House committee chair pushes CLARITY Act over SEC and CFTC rules
CIE News ·
House Financial Services Chairman French Hill criticized SEC and CFTC rulemaking as insufficient and announced plans to advance the CLARITY Act during the upcoming lame-duck session.
House Financial Services Committee Chairman French Hill stated on October 8, 2026, that administrative rule proposals from the SEC and the CFTC are insufficient to regulate digital assets. Speaking on Fox Business, Hill stated that regulatory policies fall short of a legislative solution, according to Bitcoin.com News. Hill announced plans to push the Digital Asset Market Clarity Act, known as the CLARITY Act, during the post-midterm lame-duck congressional session to create a permanent statutory framework.
Hill argued that regulatory interpretations like the SEC's Regulation Crypto Assets and the CFTC's retail margin framework remain vulnerable under the Administrative Procedure Act. Legal analysts at Troutman Pepper Locke noted that agency-driven rules provide no lasting certainty because future administrations can revise, withdraw, or alter enforcement priorities. Hill emphasized that digital asset markets require explicit statutory codification rather than administrative interpretation to remove perpetual litigation risks.
The push follows a failed Senate cloture vote on the CLARITY Act, which stalled after a 49-50 vote. Hill, who previously championed the FIT21 Act, maintained that permanent statutory changes are necessary to secure U.S. leadership in digital assets and blockchain technology.