U.S. Congressman French Hill has stressed the importance of bipartisan support for getting the long-awaited crypto market structure bill, the Clarity Act, over the line before the midterm elections.

Speaking to Fox Business on Thursday, the lawmaker said Democrats and Republicans have come to "narrow their differences" in getting the bill drafted.

Pro-crypto lawmakers had hoped the Clarity Act would pass before Congress departed for its August recess. After a delay, a vote is now scheduled for September 15.

WATCH: Chairman @RepFrenchHill on the importance of passing the Clarity Act: "…we passed the CLARITY Act in the House last summer with 78 Democratic votes. It is time for the Senate to join us and pass the CLARITY Act. Members on both sides of the aisle in the Senate have… pic.twitter.com/GMva1XOTDK — Financial Services GOP (@FinancialCmte) September 3, 2026

"Can Democrats work with Republicans and make sure America leads the world in distributed ledger technology and financial services?" Hill said.

"This one remaining significant issue is the ethics provision, and that is best solved by passing the legislation because everybody — no matter what family they belong to, the Trumps or not — would then be under a regulatory framework fully scrutinized by the United States government in commodity and securities and banking regulators," he added.

The Clarity Act was first introduced by Hill, the House Financial Services Chairman, last year. Crypto companies have long called for clear regulations for the industry, and the bill drafts a framework to formally divide oversight between regulators, distinguishing which digital assets are securities, commodities, or stablecoins. If enacted, it would give the industry its clearest federal rules yet on a question that has lingered for years — which regulator, the SEC or the CFTC, has authority over a given digital asset — an ambiguity that has underpinned numerous enforcement actions and legal disputes.

The House of Representatives passed the bill last July, but it has been stalled this year, mostly because the banking lobby clashed with crypto companies over paying customers stablecoin yield.

A new draft tackling the issue of ethics started circulating in July. It bans government officials from promoting or making money from crypto — something Democrats have criticized the Trump family for doing.

A group of Democrats said the bill fell short and wanted amendments. Some were accused of deliberately holding it back by Republicans like Cynthia Lummis.

Some have praised the bipartisan work that has already gone into the bill, notably Coinbase, America's biggest crypto exchange. The company's Chief Policy Officer, Faryar Shirzad, said in July that while some Democratic lawmakers were holding back the long-awaited legislation, younger Democrats wanted to pass it.

President Donald Trump said in August that in order for the U.S. to remain the "undisputed leader in Bitcoin and crypto," lawmakers had to pass the "very, very powerful legislation."

The September 15 vote gives lawmakers a narrow window to act before the midterm elections, when control of Congress is at stake and the legislative calendar typically slows.

This post first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.