Arkansas Congressman French Hill, the original House sponsor of the CLARITY Act and chair of the House Financial Services Committee, said he believes Senate Majority Leader John Thune could have enough votes to pass the bill when it comes up for a procedural vote on September 15 at 3 p.m.
Where Things Stand
The House already passed its version of the CLARITY Act last summer, picking up support from 78 Democrats along the way. Since then, Hill said, members of the Senate Agriculture and Senate Banking Committees have spent the past year working to close the gap between the two parties.
“I agree with Chairman Atkins of the SEC that passing clarity is critical. We now have the Genius Act for dollar back payment stable coins that’s in implementation. We passed that last summer. We passed the Clarity Act in the House last summer with 78 Democratic votes. It’s now time for the Senate to join us and pass the Clarity Act,” he said.
One issue remains the biggest issue as of now. An ethics provision addressing potential conflicts of interest tied to crypto ventures. Hill’s argument for resolving it is simple. Pass the bill, he says, and every crypto business, no matter whose name is attached to it, falls under full regulatory scrutiny from US commodity, securities and banking regulators, rather than operating out of murkier jurisdictions overseas.
A Packed Calendar Waiting on the Other Side
Hill also weighed in on growing concern that Congress is heading toward a chaotic lame-duck session after the midterms. He said the House has already done its part, all 12 appropriations bills have moved through Tom Cole’s committee, a FISA Section 702 fix is ready, a farm bill has passed, and more than 600 House-approved measures are currently sitting in the Senate.
His hope is that senators use their final three weeks in September to actually work through the backlog, CLARITY Act included, alongside the National Defense Authorization Bill and fiscal year 2027 funding.
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