GOP’s French Hill: Crypto Bill Headed To Trump’s Desk ‘Very Soon’

• House Financial Services Chairman French Hill said that Republicans viewed the CLARITY Act as a top legislative priority.
• He expects that President Trump will sign the market structure bill soon.
• He also said that stablecoin legislation should not move forward on its own and must be paired with broader rules governing the crypto market structure.

As US lawmakers race to deliver long-promised regulatory clarity to the crypto industry, a Republican lawmaker compared stablecoins to cell phones without towers, arguing stablecoins cannot be regulated in isolation. The push comes as Trump reiterates plans to sign the legislation "very soon."
House Financial Services Chairman French Hill said on Thursday that Republicans consider the CLARITY Act a top priority, and that President Donald Trump will sign the crypto market structure bill “very soon."

Speaking in a Fox Business Interview shared by the CFTC on X, Hill said the legislation is “really an important priority, not only for President Trump, but for Republicans in the House,” noting that Grand Old Party (GOP) lawmakers have worked on crypto market structure legislation for four years.

Hill also added that Republicans do not support passing stablecoin legislation on its own. “You cannot pass a bill just for dollar-backed stablecoins… without [a] market structure,” he said, comparing the approach to “authorizing cell phones [without] cell towers.”

Hill added that Republicans are now working with Senate lawmakers to refine the bill, so that the “digital asset community and the traditional finance community can get support, and get [the bill] on the President's desk.”

Hill’s comments followed remarks from President Trump earlier this week at the World Economic Forum in Davos. Trump said he plans to sign crypto market structure legislation “very soon,” reinforcing that the bill is a near-term priority.

Industry Leaders Warn Against Rushing ‘A Bad Bill’

Crypto industry leaders featured in the Fox Business segment offered more cautious views. Coinbase (COIN) CEO Brian Armstrong said lawmakers should prioritize getting the framework right over speed, warning that “it’s better to have no bill than a bad bill.” Armstrong added that poorly designed legislation could hinder innovation rather than support it.

Ohio Senator Bernie Moreno, also speaking in the segment, said companies like Coinbase must continue to innovate or risk being left behind, signaling that regulatory clarity alone will not guarantee long-term competitiveness.

Broader Legislative Context

The CLARITY Act is designed to establish a federal framework for digital asset regulation, including defining which assets fall under the jurisdiction of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Republicans argue the bill would give the U.S. a clearer rulebook for crypto markets, even as debates continue over consumer protections and regulatory scope.

The market structure bill was expected to advance earlier this month, but it has been rescheduled for January 27. However, Paul Atkins, SEC Chairman, said that he would be joining CFTC Chairman, Mike Selig, next week for a joint agency event to discuss harmonization between the SEC and CFTC. 

The Senate Agriculture Committee is separately working on its own crypto market structure discussion draft, which, unlike the CLARITY Act, takes a narrower approach to market structure, with several sections, like consumer-facing protections, subject to further negotiations. 

Read also: From Davos To DeFi: Blackrock Backs Ethereum As Tokenization Infrastructure

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