Crypto Urgency: Rep. French Hill Calls on Senate After White House Report

Following the release of a high-profile White House report on digital asset risks and regulation, Rep. French Hill, Chairman of the House Financial Services Subcommittee on Digital Assets, is urging the U.S. Senate to act swiftly and pass long-awaited crypto market legislation.

Hill’s push comes amid growing concern that regulatory uncertainty is stifling innovation in the U.S. crypto industry while allowing bad actors to exploit gaps in oversight.

A Call for Immediate Action

In a statement issued shortly after the White House report was released, Rep. Hill said:

“The time for debate is over. We now have bipartisan agreement that crypto markets need clear rules of the road. I call on the Senate to prioritize and pass comprehensive digital asset legislation before year-end.”

Hill emphasized that without legislative action, the U.S. risks falling behind other nations like the EU, UAE, and Singapore, which have already enacted crypto frameworks.

Key Takeaways from the White House Report

The White House report, prepared by the Financial Stability Oversight Council (FSOC), highlighted several concerns, including:

• Lack of regulatory clarity for stablecoins and digital commodities
• Increased risks of fraud, money laundering, and market manipulation
• The need for a unified federal approach to digital asset oversight

The report recommends Congress enact new laws to clarify the roles of the SEC and CFTC, and to establish protections for investors and consumers.

House Has Acted, Now It’s the Senate’s Turn

Rep. Hill noted that the House of Representatives has already passed two major crypto bills in 2025—the Digital Asset Market Structure Act and the Stablecoin Innovation and Consumer Protection Act. Both aim to provide clear guidelines for crypto exchanges, stablecoin issuers, and digital asset custody.

However, the Senate has yet to vote on the legislation, and Hill warns that continued inaction could drive crypto companies and capital overseas.

Industry Reacts

Crypto industry leaders have welcomed Hill’s push. A spokesperson for the Blockchain Association stated:

“Regulatory clarity is essential. We commend Chairman Hill for his leadership and urge the Senate to act in the interest of innovation, jobs, and consumer protection.”

Meanwhile, critics argue that Congress must also ensure robust safeguards against systemic risks and illicit finance.

With mounting pressure from the White House, House lawmakers, and the crypto industry, all eyes are on the Senate. The next few months could prove decisive for the future of crypto regulation in the U.S.—and for America’s position in the global digital economy.