC and CFTC Crypto Rules 'Fall Short' of Clarity, Says Rep. French Hill
Summary
House Financial Services Committee Chair French Hill says SEC and CFTC crypto initiatives cannot replace durable legislation. He argues the stalled Clarity Act is needed to establish lasting digital-asset rules and define the agencies’ jurisdictions. The Senate recently failed to advance the bill in a 49-50 vote, after which regulators moved ahead with exemptions, custody proposals and plans for federal oversight of crypto exchanges. Hill hopes lawmakers can revive the legislation during the lame-duck session, though its prospects remain uncertain.
