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Hill: Federal 'Clarity' Needed for Digital Assets; Shutdown Is Slowing Legislation
Summary
Rep. French Hill praised New York's digital-asset initiatives and said federal legislation — the Clarity Act — is needed to create consistent national rules; he said the government shutdown is delaying the Senate's work.
Rep. French Hill urged passage of federal rules to govern digital assets and blockchain, saying state-level innovation in New York should be complemented by a consistent national framework.
Referencing New York City's recent executive order to create an office of digital assets and blockchain, Hill said state-level action has fostered early market development but that common federal rules are needed. "We want to extend that across the country with common federal rules," he said.
Hill said President Trump signed the "Genius Act" into law in July and said the House nearly passed the Clarity Act with close to 300 votes. He described both measures as steps toward providing a market framework for stablecoins and digital-asset providers and said the shutdown has delayed bipartisan work in Senate committees.
"Last week, I made some calls in the Senate ... and I found both Democrats and Republicans working constructively to get to yes on clarity, but we're being delayed by this shutdown," Hill said. He urged listeners to contact Senate leadership to encourage the Senate to complete its work on digital-asset legislation.
The interview did not provide legislative text or a timetable for Senate action; Hill described committee-level conversations and said the shutdown is a material impediment to advancing the measures he described.
