French Hill says SEC and CFTC crypto regulatory actions remain insufficient, hopes to pass the CLARITY bill after the midterm elections
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French Hill says SEC and CFTC their crypto regulatory actions remain insufficient, and hopes Congress will pass the CLARITY bill after the midterm elections.
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Chairman of the U.S. House Financial Services Committee:SEC and CFTC crypto regulatory actions remain insufficient, hopes to pass after the midterm elections CLARITY legislation
BlockBeats news,October 8, U.S. House Financial Services Committee Chairman French Hill said,SEC and CFTC have taken steps to advance crypto regulation, but these actions still do not provide the long-term stability that congressional legislation could offer. After the Senate failed to pass the Digital Asset Market Clarity Act (CLARITY) last month, the two regulatory agencies proposed related rulemaking plans. Hill believes permanent legal changes are still needed to ensure that the United States remains a leader in digital assets and blockchain technology.
In an interview with Fox Business, Hill said he still hopes Congress can pass the CLARITY bill during the “lame-duck” session after the midterm elections.November Between the end of the election and the inauguration of the new Congress in 2027, the Senate has only 22 legislative days. The election results may affect lawmakers’ voting positions on the bill.
The two regulatory agencies currently have a combined 7 vacant commissioner seats. After Hester Peirce announced her resignation last week,SEC has only Chairman Paul Atkins and Commissioner Mark Uyeda remaining;CFTC Chairman Michael Selig is the agency’s only sitting commissioner.
Original link https://m.theblockbeats.info/flash/370654
Key points
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BlockBeats reported that U.S. House Financial Services Committee Chairman French Hill said,SEC and CFTC although they have taken steps to advance crypto regulation, these actions do not provide the long-term stability that congressional legislation could offer.
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The original text says that the Senate failed to pass the Digital Asset Market Clarity Act (CLARITY）。
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The original text says that SEC and CFTC subsequently proposed related rulemaking plans.
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In an interview with Fox Business, Hill said he hopes Congress will pass the CLARITY bill during the “lame-duck” session.
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The original text says that November between the end of the election and the inauguration of the new Congress in 2027, the Senate has only 22 legislative days.
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The original text says that SEC and CFTC currently have a combined 7 vacant commissioner seats.
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The original text says that after Hester Peirce announced her resignation,SEC only Chairman Paul Atkins and Commissioner Mark Uyeda remain;CFTC Chairman Michael Selig is the agency’s only sitting commissioner.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
Hill believes that rulemaking by regulatory agencies is less stable than legislation passed by Congress, and therefore hopes the CLARITY bill will pass during the current Congress’s remaining session after the election. The “lame-duck” session is the transition period after the election and before the new Congress takes office. The report also notes that the two regulatory agencies have multiple vacant commissioner seats.
Why it matters to readers
Whether the bill passes will determine whether U.S. digital asset regulation can achieve the long-term stability Hill described; the limited number of legislative days, the election results, and vacancies among regulatory agency commissioners are all factors worth monitoring.
Beginners can focus on whether the bill enters a specific agenda and comes to a vote, rather than treating Hill’s expressed hope as evidence that it has already passed. A regulatory rulemaking plan and congressional legislation are not the same thing.
Risks and unknowns
CLARITY Whether the bill can pass during the “lame-duck” session remains undetermined.
The original text does not specify the detailed agenda, voting date, or level of lawmaker support.
The original text only summarizes the regulatory agencies’ rulemaking plans and does not provide the plan documents or specific details.
It remains uncertain how the election results will affect lawmakers’ voting positions.
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The interview statements, vacant seats, and personnel status reported in the article are not accompanied by corresponding primary documents.
Related concepts
lame-duck session
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