US SEC Chair Supports Clarity Act; Crypto Regulatory Agenda to Advance Despite Bill Stalling

TechFlow reports that on September 15, according to CoinDesk, SEC Chair Paul Atkins stated at a Solana Policy Institute event that Congress should advance the Digital Asset Market Clarity Act (Clarity Act) as soon as possible and submit it to the President for signature. He also emphasized that regardless of whether the bill passes, the SEC will continue to advance its crypto regulatory agenda.

Atkins stated that under the Project Crypto framework, the SEC will prioritize three regulatory initiatives: digital asset issuance rules, modernizing transfer agent rules to incorporate blockchain into digital ownership ledgers, and clarifying digital asset custody requirements for investment advisers and regulated funds.

Currently, the Clarity Act still faces resistance ahead of a procedural vote in the Senate. Multiple banking organizations are calling for tighter restrictions on stablecoin interest and rewards, while several state attorneys general have voiced concerns that the legislation could undermine state-level enforcement capabilities against cryptocurrency fraud.