SEC Chair Paul Atkins signals readiness to establish crypto rules unilaterally if Congress does not pass the CLARITY Act.
Regulation & Gov ·
The SEC is prepared to establish crypto market regulations independently if Congress does not enact the CLARITY Act, according to SEC Chair Paul Atkins. He noted that while legislative action would create a more stable regulatory foundation resistant to shifts across administrations, the agency possesses sufficient authority to move forward unilaterally. The CLARITY Act advanced from the Senate Banking Committee with a 15-9 vote on May 14 but remains without a full Senate floor vote.
Atkins' statement reflects a dual-track approach: pursuing congressional action while signaling the SEC's willingness to act within existing statutory authority should lawmakers fail to pass comprehensive crypto legislation. The preference for legislative solutions underscores concerns about the longevity of agency-only rulemaking, which could be overturned or modified by future administrations.
The timeline for full Senate consideration of the CLARITY Act and whether Congress will ultimately vote on the measure remain uncertain. The practical scope and specifics of rules the SEC might unilaterally establish have not been detailed.