SEC Stays Firm on Crypto Regulation Amid CLARITY Act Failure

SEC Chairman Paul Atkins has spoken out on the stalled CLARITY Act, assuring that his agency will move forward regardless of the bill's outcome. The act aimed to provide a comprehensive framework for the cryptocurrency market, but it was unable to pass through the Senate.

In a statement, Atkins confirmed that the SEC would continue to work within its statutory authority to deliver certainty for American investors and entrepreneurs shaping the country's technological future. He added, 'Stay tuned.'

Separately, the SEC has proposed rescinding Rule 14a-8, arguing it exceeds the agency's scope and intrudes into matters of state law. The Commission also proposed amendments to Rule 14a-4(c), aiming to give companies more flexibility and shareholders greater control over proposals eligible for discretionary proxy voting authority.

Meanwhile, the House Ways and Means Committee advanced the Digital Asset Tax Certainty Act in a 38-5 vote. This bill would ease tax treatment for small crypto transactions, clarify stablecoins handling, and address rules governing mining, staking, and wash sales.