CLARITY is still 11 votes short, with only 22 days left
French Hill, chair of the U.S. House Financial Services Committee, made another appeal this week: he hopes Congress will pass the CLARITY Act during the post-midterm-election “lame-duck session.” The reason is straightforward: rules currently being advanced by the SEC and CFTC could be reversed by the next administration. Only legislation can make them stick.
But let’s do the math. The Senate’s procedural vote on September 15 was 49 to 50. It takes 60 votes to open debate, leaving the bill 11 votes short. After the election, the Senate will have only about 22 working days left. This Congress ends on January 3, 2027, and any bill that doesn’t pass won’t carry over to the next Congress—it will have to start the process all over again.
Meanwhile, the SEC and CFTC together have seven vacant commissioner seats. Legislation is stalled in Congress, while regulators are pushing ahead with rules on their own—and those rules may not prove durable either.
Calling for a bill to pass and actually passing it are two different things. Until that 11-vote gap is closed, nothing has changed.
I’ll keep holding spot assets. I’m not chasing the market based on a single sound bite; I’ll wait until the Senate actually schedules a vote.
#FrenchHill敦促跛脚鸭会期通过CLARITY法案 $BTC
French Hill, chair of the U.S. House Financial Services Committee, made another appeal this week: he hopes Congress will pass the CLARITY Act during the post-midterm-election “lame-duck session.” The reason is straightforward: rules currently being advanced by the SEC and CFTC could be reversed by the next administration. Only legislation can make them stick.
But let’s do the math. The Senate’s procedural vote on September 15 was 49 to 50. It takes 60 votes to open debate, leaving the bill 11 votes short. After the election, the Senate will have only about 22 working days left. This Congress ends on January 3, 2027, and any bill that doesn’t pass won’t carry over to the next Congress—it will have to start the process all over again.
Meanwhile, the SEC and CFTC together have seven vacant commissioner seats. Legislation is stalled in Congress, while regulators are pushing ahead with rules on their own—and those rules may not prove durable either.
Calling for a bill to pass and actually passing it are two different things. Until that 11-vote gap is closed, nothing has changed.
I’ll keep holding spot assets. I’m not chasing the market based on a single sound bite; I’ll wait until the Senate actually schedules a vote.
#FrenchHill敦促跛脚鸭会期通过CLARITY法案 $BTC