$BTC
French Hill is back, urging Congress to pass the CLARITY Act during the lame-duck session
A window of opportunity for U.S. crypto legislation
Whoa
Guys,
this guy knows what he’s doing
House Financial Services Committee Chairman French Hill has publicly urged Congress to move quickly and pass the CLARITY Act during the lame-duck session
He believes that administrative oversight by the SEC and CFTC alone
cannot replace formal legislation passed by Congress
The reason is simple
The Senate already blocked it in September
At the time, it needed 60 votes
But it only got 49
So it didn’t pass
Now, with the lame-duck session after the election approaching,
there’s less and less time for Congress to get real work done
Hill believes that
although the SEC and CFTC are currently trying to fill the gaps for the crypto industry through rules and exemptions,
those measures still aren’t legislation passed by Congress
And they could change at any time after a change in administration
Put simply,
this guy wants to get this settled as soon as possible
If the bill really passes,
the biggest significance for crypto won’t be how much Bitcoin goes up
It’ll be that this is a genuinely big deal
Make the rules clear
Sort out the regulatory framework
Then institutions can enter the market without worrying
Let’s hope this guy
doesn’t let anything go sideways halfway through
#frenchhill敦促跛脚鸭会期通过clarity法案
French Hill is back, urging Congress to pass the CLARITY Act during the lame-duck session
A window of opportunity for U.S. crypto legislation
Whoa
Guys,
this guy knows what he’s doing
House Financial Services Committee Chairman French Hill has publicly urged Congress to move quickly and pass the CLARITY Act during the lame-duck session
He believes that administrative oversight by the SEC and CFTC alone
cannot replace formal legislation passed by Congress
The reason is simple
The Senate already blocked it in September
At the time, it needed 60 votes
But it only got 49
So it didn’t pass
Now, with the lame-duck session after the election approaching,
there’s less and less time for Congress to get real work done
Hill believes that
although the SEC and CFTC are currently trying to fill the gaps for the crypto industry through rules and exemptions,
those measures still aren’t legislation passed by Congress
And they could change at any time after a change in administration
Put simply,
this guy wants to get this settled as soon as possible
If the bill really passes,
the biggest significance for crypto won’t be how much Bitcoin goes up
It’ll be that this is a genuinely big deal
Make the rules clear
Sort out the regulatory framework
Then institutions can enter the market without worrying
Let’s hope this guy
doesn’t let anything go sideways halfway through
#frenchhill敦促跛脚鸭会期通过clarity法案