Rep. French Hill urged the Senate to vote on the CLARITY Act before the August recess, arguing the bill would establish a transparent crypto market framework that addresses ethics concerns surrounding President Trump’s digital asset ventures.
Rep. French Hill wants a deadline.
One year after the House passed the Digital Asset Market CLARITY Act, the Arkansas Republican who chairs the House Financial Services Committee used a Fox Business interview with anchor Maria Bartiromo to press Senate leaders for a floor vote before the August recess.
“I’ve encouraged Senate leadership to put it on the floor,” Hill said. “I think if you schedule a floor date here in the month of July, that will cause these final meetings, these final discussions to take place. You’ve got to have a deadline in Congress to get people to move and find consensus.”
Hill thanked Senators Kirsten Gillibrand, Cynthia Lummis, John Boozman and Tim Scott for working toward a deal, and pointed to the 78 Democrats who backed the House measure a year ago.
Hill’s central argument is that the CLARITY Act would resolve the ethics concerns now used to block it, rather than deepen them.
Critics point to President Trump’s crypto ventures, including $TRUMP meme coin licensing and World Liberty Financial token sales, which a July 1 financial disclosure tied to about $1.4 billion in 2025 income.
Hill contends a market framework offers the transparency those critics want.
“If we passed the CLARITY Act last summer, many of the things that people are expressing concern about — meme coin issuance, co-investment, use of exchange, investing in exchanges — all that would be under a market framework of regulation with clarity, no pun intended, and that would provide a lot of transparency to people that are concerned about the Trump family’s investments,” he said.
Clarity Act pairs with the GENIUS Act
Hill framed the bill as the missing half of a system that pairs it with the GENIUS Act, the stablecoin law enacted last year.
“Stablecoin is like a cell phone not connected to a cell phone network,” he said, “and the market framework is in fact that network that we need.” To keep the pressure on, Hill plans a field hearing in New York next week, led by digital assets subcommittee chair Rep. Bryan Steil, to make the case for a market structure.
His push drew support from two other voices in the same Bartiromo appearance. CFTC Chairman Michael Selig warned of “mission creep beyond what’s really critical here” and cautioned that a stalled bill leaves the rules to regulators.
Coinbase Vice Chair Ryan VanGrack, a former SEC official, described the measure as “on the one-yard line,” with senators from both parties “working around the clock to get this across the finish line.”
The Senate returns July 13 with about three weeks before recess. Prediction market Polymarket prices Clarity Act 2026 passage near 39%, a fall from the prior month’s 74%.
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