The Chairman of the United States House of Representatives stated that the CLARITY Act may address regulatory issues with the GENIUS Act

On March 14th, French Hill, Chairman of the House Financial Services Committee, stated that the CLARITY Act may address unresolved issues in the GENIUS Act. In an interview with Fox Business, Hill mentioned the banking industry's concerns about the proposed regulatory framework, particularly the future regulatory approach for cryptocurrency companies. He pointed out that the House of Representatives passed the CLARITY Act last summer with bipartisan support, with 78 Democratic lawmakers voting in favor. The bill aims to clarify the operation of stablecoins and other digital assets in the US financial market. Hill also mentioned that the two parties have reached a consensus that stablecoins should not pay benefits to holders, which is also a core issue discussed in the GENIUS Act.