House Financial Services Committee Chair French Hill says rules from the SEC and CFTC “fall short” of the permanent changes the CLARITY Act would deliver, and he hopes Congress can pass the bill in the lame duck session before the new Congress begins in 2027. “I still have hope,” he told Fox Business, saying the bill is needed to ensure “America is number one in digital assets.” Senator Cynthia Lummis added a new line of attack on Democrats. She said they demanded that exchanges prove they can access and transfer customers’ private keys, a provision missing from the House version but written into the Senate’s CLARITY Act, and then voted no on the bill. She framed the vote as a rejection of real safeguards for consumer funds.
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