Rep. French Hill, chair of the House Financial Services Committee, told CoinDesk that after stablecoins and market structure, tokenization is the committee's next major agenda. Hill expects the Clarity Act to secure bipartisan consensus, noting that the House version received 78 Democratic votes last year. He said tokenization of assets like common stock changes systems, not laws, and that hearings aim to raise member awareness. The committee is also exploring tokenization of commercial bank deposits, though not imminent. Hill highlighted the need for interoperability and compliance in tokenized markets. On taxes, a bipartisan bill was reintroduced. Hill acknowledged the crypto industry's political engagement ahead of the 2026 elections, stating it is bipartisan and supports pro-innovation candidates. Successful passage of GENIUS and Clarity Acts would trigger a 12-month joint rulemaking process between CFTC and SEC.

Key facts

• Tokenization is the next major focus after stablecoins and market structure.
• Hill expects the Clarity Act to achieve bipartisan consensus in the Senate.
• Tokenization of assets changes systems, not underlying securities laws.
• Committee exploring tokenization of commercial bank deposits.
• Successful crypto bills would trigger joint CFTC-SEC rulemaking.