Chairman of the U.S. House Financial Services Committee: The Clarity Act may fill the regulatory gap left by the GENIUS Act.

French Hill, chairman of the House Financial Services Committee, stated that the CLARITY Act is expected to address some regulatory issues not covered by the GENIUS Act. In an interview, Hill noted that the banking industry remains concerned about the proposed crypto regulatory framework, particularly regarding the potential regulatory treatment of crypto companies. Hill pointed out that the House passed the CLARITY Act last summer with bipartisan support, including 78 Democratic votes. This bill is part of Washington's push to establish a regulatory system for digital assets, aiming to clarify how stablecoins and other digital assets operate in the U.S. financial market. Furthermore, policymakers are discussing whether crypto companies should be subject to the same level of regulation as banks. Hill stated that both parties have reached a consensus on a key principle: stablecoins should not pay returns to holders, an issue central to the discussions surrounding the GENIUS Act.