SEC Chair: If the Clarity Act Is Not Passed, SEC Will Create Its Own Crypto Rules
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SEC Chair: If the Clarity Act Is Not Passed, SEC Will Create Its Own Crypto Rules
According to Decrypt, SEC Chairman Paul Atkins stated that if Congress fails to pass the Clarity Act, the SEC is "ready at any time" to issue cryptocurrency market rules independently. Atkins emphasized that legislation is the only way to prevent the regulatory framework from shifting with changing administrations, and expressed continued optimism regarding the bill's ultimate passage. Currently, the Clarity Act passed the House of Representatives last July with a 294-134 vote, and passed the Senate Banking Committee this May with a 15-9 vote, but has not yet undergone a full Senate vote (requiring 60 votes to pass). Senate Majority Leader Thune recently hinted that the bill may not be voted on before the August recess. If passed, the bill would transfer regulatory authority over the spot market for most tokens to the CFTC, removing them from SEC jurisdiction. The SEC has made advance arrangements; the "Project Crypto" regulatory scheme advanced by Atkins has been included in the 2026 agenda, covering token registration exemptions, safe harbors, and broker-dealer custody, and is regarded as a transitional plan for the Clarity Act.
Navigating Web3 tides with focused insightsTechFlow news, July 30, according to Decrypt, SEC Chair Paul Atkins stated that if Congress fails to pass the "CLARITY Act," the SEC is "ready at any time" to issue cryptocurrency market rules on its own. Atkins emphasized that legislation is the only way to prevent the regulatory framework from changing with successive administrations, and expressed continued optimism about the bill's ultimate passage.
Currently, the "CLARITY Act" passed the House of Representatives with a vote of 294-134 last July, and passed the Senate Banking Committee with a vote of 15-9 this May, but has not yet undergone a Senate floor vote (requiring 60 votes to pass). Senate Majority Leader Thune recently hinted that the bill may not be voted on before the August recess.
If passed, the bill would transfer regulatory authority over the spot market for most tokens to the CFTC, removing them from SEC jurisdiction. The SEC has planned ahead; the "Project Crypto" regulatory plan promoted by Atkins has been included in the 2026 agenda, covering token registration exemptions, safe harbors, and broker-dealer custody, and is seen as a transitional plan for the "CLARITY Act."
