Hill Predicts CLARITY Act Passage Before November Midterms

U.S. Rep. French Hill, the Republican chair of the House Financial Services Committee, believes the CLARITY Act can clear Congress before the November midterm elections. The Senate is set to hold a cloture vote on September 15 at 2:15 p.m. ET. This procedural vote represents a significant hurdle, requiring 60 Senate votes to advance the legislation, which is currently controlled by Republicans with only 53 seats.

Hill pointed to the CLARITY Act's previous bipartisan backing in the House as evidence that lawmakers can reach an agreement. The bill was passed in the House last summer with 78 Democratic votes, but Congress faces a tight legislative calendar ahead of the November elections.

The CLARITY Act would expand the U.S. regulatory framework for cryptocurrencies and blockchain-based financial markets, following the GENIUS Act's establishment of federal rules for payment stablecoins. Hill emphasized that the final outcome will ultimately depend on whether supporters can secure enough votes.