SEC Prepares to Take Reins of Cryptocurrency Regulation Amid CLARITY Act Stalemate
The US Securities and Exchange Commission (SEC) is considering new rules for cryptocurrencies after the Senate's failure to advance the CLARITY Act. The agency has scheduled an open meeting on Friday, August 12, to discuss a tailored framework for crypto investment contracts.
Chair Paul Atkins previously indicated that the SEC could develop digital asset rules if lawmakers stalled CLARITY. This meeting may signal a more active regulatory approach from the agency.
The commission must determine how securities laws can support new crypto rules, which could limit measures without congressional approval.
The Senate Majority Leader John Thune has filed a cloture motion for the bill's return on September 14, giving CLARITY a path forward. However, lawmakers face hurdles in advancing the legislation, including scrutiny surrounding President Donald Trump's crypto interests.