SEC Backs CLARITY Act Ahead of Crucial Crypto Regulation Vote

SEC Chair Paul Atkins is backing the CLARITY Act as the Senate prepares to vote on crypto regulation. The vote, scheduled for September 15, could clear the way for debate and final action.

The proposed legislation aims to establish clearer responsibilities for regulatory bodies, including registration requirements for crypto companies and anti-money laundering obligations.

Despite delays and pressure from approaching elections, Atkins expects lawmakers to advance the bill this month. The SEC is also preparing rules that could work alongside the legislation, collecting comments on exemptions covering fundraising and digital asset activities.