[Chairman of the U.S. House Financial Services Committee: SEC and CFTC's crypto regulatory actions remain insufficient, hopes to pass the CLARITY Act after the midterm elections] BlockBeats News, October 8, French Hill, Chairman of the U.S. House Financial Services Committee, stated that while the SEC and CFTC have taken measures to advance crypto regulation, these actions still fall short of the long-term stability that congressional legislation can provide. After the Senate failed to pass the Digital Asset Market Clarity Act (CLARITY) last month, the two regulatory agencies proposed related rule-making plans. Hill believes permanent legal changes are still necessary to ensure the U.S. maintains its leadership in the fields of digital assets and blockchain technology. In an interview with Fox Business, Hill expressed hope that Congress could pass the CLARITY Act during the "lame-duck" session following the midterm elections. Between the conclusion of the November elections and the inauguration of the new Congress in 2027, the Senate has only 22 scheduled session days. The election results may influence lawmakers' voting positions on the bill. Currently, the two regulatory agencies have a combined total of seven vacant commissioner seats. Following Hester Peirce's resignation last week, the SEC is left with only Chairman Paul Atkins and Commissioner Mark Uyeda; CFTC Chairman Michael Selig is the sole remaining commissioner at the agency. [Original link]