US Representatives Urge Senate to Vote on Clear Legislation in July, Addresses Ethics
The French Hill lawyer wants a deadline.
One year after the House passed the Digital Assets Market Clarification Act, the Arkansas Republican who chairs the House Finance Committee used a Fox Business interview with anchor Maria Bartiromo to pressure Senate leaders to vote it down before the August recess.
“I encouraged the Senate leadership to put it down,” Hill said. “I think if you organize a floor day here in the month of July, that will make these last meetings, these last negotiations possible. You have to have a deadline in Congress to get people moving and find a consensus.”
Hill thanked Senators Kirsten Gillibrand, Cynthia Lummis, John Boozman and Tim Scott for working on the deal, and pointed to the 78 Democrats who supported the House measure last year.
Hill’s main argument is that the CLARITY Act will solve the ethical concerns now used to block it, rather than deepening it.
Critics point to President Trump’s crypto ventures, including the license of the $ TRUMP meme and the sale of the World Liberty Financial token, whose financial disclosure on July 1 is tied to about $ 1.4 billion in 2025 income.
Hill argues against a market framework that gives visibility to those critics.
“If we passed the CLARITY Act last summer, a lot of the things that people expressed concern about – meme coin issuance, mutual investments, the use of exchanges, investing in exchanges – all of that would be under the framework of clear market rules, no pun intended, and that would provide a lot of clarity for people who are concerned about the Trump family’s investments,” he said.
The Clarity Act is compatible with the GENIUS Act
Hill framed the bill as part of a system that included the GENIUS Act, the stablecoin legislation enacted last year.
“Stablecoin is like a cell phone that’s not connected to a cell phone network,” he said, “and the market framework is actually the network we need.” To keep up the pressure, Hill is organizing a hearing in New York next week, led by the chairman of the digital goods subcommittee Rep. Bryan Steil, to highlight the issue of market structure.
His push received support from two other voices in the same vein as Bartiromo. CFTC Chairman Michael Selig warned that “the machines are getting beyond what’s really important here” and cautioned that the pending bill leaves regulations up to regulators.
Coinbase Vice Chairman Ryan VanGrack, a former SEC official, described the measure as “one yard line,” with senators from both parties “working around the clock to get this over the line.”
The Senate returns on July 13 almost three weeks before recess. The market for predicting Polymarket prices Clarity Act 2026 passes close to 39%, a decrease from 74% of the previous month.
