SEC Weighs In-House Crypto Rules Amid Clarity Act Gridlock
The US Securities and Exchange Commission (SEC) is set to hold an open meeting on Friday to discuss proposing new rules for certain investment contracts involving crypto assets. The move comes after the Senate failed to advance the CLARITY Act before its August break, casting doubts over whether the landmark crypto bill can become law this year.
According to a plan by Senate Republicans, they will test the legislation with a cloture vote on September 15. However, disagreements remain unresolved regarding ethics restrictions, stablecoin rewards, and enforcement powers.
The SEC's Chair, Paul Atkins, has emphasized that rulemaking is a fallback option if Congress fails to advance the CLARITY Act. He stated in a July interview that the SEC could address many of the bill's key market structure issues but stressed that congressional legislation would provide clearer and longer-term direction for digital asset regulation.