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French Crypto Legislation Gains Momentum as Hill Calls for Senate Action

House Committee on Financial Services Chairman French Hill (R-AR) has urged the Senate to expedite the passage of essential digital asset legislation following the release of a pivotal report by the White House.

In a statement made on July 30, Hill emphasized the importance of advancing crypto policy to U.S. President Donald Trump.

The Chairman expressed optimism regarding the CLARITY Act's strong bipartisan backing, which, paired with the recently enacted GENIUS Act, lays the foundation for critical market structure legislation.

Hill's appeal follows the unveiling of the President’s landmark crypto report, which aims to position the U.S. as a leader in the global crypto economy.

The report advocates for regulatory frameworks that support both innovation and security, promoting decentralized finance (DeFi) as a key component of the American financial landscape.

Historically, the communication between parties regarding crypto has been polarized, with Republicans designating July 14 as "Crypto Week" in contrast to Democratic responses.

The recent collaboration signals a potential crossing of party lines aimed at fostering a regulatory environment conducive to digital asset growth.

In Hill’s view, immediate action from the Senate is essential to present a united front and deliver necessary regulations to the President's desk.

As discussions proceed, the future of crypto regulation in the U.S. appears to hinge on bipartisan cooperation.

The outcome of this legislative push could significantly influence the direction of both domestic and international crypto markets.