On October 7, House Financial Services Committee Chair French Hill said in an interview with Fox Business:
“SEC and CFTC crypto enforcement actions are not enough to replace legislation.”
He then said he still hopes to pass the CLARITY Act during the lame-duck session.
First, some background:
In September, a motion to proceed to debate on the CLARITY Act (Digital Asset Market Clarity Act) was put before the Senate. It received 49 votes in favor—11 short of the 60-vote threshold. The bill isn’t dead, but it has been put on hold.
Why does Hill say the SEC and CFTC rules are “not enough”?
Because regulatory rules can be overturned by the next administration, while legislation passed by Congress cannot.
This year, under Atkins’s leadership, the SEC issued a custody rule proposal, an innovation exemption (for tokenized stocks), and a regulatory framework for crypto assets. The CFTC is also advancing rules for event contracts. These are all administrative rules, not laws.
After a change in administration, new regulators could rewrite these rules, leaving the market uncertain again.
The CLARITY Act aims to clearly assign regulatory authority over digital assets other than BTC and ETH to the CFTC, so crypto companies know which rules they must follow—something regulatory rules alone cannot accomplish.
The current window of opportunity:
Midterm elections (November 4) → New Congress takes office (early January 2027)
During this lame-duck session, the Senate has only 22 scheduled working days.
The sticking point is the bill’s “controversial provisions”—mainly the details of how jurisdiction is divided between the CFTC and the SEC. Democrats have reservations on this issue. Can the disagreement be resolved within 22 days? Hill himself only said there is “still hope.”
For BTC: Passage of the CLARITY Act would give the entire altcoin market a clear compliance framework and open the door for institutional investment—a major boost for the alt-season narrative.
Are 22 days enough?
$BTC
#frenchhill敦促跛脚鸭会期通过clarity法案
“SEC and CFTC crypto enforcement actions are not enough to replace legislation.”
He then said he still hopes to pass the CLARITY Act during the lame-duck session.
First, some background:
In September, a motion to proceed to debate on the CLARITY Act (Digital Asset Market Clarity Act) was put before the Senate. It received 49 votes in favor—11 short of the 60-vote threshold. The bill isn’t dead, but it has been put on hold.
Why does Hill say the SEC and CFTC rules are “not enough”?
Because regulatory rules can be overturned by the next administration, while legislation passed by Congress cannot.
This year, under Atkins’s leadership, the SEC issued a custody rule proposal, an innovation exemption (for tokenized stocks), and a regulatory framework for crypto assets. The CFTC is also advancing rules for event contracts. These are all administrative rules, not laws.
After a change in administration, new regulators could rewrite these rules, leaving the market uncertain again.
The CLARITY Act aims to clearly assign regulatory authority over digital assets other than BTC and ETH to the CFTC, so crypto companies know which rules they must follow—something regulatory rules alone cannot accomplish.
The current window of opportunity:
Midterm elections (November 4) → New Congress takes office (early January 2027)
During this lame-duck session, the Senate has only 22 scheduled working days.
The sticking point is the bill’s “controversial provisions”—mainly the details of how jurisdiction is divided between the CFTC and the SEC. Democrats have reservations on this issue. Can the disagreement be resolved within 22 days? Hill himself only said there is “still hope.”
For BTC: Passage of the CLARITY Act would give the entire altcoin market a clear compliance framework and open the door for institutional investment—a major boost for the alt-season narrative.
Are 22 days enough?
$BTC
#frenchhill敦促跛脚鸭会期通过clarity法案