SEC Chair Backs Landmark Crypto Bill

SEC Chair Paul Atkins has expressed his support for the CLARITY Act, a landmark crypto market structure bill. He believes that Congress will pass the legislation and is providing technical assistance to help advance it.

The CLARITY Act aims to establish a clearer framework for U.S. crypto markets and provide a regulatory system that matches the pace of innovation from companies building new financial technologies. Atkins stated, 'I am committed to supporting Congress in advancing the CLARITY Act, including providing technical assistance.'

He also mentioned during a CNBC interview on July 27 that the SEC is prepared to develop related rules if congressional action does not move forward. The CLARITY Act has already passed the House and is now moving through the Senate.