SEC Chair Atkins Backs CLARITY Act but Promises Reform Will Proceed

Paul Atkins, chair of the US SEC, has expressed his support for the CLARITY Act and emphasized that the agency will pursue digital-asset regulatory reform regardless of its passage. The bill aims to clarify the regulatory framework for digital assets and ensure consistency across different state laws.

Atkins stated at a Solana Policy Institute event in Washington on September 14 that congressional legislation is not a precondition for the SEC's policy push. He emphasized that the agency will pursue policies for American investors and technology innovators through three pillars: an overhaul of digital-asset custody rules, advancements in Regulation Crypto Assets to reduce regulatory uncertainty around fundraising in the US using digital assets, and updates to transfer-agent rules to allow blockchain to be used as a digital ownership ledger.

The SEC is currently overhauling its digital-asset regulatory framework under Project Crypto. Atkins described those efforts as essential for building a regime covering the issuance, transfer, and custody of digital assets. He warned that the agency must not be the last to recognize the changes in the world.