Congressman French Hill said banks could be highly competitive under clearer digital-asset rules, while Sen. Cynthia Lummis warned failure to pass the bill this Congress could push digital finance to other jurisdictions.
Congressman French Hill and Sen. Cynthia Lummis voiced support for the Clarity Act as Congress debates how to set clearer U.S. rules for digital assets. Hill said, "We need this bill. We need market structure," and added that banks would be "extremely competitive in this industry." Lummis warned that failing to pass the measure in this Congress would amount to "handing the future of digital finance to jurisdictions that do not share our values," framing the bill as both a regulatory and competitive issue for the United States.