French Hill: Hope the Lament Duck Conference passes the CLARITY Act after the election

French Hill, Chairman of the U.S. House Financial Services Committee, stated that he hopes to push for the approval of the CLARITY Act during the lame duck session of Congress after next month's midterm elections, in order to establish regulatory certainty in the fields of digital assets and blockchain technology. French Hill has advocated for the FIT21 Act and pointed out that the existing regulatory powers of the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) are insufficient to replace legislative proposals. Last month, the CLARITY Act received a vote of 49 in favor and 50 against in the Senate. Troutman Pepper Locke stated that in the future, the government can adjust the interpretation of rules and enforcement priorities. (Source: Bitcoin.com News)