House Financial Services chair says SEC, CFTC fall short, urges Clarity Act passage

U.S. House Financial Services Committee Chairman French Hill said regulators are moving to address digital-asset issues, but their actions are not enough. In an interview with Fox Business, Hill said the U.S. SEC and CFTC have proposed rulemakings covering various aspects of crypto regulatory oversight and enforcement, but those efforts fall short of the Clarity Act. Hill added the two agencies’ responses remain inadequate and said Hill still hopes the Clarity Act can pass before the next congressional session in 2027, stressing that permanent legislative changes are needed for the United States to maintain its lead in crypto and blockchain technology.