In brief
- Rep. French Hill, who chairs the House Financial Services Committee, told Fox Business that the SEC and CFTC’s crypto rulemaking “fall[s] short” of what’s needed: a legislative solution.
- He credited SEC Chair Paul Atkins and CFTC acting Chair Mike Selig for using exemptive relief to define digital assets, but argued agency rules are fragile compared with a durable statute.
- His stance cuts against the post-collapse narrative of crypto leaning on regulators rather than Congress.
The regulators may be busy on crypto, but they can’t finish the job. That was the message from Rep. French Hill, who argued this week that the flurry of crypto rulemaking from the SEC and CFTC is no substitute for the market-structure law that stalled in…
