French Hill says SEC and CFTC crypto rules are no substitute for the CLARITY Act

Rep. French Hill has a message for crypto’s regulators: thanks for the effort, but it isn’t enough. The Arkansas Republican, who chairs the House Financial Services Committee, said in an October 7, 2026, interview that recent SEC and CFTC moves on digital assets fall short of what a real law would deliver. His preferred fix is still the Digital Asset Market Clarity Act, better known as the CLARITY Act, even after the Senate turned it away last month. What Hill actually said Hill’s core complaint is durability. Agencies can write rules, and agencies can rewrite them. A statute is a different animal. He framed congressional action as a “permanent law change”, in contrast to agency policies that can be reversed. Hill argued that regulatory policy is exposed to whoever controls the executive branch. A new administration can bring new priorities, and with them, new rules for the same industry. He also pointed out that the SEC and CFTC have floated different approaches depending on which part of the digital asset market is involved. Those proposals, Hill said, still don’t deliver the clarity and stability the industry needs to grow. How the CLARITY Act stalled The bill hit a wall in the ...