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A September 15, 2026, statement from House Financial Services Chairman French Hill and House Agriculture Chairman Glenn “GT” Thompson called for Congress to establish lasting rules for digital assets and said regulators should use their existing authority in the meantime. It did not say regulators’ crypto actions “fall short” of the CLARITY Act. The phrase in the supplied headline is not verified by that statement.
What Hill and Thompson said
The House committee’s September 15, 2026, joint statement followed the Senate’s failure to invoke cloture on the CLARITY Act. Hill and Thompson argued that Congress should enact a lasting statutory framework for digital assets. They also said they would work with federal regulators as those agencies use their existing authority to develop rules and issue guidance while Congress considers legislation.
The chairmen wrote: “Only Congress can provide the lasting legal certainty that consumers and businesses need to participate in these markets with confidence and necessary protections.” That is a call for legislation alongside interim regulatory work—not a claim that any particular regulator action is inadequate or falls short of the bill.
Did Hill say regulators’ actions “fall short”?
That wording does not appear in the located September 15 joint statement. The available committee record does not establish the originating source for the headline’s phrase or identify which regulator actions it might refer to. It should not be treated as a verified quotation or paraphrase of Hill on the basis of that statement.
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Where the CLARITY Act stood
The House Financial Services Committee described July 17, 2026, as the one-year anniversary of the House’s bipartisan passage of H.R. 3633, the Digital Asset Market Clarity Act. The September 15 statement recorded a Senate cloture setback. These committee materials describe a bill still facing Senate action; they do not establish that it became law.
What the bill could change, according to hearing participants
At a July 17, 2026, field hearing, committee members and industry witnesses described the proposal as a way to allocate responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The hearing discussion also covered registration, protection of customer assets, recordkeeping, and anti-money-laundering obligations for intermediaries. These were descriptions and arguments about proposed legislation, not a neutral finding about its effects or a statement of requirements already in force.
Sarah Aberg, chief legal officer at Nova Labs, told the committee: “The CLARITY Act does not ask for deregulation. It asks for the right regulation, applied by the right regulator, under clear rules that market participants can understand and follow.” Jason Somensatto, director of policy at Coin Center, said: “Ultimately, regulatory clarity means the imposition of rules that identify who is responsible for what, which risks they create, and which regulator has authority to supervise those risks.” Both are stakeholder views recorded in the committee’s July 17 hearing release, rather than official findings on the bill’s merits.
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Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →The hearing and leadership statements reflect a central policy dispute: supporters emphasize a statutory division of oversight and clearer rules, while debate also concerns the protections and constraints such a framework would provide. The committee’s hearing record is the source for the proposed framework discussed by participants; it should not be read as evidence that those proposals are current law.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why the bill’s ethics provisions are also disputed
On September 17, 2026, House Financial Services Ranking Member Maxine Waters offered a different criticism: she argued that the bill failed to advance because it did not sufficiently restrict President Trump’s crypto activities. That is Waters’ stated interpretation of the setback, not a neutral account of all the reasons for the Senate outcome. Her statement is available from the committee minority at this release.
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