CLARITY Act Poised for Senate Vote as SEC Seeks Clearer Digital Asset Rules

SEC Chair Paul Atkins expects the CLARITY Act to advance through the Senate in September and ultimately reach President Trump's desk for signature. The bill establishes a federal framework dividing oversight of digital assets between the SEC and the Commodity Futures Trading Commission.

The Senate is set to hold a procedural cloture vote on September 15, requiring 60 votes to move the bill to formal debate. Atkins framed the push as an effort to undo damage from the prior administration, stating, 'I think this is an important step to try to reassure, to bring back on to the United States shore, innovators whom we have over the past administration’s four year term, chased offshore, frankly, for them to develop their products and raise money abroad.'

The SEC has already moved ahead with its own regulations. On August 25, the agency sent a crypto custody proposal to the White House Office of Management and Budget for review.