House Committee Chair Presses Congress to Pass CLARITY Act for Crypto Oversight

House Financial Services Committee Chair French Hill said recent SEC and CFTC actions on digital assets cannot replace a durable framework from Congress through the CLARITY Act. He urged lawmakers to pass the bill during the lame-duck session, arguing that agency policies may change under future administrations. His comments followed statements by SEC Chair Paul Atkins and CFTC Chair Michael Selig that their agencies would pursue crypto regulation at President Donald Trump’s direction.

French Hill, chair of the House Financial Services Committee, said recent SEC and CFTC digital-asset actions cannot replace legislation. After the Senate did not pass the CLARITY Act last month, the agencies advanced their own regulatory and enforcement plans, proposing separate oversight models for different market segments.

Hill argued that agency policy can change with future administrations, while a law would create lasting rules. He hopes Congress can act in the post-election session, which offers 22 session days before the next Congress starts in 2027. He also noted vacancies: the SEC has two commissioners after Hester Peirce resigned, and the CFTC has only Chair Michael Selig, leaving seven open leadership posts across both.