U.S. House of Representatives urges Senate to vote on CLARITY Act in July to address ethics issues
Rep. French Hill wants a deadline.
A year after the House passed the Digital Asset Marketplace CLARITY Act, the Arkansas Republican who chairs the House Financial Services Committee urged Senate leaders to hold a floor vote before the August recess in a Fox Business interview with anchor Maria Bartiromo.
“I encouraged Senate leadership to discuss this issue,” Hill said. “I think setting a meeting date here in July will allow us to have a final meeting and final discussion. We need to set a deadline in Congress so that people can move and find agreement.”
Hill thanked Sens. Kirsten Gillibrand, Cynthia Lummis, John Boozman and Tim Scott for their work to reach an agreement and pointed to the 78 Democrats who supported the House bill a year ago.
Hill’s central argument is that the CLARITY Act would solve, rather than deepen, the ethical problems currently used to prevent it.
Critics point to President Trump’s cryptocurrency ventures, including licensing the $TRUMP meme coin and selling World Liberty Financial tokens. That comes from a July 1 financial disclosure showing 2025 revenues of about $1.4 billion.
Hill argues that the market framework provides the transparency critics want.
“If we passed the CLARITY Act last summer, a lot of the things that people are concerned about — meme coin issuances, co-investments, using exchanges, investing in exchanges — would come under a market framework of regulation clearly, no pun intended, and provide a lot of transparency for people who are concerned about the Trump family’s investments,” he said.
The Clarity Act is paired with the GENIUS Act.
Hill framed the bill as the missing half of a paired system with the GENIUS Act, a stablecoin law enacted last year.
“Stablecoins are like mobile phones that are not connected to the mobile network,” he said. “The market framework is actually the network we need.” To keep up the pressure, Hill plans a field hearing in New York next week led by Rep. Bryan Steil, chairman of the Digital Assets Subcommittee, to make his case about market structure.
His push garnered support from two other voices at the same Bartiromo appearance. CFTC Chairman Michael Selig warned that “there’s a mission going on here that goes way beyond what’s really important” and that the stalled bill leaves regulation up to regulators.
Coinbase Vice Chairman Ryan VanGrack, a former SEC official, described the bill as sitting on the “one-yard line” and said senators from both parties are “working around the clock to get it across the finish line.”
The Senate returns July 13, about three weeks before its recess. Prediction Market Polymarket Price Clarity Act 2026 passage rate fell to about 39% from 74% the previous month.
