House Financial Services Chair French Hill Urges Lame-Duck Passage of CLARITY Act Over Agency Rules

U.S. House Financial Services Committee Chair French Hill stated that ongoing regulatory rulemaking by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) "falls short" of establishing the permanent legal foundation needed for digital assets, calling instead for legislative enactment of the CLARITY Act.
Speaking on the limits of agency-level directives, Hill emphasized that executive actions and administrative guidelines lack the enduring durability of statutory law passed by Congress. He expressed hope that lawmakers can push the Digital Asset Market Clarity (CLARITY) Act through during the post-election lame-duck session before the new Congress convenes in 2027.
While SEC and CFTC leadership have moved forward with independent rulemaking frameworks, Hill noted that comprehensive market structure legislation remains essential to clearly delineate jurisdictional boundaries between securities and commodities, establish federal spot market oversight, and provide long-term regulatory certainty for the crypto industry.