SEC Eyes Cryptocurrency Rules as CLARITY Bill Hits Snags
The US Securities and Exchange Commission (SEC) is planning to consider tailored rules for cryptocurrencies after Congress failed to advance the CLARITY Act. The SEC scheduled an open meeting on Friday to discuss a framework for crypto investment contracts, which could signal a more active regulatory approach.
Chair Paul Atkins previously indicated that the agency would develop digital asset rules if lawmakers stalled the CLARITY bill, and it appears that's exactly what's happening now.
The SEC must determine how securities laws can support new crypto rules, but this could limit measures without congressional approval. Meanwhile, Senate Majority Leader John Thune filed a cloture motion for the CLARITY bill to return on September 14, giving it a path forward despite hurdles.