SEC Prepares to Regulate Crypto Without Congressional Approval

SEC Chair Paul Atkins expressed optimism that Congress will pass the Clarity Act, which aims to provide a more durable statutory framework for crypto regulation. If Congress stalls, however, Atkins said the SEC is prepared to issue its own rules on crypto market regulation.

The Clarity Act has already passed the Senate Banking Committee and awaits a full Senate vote. Meanwhile, Project Crypto has built out a full Regulation Crypto rulemaking package, signaling regulatory clarity that could have a significant impact on various aspects of the crypto ecosystem, including DeFi, DEXs, CEXs, token launches, security, and adoption.

Atkins emphasized that statute remains the best way to future-proof crypto regulation, but the agency is ready to issue its own rules if needed. He added that his team is doing everything it can to assist lawmakers with technical questions along the way.