House GOP pushes for Senate approval of CLARITY Act

The House Financial Services Committee, which oversees banking, securities, and broader financial regulation, has called for Senate approval of the Digital Asset Market Structure Clarity (CLARITY) Act.

In a statement on X on Monday, the committee, led by Republican French Hill, emphasized that the legislation is critical for establishing a federal framework for digital asset markets and ensuring the US maintains its leadership in global digital finance.

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US House Majority Whip Tom Emmer also urged the Senate to advance two key pieces of legislation, including the CLARITY Act and the Anti-CBDC Surveillance State Act, following the passage of the GENIUS Act, which established federal regulations for dollar-backed stablecoins.

The Minnesota representative stated that clear regulations would protect consumers while preventing the adoption of authoritarian-style digital control systems similar to China’s CBDC model.