SEC Predicts Clarity Act Will Clear Senate Vote This Month

SEC Chairman Paul Atkins has expressed his expectation that the long-awaited Clarity Act will pass in the Senate this month, paving the way for the US to become a hub for cryptocurrency.

In an interview with Fox Business, Atkins confirmed that the bill is set to be voted on September 15 and predicted it would ultimately be signed into law by the President.

The SEC has been pushing for related rules to support the development of the crypto industry, according to Atkins, who stated, 'We are changing past practices to update the rules to adapt to the blockchain and cryptocurrency era.'

The Clarity Act aims to establish a regulatory framework for distinguishing between digital assets that are securities, commodities, or stablecoins.