CFTC Chair Mike Selig Says CLARITY Act Is a ‘Must-Pass’ Crypto Bill
CFTC Chair Mike Selig backs the CLARITY Act as French Hill pushes for July Senate action on crypto market rules.
U.S. crypto policy returned to focus as officials renewed calls for the CLARITY Act. CFTC Chair Mike Selig said the bill is needed for clear digital asset rules.
Selig said innovators and market participants need certainty about crypto’s future in America. He described the bill as must-pass legislation for the country’s crypto sector.
House Financial Services Committee Chairman French Hill also urged Congress to move past current ethics disputes. He said those disputes should not delay wider crypto market rules.
Lawmakers are expected to visit New York next week for a crypto market structure hearing. The trip comes as pressure builds for Senate action in July.
CLARITY Act Gains Support From CFTC Chair
Selig said the CLARITY Act would provide clearer rules for digital asset markets. He said stronger rules are needed for companies building crypto products in the United States. His comments placed the bill back at the center of policy talks.
Innovators and market participants deserve certainty when it comes to the future of crypto in America. The CLARITY Act provides comprehensive rules of the road that future-proof digital asset regulation.
This bill is must-pass legislation if the U.S. wants to remain the crypto… pic.twitter.com/m9aIw5WcNz
— Mike Selig (@ChairmanSelig) July 10, 2026
The bill aims to define how crypto markets should operate under federal law. It may also help clarify oversight for exchanges, token issuers, and trading platforms. Crypto firms have long asked for clearer rules from Washington.
Supporters say the bill could help keep crypto activity inside the United States. They argue that unclear rules have pushed some companies toward offshore markets. However, lawmakers still need agreement before the bill can advance.
French Hill Pushes Congress to Move Forward
French Hill said Congress should move beyond the ethics fight around crypto policy. He made the comments during an interview with Mornings with Maria. Hill said the current debate should not block market structure legislation.
🚨UPDATE: Chairman French Hill Says Congress Must “GET BEYOND” Ethics Fight — Pushes Clarity Act For JULY Senate Floor Date 🤯🇺🇸🔥
Today, @RepFrenchHill said in a @MorningsMaria interview that Congress MUST MOVE beyond the ethics battle now THREATENING to DELAY the Clarity Act.… https://t.co/Y0RH8PB2dE pic.twitter.com/XoGwT5xnVJ
— Diana (@InvestWithD) July 10, 2026
He said concerns about memecoins, co-investments, exchanges, and political crypto activity need clearer rules. In his view, passing the CLARITY Act could bring those issues under one framework. That approach would give regulators a clearer path for oversight.
Hill is also pushing Senate leadership to set a July floor date. A scheduled vote would keep the bill active during the summer session. For now, the timing depends on Senate action and further negotiations.
Read also: CLARITY Act Vote Puts XRP Commodity Status and Ripple Strategy in Focus
Crypto Market Hearing Adds Pressure
Lawmakers are preparing for a crypto market structure field hearing in New York. The hearing may allow industry and policy voices to discuss the bill. It also comes as both parties face pressure to address digital asset rules.
The CLARITY Act could affect how the SEC and CFTC share crypto oversight. That question matters for exchanges, brokers, developers, and token issuers. Clearer agency roles may also shape future compliance plans.
The bill remains one of the main crypto policy items before Congress. Selig and Hill both framed it as needed for market certainty. The next step is whether Senate leaders move the proposal forward in July.
