CROWDFUNDINSIDER · 2026-10-13 21:00 UTC

CLARITY Act Supporter Argues that SEC, CFTC Crypto Rules Fall Short without Legislation

House Financial Services Committee Chairman French Hill argues that SEC and CFTC regulatory actions on crypto cannot replace the statutory framework that only Congress can provide through legislation like the CLARITY Act. The CLARITY Act failed in the Senate with a 49-50 procedural vote in September 2026, requiring 60 votes to advance, prompting the SEC and CFTC to proceed with their own regulatory initiatives including custody rules and platform oversight. Hill contends that agency exemptions and rules lack durability compared to legislation, as they can be challenged in court or reversed…

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