House Finance Chair French Hill Says SEC and CFTC Crypto Actions Fall Short of the CLARITY Act

French Hill, the Arkansas Republican who chairs the House Financial Services Committee, says recent moves by US financial regulators cannot replace a law passed by Congress. Speaking in a Wednesday Fox Business interview, he said the SEC and CFTC acted on crypto rules after the Senate failed to pass the Digital Asset Market Clarity Act last month. Both agencies have proposed rulemaking on different parts of oversight and enforcement, but Hill argued their response falls short of a legislative fix. He said he still hopes CLARITY can pass in the lame duck session, calling for a permanent law so America leads in digital assets and blockchain technology.

SEC and CFTC Crypto Rulemaking Under Trump

Hill’s remarks followed announcements from SEC Chair Paul Atkins and CFTC Chair Michael Selig that they would advance crypto regulation at President Donald Trump’s direction.

Lame Duck Session Timeline for the CLARITY Act

The Senate will have only 22 session days between the November midterms and the arrival of the new Congress in 2027. Election results could sway votes, since lawmakers will know whether they are staying or leaving in January.

SEC and CFTC Commissioner Vacancies

Seven leadership seats are currently empty across the two agencies. Hester Peirce announced her SEC resignation last week, leaving Atkins and Mark Uyeda, while Selig is the CFTC’s chair and only commissioner.