Bipartisan Push for Clarity Act Ahead of September Vote

U.S. Rep. French Hill has expressed optimism that bipartisan negotiations will bring the Clarity Act to fruition ahead of its September 15 vote in the Senate.

The bill, which aims to assign oversight of digital assets between securities, commodities, and banking regulators, was passed by the House last July with 78 Democratic votes.

Hill emphasized the importance of bipartisan support, stating that 'we passed the CLARITY Act in the House last summer. It is time for the Senate to join us and pass the CLARITY Act.'

The Clarity Act drafts a framework to formally divide oversight between regulators, distinguishing which digital assets are securities, commodities or stablecoins.