SEC Prepares to Set Crypto Rules Without Congressional Approval

U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins has stated that if Congress fails to pass the proposed CLARITY Act, the agency will establish rules for the cryptocurrency market using its existing authority.

The CLARITY Act aims to create a more stable regulatory framework for digital assets by providing clear guidelines for investors and companies. However, with no vote scheduled yet in the full Senate, Atkins emphasized that legislation would offer greater long-term certainty than relying solely on SEC rules.

Atkins noted that congressional action would provide a more stable foundation for regulations, as these are less susceptible to policy shifts between presidential administrations. He said this is crucial for promoting investor confidence and trust in the market.