Rep. French Hill wants a deadline.
One year after the House it has passed Digital Asset Market CLARITY Act, the Arkansas Republican who chairs the House Financial Services Committee used Fox Business. interview and anchor Maria Bartiromo to force the leaders of the Senate to vote on the floor before the time of August.
“I have urged the Senate leadership to put it down,” Hill said. “I think if you set a date to come here in July, that will make these last meetings, these last negotiations happen. You have to have a deadline in Congress to move people to an agreement.”
Hill thanked Senators Kirsten Gillibrand, Cynthia Lummis, John Boozman and Tim Scott for working to bring the deal together, and pointed to the 78 Democrats who supported the House last year.
Hill’s main argument is that the CLARITY Act would address concerns about the use of these restrictions, rather than deepening them.
Critics point to President Trump’s crypto companies, including the $TRUMP meme coin licensing and the World Liberty Financial token sale, which July 1 funds. to reveal tied for nearly $1.4 billion in revenue by 2025.
Hill argues that the market provides the transparency the critics want.
“If we had passed the CLARITY Act last summer, many of the things that people are concerned about – meme financing, joint trading, using exchanges, trading – all of which would have been under the legal market clearly, without any intention, and this would give greater visibility to people who are worried about the money of the Trump family,” he said.
The Clarity Act is related to the GENIUS Act
Phiri introduced the law as the missing half of a plan that combines with the GENIUS Act, a stablecoin law enacted last year.
“Stablecoin is like a phone and not connected to the mobile phone network,” he said, “and the market mechanism is in fact that network that we need.” To keep up the pressure, Hill is planning a field hearing in New York next week, led by the chairman of the digital subcommittee of Rep. Bryan Steil, to file a lawsuit against the market.
His push received support from two other voices in the same appearance of Bartiromo. CFTC Chairman Michael Selig cautioned against “extending what’s important here” and warned that the stalled bill would leave regulations up to regulators.
Coinbase Vice Chairman Ryan VanGrack, a former director of the SEC, explained that “the line of the same court,” legislators from both parties “are working day and night to make this happen.”
The Senate returns on July 13 with about three weeks before recess. Predicting the market Polymarket prices Clarity Act 2026 paragraph about 39%, down from 74 last month.
