Chairman French Hill Demands Senate Action on Crypto Legislation After White House Report Drops
Crypto's regulatory moment arrives—again. With the White House report now public, Chairman French Hill turns up the heat on Senate gridlock.
Why it matters: Another day, another political tug-of-war over digital assets. But this time, Wall Street's watching—between sips of their $28 cold-pressed juices.
The push: Hill's not mincing words. The House Financial Services subcommittee chair wants legislation passed yesterday, framing crypto markets as America's next frontier—or its next embarrassing regulatory failure.
The backdrop: That White House report? Probably collecting dust alongside last year's 'urgent' infrastructure bills. But hey—DC moves at the speed of molasses until suddenly it doesn't.
Bottom line: When even career politicians start sounding like crypto Twitter, you know the pressure's real. Whether that translates to actual laws? Well, we've all seen how well Congress 'moves fast and breaks things.'
French Hill Urges Senators To Advance Crypto Market Structure Legislation
According to the Wednesday statement, Hill is pushing for members of the U.S. Senate to advance crypto policy to U.S. President Donald Trump’s desk.
“Now that the GENIUS Act is law and the CLARITY Act received overwhelming bipartisan support in the House, the Senate must expeditiously work to deliver such critical market structure legislation to President Trump’s desk,” Hill said.
“I’m pleased to see the Working Group’s strong support of the CLARITY Act and look forward to continued collaboration with my Senate colleagues and the TRUMP administration to make the President’s full vision a reality.”
White House Issues Key Digital Assets Report
Hill’s comments come just one day after the White House unveiled its landmark crypto report, “Strengthening American Leadership in Digital Financial Technology,” pursuant to Trump’s January 2025 executive order, which established a crypto working group.
The President’s Working Group on Digital Asset Markets released a report that provides a roadmap to USHER IN THE GOLDEN AGE OF CRYPTO
"Together, we will make the U.S. the crypto capital of the world!"
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The report lays bare the aforementioned working group’s vision for introducing crypto market clarity and creating balanced digital asset regulations stateside.
“By embracing and supporting the option of DeFi for investors, policymakers can help position the United States as a leader in the global crypto economy,” the report reads. “Encouraging the development of regulatory frameworks that balance innovation with security will pave the way for a robust financial future.”
Both the CLARITY Act and GENIUS Act received bipartisan support following months of political polarization between Democrats and Republicans over Trump’s ventures in the blockchain sector as a whole.
Republicans officially dubbed the week of July 14 as “Crypto Week,” while Ranking Member of the House Financial Services Committee Maxine Waters (D-CA) pushed back with her own “Anti-Crypto Corruption Week.”
