SEC Threatens to Take Control of Crypto Rules if Clarity Bill Fails
The U.S. Securities and Exchange Commission (SEC) has expressed support for the CLARITY Act, a regulatory framework aimed at providing clarity for the digital asset market. If Congress fails to pass the bill, the SEC is ready to draft its own rules.
Paul Atkins, Chairman of the SEC, stated that 'I am committed to supporting Congress in advancing the CLARITY Act.' The act would divide regulatory oversight between the CFTC and the SEC, providing consumer protection and a clear guideline for crypto-based innovations.
The bill has already passed the House with strong bipartisan support but is currently facing disagreements over ethics provisions in the Senate. These provisions would limit senior government officials' involvement in the crypto sector.