Rep. French Hill, a member of the U.S. House Financial Services Committee, said crypto rules written by the Securities and Exchange Commission and the Commodity Futures Trading Commission cannot stand in for the broader CLARITY Act. Hill said the absence of a permanent legislative framework could leave the market in a prolonged state of instability and produce fragmented compliance standards. The update was carried by Techub News, citing Crypto Briefing. The remarks center on the limits of agency rulemaking in the absence of comprehensive legislation for the crypto sector in the United States.
Rep. French Hill, a member of the U.S. House Financial Services Committee, said crypto rules developed by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) cannot replace the comprehensive CLARITY Act.
Hill said the lack of a permanent legislative framework could keep the market unstable and lead to fragmented compliance standards.
The update was reported by Techub News, citing Crypto Briefing.
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