House Financial Services Committee Shifts Focus to Tokenization After Clarity Act

The House Financial Services Committee has identified tokenization of real-world assets as its next legislative focus after work on stablecoins and market structure, Chairman French Hill said last month. Hill told CoinDesk that the committee held a hearing on tokenization in late March to assess what authorities or rules the Securities and Exchange Commission and bank regulators might require.

He said the panel is evaluating whether legislation is necessary or whether changes can occur at the regulatory level. "Tokenization of an asset, such as a common stock, is really an exercise in changing systems," Hill said. "It's not changing the law.

Hill said the House version of the Clarity Act secured bipartisan support, including 78 Democratic votes. He noted that Senate negotiators have incorporated elements of the House bill and that both chambers have maintained communication during the process.

Hill said the committee is also monitoring tax regulation updates for digital assets, an area already under review by the House Ways and Means Committee. A bipartisan group reintroduced crypto-specific tax legislation earlier this month. He added that the digital assets industry has increased its political activity ahead of the 2026 elections, consistent with its involvement in the 2024 cycle.

Hill said the committee's work on digital assets dates back more than a decade under both Republican and Democratic leadership. The committee is scheduled to hold an oversight hearing with federal bank regulators on Thursday.