[Chairman of the U.S. House Financial Services Committee: Regulatory Actions Are Insufficient to Provide Long-Term Stability for the Crypto Industry] According to a report by Golden Finance, French Hill, Chairman of the U.S. House Financial Services Committee, stated that while the SEC and CFTC have taken steps to advance crypto regulation, these actions fall short of the long-term stability that congressional legislation could 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. However, Hill believes that permanent legislative changes are still needed to ensure the U.S. maintains its leadership in the fields of digital assets and blockchain technology. Currently, the two regulatory agencies have a combined total of seven vacant commissioner seats. Following Hester Peirce's resignation announcement last week, the SEC is left with only Chairman Paul Atkins and Commissioner Mark Uyeda; at the CFTC, Chairman Michael Selig is the sole remaining commissioner.