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French Hill pushes for Bipartisan Clarity Act vote on Sept. 15

The House Financial Services chair said a key remaining sticking point is an ethics provision, while the bill would split oversight of digital assets among securities, commodities, and banking regulators.

Reported · Written up by our desk · Regulation

U.S. Congressman French Hill said Democrats and Republicans have narrowed their differences on the long-awaited Clarity Act, a proposed crypto market structure bill he is pushing to advance before the next political deadline.

According to Bitcoin Magazine, Hill told Fox Business that the Senate vote is now expected to take place on September 15 after an earlier delay that kept Congress from acting before its August recess.

Hill also pointed to the ethics provision as the remaining significant issue, arguing the legislation would place officials under a regulatory framework overseen by U.S. commodity, securities, and banking regulators.

The Clarity Act, first introduced last year, would lay out a formal framework dividing regulatory oversight and distinguishing which digital assets are securities, commodities, or stablecoins. Bitcoin Magazine noted the House passed the bill in July with 78 Democratic votes, and the measure was later stalled this year, including due to disputes involving stablecoin yield between banking industry groups and crypto firms, alongside a new ethics-focused draft that began circulating in July.

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