SEC and CFTC Crypto Rules 'Fall Short' of Clarity, Says Rep. French Hill
60-second summary
Rep. French Hill says the SEC and CFTC’s new crypto rules fall short of needed clarity, noting they only respond to the failed Clarity Act and lack permanent legislative authority. He praises the agencies’ intervention but argues only a lasting law can guarantee U.S. leadership in digital asset regulation, urging Congress to act promptly.
The House Financial Services chairman credited the SEC and CFTC for stepping in after the Clarity Act's collapse but said only "permanent law change" can secure U.S. leadership.