Home›Crypto›Regulation›Hill says SEC and CFTC crypto rules fall short without…

Hill says SEC and CFTC crypto rules fall short without new legislation

The House Financial Services chair argued that only a permanent law change can provide enough clarity after the Clarity Act stalled in the Senate.

Reported · Written up by our desk · Regulation

House Financial Services Committee chair Rep. French Hill said the SEC and CFTC have taken steps to provide regulatory definition for digital assets, but that their actions do not replace the need for a legislative market-structure solution.

Hill, speaking to Fox Business on Wednesday, credited SEC Chairman Paul Atkins and CFTC Chairman Mike Selig with using regulatory power and exemptive relief to create a more functional system for crypto in the U.S.

He pointed to legislative efforts including his authorship of FIT21 in the previous Congress and the Clarity Act in this one, noting that the Clarity Act stalled in the Senate and would have set rules of the road for much of the crypto market.

More like this

Sources