SEC Chair Paul Atkins expressed optimism that the CLARITY Act, a crypto market structure bill, will advance in the Senate on September 15. He hopes for congressional passage this year, though some industry figures and prediction markets remain cautious.
The CLARITY Act's passage would provide a defined regulatory framework for the cryptocurrency industry in the U.S., impacting how digital assets are overseen by the SEC and CFTC, and establishing registration and compliance rules for crypto businesses. Its failure could lead to continued regulatory uncertainty or reliance on existing, potentially less adaptable, securities laws.
SEC Chair Paul Atkins expressed optimism that the Senate will advance the CLARITY Act, a significant piece of legislation aimed at structuring the cryptocurrency market, during a scheduled vote on September 15. Atkins hopes the bill will move forward within two weeks and eventually reach President Donald Trump for signature.
The proposed legislation seeks to clarify the oversight roles of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarding digital assets, and would establish registration requirements for crypto businesses along with anti-money laundering protocols.
Despite Atkins' positive outlook, some industry figures, like SALT CEO John Darsie, are cautious about the bill's prospects, citing the approaching midterm elections and a crowded political calendar. Prediction markets also reflect this uncertainty, with Kalshi estimating a 49% chance of the CLARITY Act becoming law this year.
The bill has previously passed the House and advanced through the Senate Banking Committee, but an earlier attempt to bring it to the full Senate floor stalled. The SEC is also preparing its regulatory framework to complement the CLARITY Act, with Chair Atkins indicating the agency could pursue regulatory actions under existing securities laws if legislative efforts falter, though he stressed the need for a statutory foundation for long-term sustainability.
In parallel, the SEC is continuing to advance other crypto-related initiatives, including a potential tokenization innovation exemption and proposed updates to transfer-agent rules to accommodate blockchain technology.