U.S. House Financial Services Committee Chair: The Clarity Act is anticipated to bridge regulatory gaps left by the Genius Act

French Hill emphasized the requirement for the CLARITY Act to fill regulatory gaps. The act passed with bipartisan support and seeks to establish clear regulations for stablecoins in the U.S. Financial market.

While a consensus exists that stablecoins should not yield returns to holders, concerns about how crypto companies will be regulated compared to traditional banks still remain.