SEC Prepares to Write Own Crypto Rules if CLARITY Act Fails

The U.S. Securities and Exchange Commission (SEC) is prepared to create crypto rules on its own if Congress fails to pass the CLARITY Act, said SEC Chair Paul Atkins.

In an interview, Atkins stated that the agency can move ahead with rulemaking under its existing powers if lawmakers remain deadlocked.

The initiative, informally called 'Regulation Crypto,' would mark a significant shift from the SEC's earlier enforcement-driven approach and provide clear direction for the crypto market.

The proposed framework includes registration exemptions for token launches, safe harbor rules for decentralized projects, crypto custody standards for broker-dealers, and rules for crypto trading platforms and market structures.