SEC to Press On with Crypto Regulation Regardless of CLARITY Act Vote Outcome
SEC Chair Paul Atkins has sent a clear message to markets that crypto regulation will proceed regardless of the outcome of the CLARITY Act cloture vote. In his keynote speech at the Solana Policy Institute summit, Atkins emphasized that Project Crypto, the SEC's agency-wide crypto rulemaking program, will continue to move forward.
Atkins confirmed three concrete rulemaking tracks under Project Crypto: Regulation Crypto Assets, which would allow token founders to raise capital in the US under clearly defined rules; transfer agents, which have not been updated in roughly 40 years; and a proposal allowing investment advisers to self-custody crypto where a qualified third-party custodian does not yet exist.
The SEC Chair's speech comes as the Senate prepares for its cloture vote on Tuesday. While the vote requires 60 votes to proceed, Atkins' message shifts the investor focus from a binary Senate pass-or-fail outcome to a dual-track regulatory path.
Atkins' emphasis on Project Crypto's progress is in line with Coinbase CEO Brian Armstrong's earlier argument that regulatory clarity will arrive regardless of the Senate's decision on the CLARITY Act. Grayscale has also confirmed that crypto regulation will advance regardless of the vote outcome.