French Hill calls for permanent crypto law as agency rules fall short
CIE News ·
House Financial Services Committee Chair French Hill urged Congress to pass statutory crypto legislation, citing limits of SEC and CFTC rules after a Senate bill stalled.
House Financial Services Committee Chairman Rep. French Hill stated that regulatory measures by the SEC and CFTC cannot substitute for permanent statutory legislation, crypto.news reported. Speaking in a television interview on October 7, 2026, Hill argued that federal agency rules remain vulnerable to reversals and fall short of providing lasting certainty. His remarks follow the stalling of the Digital Asset Market Clarity Act, which secured 49 votes in the Senate on September 15, falling 11 votes short of the required 60-vote threshold.
According to crypto.news, Hill urged lawmakers to advance the framework during the post-election session, which has 22 scheduled legislative days remaining. The push comes amid seven commissioner vacancies across the SEC and CFTC following the departure of SEC Commissioner Hester Peirce. While agencies led by SEC Chair Paul Atkins and CFTC Chair Michael Selig have moved forward with independent rule proposals, Hill maintained that congressional action is necessary to establish permanent oversight for digital commodities and market structure.